US crude and brent oil prices recover losses after Opec holds production December 4, 2015 Oil prices recovered losses this afternoon, as the Organisation of Petroleum Exporting Countries (Opec) decided not to cut production at its key meeting in Vienna. Opec members seemingly failed to agree on an oil production ceiling, after the final statement was published with no mention of a new one, apparently allowing members to continue pumping oil at current rates. [...]
FTSE 100 closes lower after ECB president Mario Draghi takes stocks on a rollercoaster ride of emotions March 10, 2016 Oh, Mr Draghi. What have you done to us? The FTSE finished almost 1.8 per cent lower at 6,036.7 points today – perilously close to the 6,000 mark – after European Central Bank (ECB) president Mario Draghi sent equities (and the euro. And gold) on an emotional rollercoaster ride. The index started the day off undulating gently, before rising [...]
Iran nuclear talks: What’s Iran doing to make everyone think it’s trying to build a weapon? April 1, 2015 Today, world leaders are hoping to finally come to an agreement over Iran's nuclear programme. Representatives for the UK, US, China, Russia and Germany have met with Iran in Lausanne, Switzerland, to try and persuade it to curb its nuclear enrichment programme in return for an easing of economic sanctions. Iran has been accused [...]
Brent and US crude oil prices: The black stuff falls further after US figures show gasoline inventory boost January 6, 2016 Brent crude oil hit a low of $34.13 per barrel at one point yesterday, after figures from the US showed a huge increase in gasoline and distillate inventories. It recovered slightly to trade at $34.38 last night. The closely-watched weekly figures, from the US Energy Information Administration, showed that while inventories of crude oil have [...]
Putin pushes oil price higher as Russian oil firms agree not to increase output in 2016 March 1, 2016 The oil price has been sent sharply higher by comments from Russian president Vladimir Putin, promising Russian oil companies will not increase output this year. The price has soared to highs for 2016, with international benchmark Brent crude trading at $36.83 and West Texas Intermediate going for $34.26 dollars a barrel. Putin was speaking at a meeting with [...]
BlackRock adds its voice to warnings over market bounce, as rally begins to lose its lustre March 15, 2016 A market bounce since January and February lows is at risk of crashing back to earth, according to Russ Koesterich chief investment strategist at BlackRock. BlackRock is the latest financial institution to warn that the current rally may be short lived after Morgan Stanley yesterday said that economic and political circumstances may take its toll on company shares. The FTSE 100 [...]
Dallas Fed warns oil market won’t stabilise this year March 4, 2016 The Dallas Fed chief said the oil market won't rebalance this year, as he warned persistent weakness in the energy sector could send "negative ripples effects" through financial markets. Robert Kaplan, Dallas Fed president, said demand and supply won't balance until mid-2017, however this could change if the Organization of the Petroleum Exporting Countries (Opec) alters its production strategy. "This forecast [...]
WTI crude and Brent crude oil prices fall further amid mounting glut concerns December 14, 2015 US Western Texas Intermediate (WTI) fell below $35 per barrel for the first time since February 2009 today – chased lower by the global benchmark, Brent crude, which slid below $37 per barrel for the first time since 2008. The renewed pressure came a day after Iran vowed to ramp up production once sanctions are lifted, following the July [...]
Cargo ship seized by Iran has no Americans on board but crew is safe April 29, 2015 Rickmers Ship Management, the operator of the MV Maresk Tigris that was boarded by Iranian forces yesterday has said the 24 member crew is safe but they haven't yet determined why the ship was boarded. "We have had the confirmation that they are in relatively good condition and safe on board the ship," said Rickmers spokesman [...]
Brent crude and WTI: Oil prices stay higher after US jobs report March 4, 2016 Oil prices rose today, as strong US employment data fed into optimism that the market may have finally bottomed out. Brent crude, the global benchmark, rose 1.4 per cent to $37.59 per barrel this morning, putting it on course to end the week with a gain of more than five per cent. Meanwhile, West Texas Intermediate crude, [...]