Light at the end of the North Sea oil pipeline: Oil firms have all taken a hit by the decline in global crude prices. But has it hit rock bottom? August 19, 2015 The affect of fraught conditions in oil markets on North Sea companies was revealed yesterday as John Wood Group and Cairn Energy announced their half-year results. Wood Group revealed it has axed around 5,000 jobs in response to the decline in crude oil prices, with 1,000 of them coming from North Sea operations. The company’s [...]
Investors slash exposure to oil as prices drop August 2, 2015 INVESTORS will be closely watching oil prices this week, after Iran revealed that it expects to raise oil output by 500,000 barrels per day (bpd) as soon as sanctions are lifted and by 1m bpd within months. Iranian oil minister Bijan Zanganeh said yesterday: “Within the next few months, we will return to the level [...]
What gold tells us about a Fed rate hike – eToro Tips & Picks September 28, 2015 Gold has been an interesting play over the last week or so, and most definitely throughout yesterday’s session. A report in the weekend press highlighted the fact that the gold rally may well be over, on the back of the Fed’s move to start raise interest rate – and we saw that last week [...]
Oil prices hit six-year lows as global commodities rout continues August 24, 2015 As global equities continue to plummet, commodities are doing the same. After Bloomberg's commodity index sank to a 16-year low overnight, oil prices continued their rout this morning, with both WTI and Brent crude falling to six-and-a-half year lows. Read more: Black Monday? FTSE edges towards 6,000 Brent crude was down 3.65 per cent at [...]
IEA: Oil supply glut to last until the end of 2016 August 12, 2015 Low oil prices are set to spur on the fastest growth in oil demand for five years, the International Energy Agency (IEA) said today, but prices could stay lower for a long period as producers opt not to rapidly cut back production. Global oil demand is set to grow by 1.5m barrels per day this [...]
US supply data sends oil prices tumbling again September 3, 2015 CRUDE oil prices fell again yesterday, on news that US stockpiles rose again last week. Global benchmark Brent crude was back to trading below $50 per barrel, despite earlier gains, in a marked departure from the three-day bull market seen over the last few days of August. US benchmark West Texas Intermediate (WTI) also fell, [...]
As the price of US oil slides to almost $40 per barrel, has it still got further to fall? August 20, 2015 Alex Dryden, global market strategist at JP Morgan Asset Management, says Yes With oil prices drilling multi-year lows, investors are asking how much further they can fall. Predicting the movement of oil is difficult even at the best of times. However, a look at the supply and demand dynamics suggests that black gold could slide [...]
Everything you need to know ahead of the Opec meeting on Friday June 2, 2015 All eyes will be on the organization of petroleum exporting countries (Opec) when it meets in Vienna on Friday to decide whether to increase, decrease or hold its output target from its current level. Why is it interesting? A glut in the global supply of oil pushes prices as low as $45 per barrel in mid-January, [...]
Glencore pulls FTSE up on back of debt scheme – London Report September 8, 2015 BRITAIN’S top share index rose yesterday, led into positive territory by Glencore after the mining and commodities trading firm announced a plan to cut billions of dollars in debt in the face of weakening metals prices. The FTSE 100 was up 31.60 points, or 0.5 per cent, at 6,074.52 points at the close, rallying after [...]
Sky shines but rates warning knocks back UK’s housebuilders – London Report July 14, 2015 BRITAIN’S top share index closed higher yesterday, with broadcaster Sky climbing after Deutsche Bank upgraded the shares and energy stocks rising as crude oil rose. The FTSE 100 index closed 0.2 per cent higher at 6,753.75 points, extending a one per cent rise on Monday when markets welcomed a Greek debt deal. Shares in Sky [...]