Saudi Aramco international listing still ‘on the cards’ January 22, 2020 Saudi Arabia’s finance minister has said that the kingdom is still mulling listing state oil giant Saudi Aramco on an international bourse. Speaking to Bloomberg at Davos, Mohammed Al-Jadaan said that a float is “still on the cards”. However, he added that he “didn’t think it’s going to be anytime soon.” In December Aramco listed [...]
US stocks rally as investors try to price coronavirus damage February 26, 2020 US stock markets rallied soon after the bell and European equities recovered from sharp early falls as investors weighed up the effect coronavirus on the global economy. The Nasdaq index, which is dominated by global tech companies, jumped 1.8 per cent soon after Wall Street opened. The S&P 500 followed suit with a 1.5 per [...]
Don’t underestimate the importance of the Strait of Hormuz to the global economy July 22, 2019 If last week’s obstruction of a British tanker in the Strait of Hormuz did not illustrate the dangers our seafarers face, we were furnished with further proof on Friday, when Iran seized the Stena Impero in international waters. Only the timely intervention of a Royal Navy frigate had secured the safe passage of the British [...]
The US sanctions against Iran could start a war in the European commercial courts August 28, 2018 The reimpositions of US sanctions against Iran may be designed to be aggressive while remaining a fair distance short of actual war, but violent battles may be about to commence in the European courts. The cause is a big difference in tone and intent between Washington and Brussels. “Anyone doing business with Iran will NOT be [...]
UK airline stocks plunge as Italy reports fourth coronavirus death February 24, 2020 UK airline stocks plummeted in early trading today as the FTSE 100 plunged two per cent after Italy reported a dramatic rise in its number of coronavirus cases. Easyjet’s share price sank 11.6 per cent while British Airways owner IAG suffered an eight per cent drop in its market cap. Tour operator Tui also shed [...]
Middle East tensions to raise fuel prices for UK drivers January 7, 2020 Ongoing tensions in the Middle East will have an impact on UK drivers, with fuel prices set to rise at least 2p a litre in the next two weeks, according to the RAC. Simon Williams, the RAC’s fuel spokesman, said that dispute between the US and Iran “will cause the oil price to go up [...]
Oil prices waver as Opec mulls further production cuts to offset coronavirus impact February 3, 2020 Oil prices were largely steady today despite growing economic disruption from the coronavirus outbreak amid rumours that producer cartel Opec is considering even deeper cuts to oil output. Brent crude fell 0.2 per cent to $56.49, whilst West Texas Intermediate showed a small gain of 0.4 per cent to reach $51.74. Last week prices fell [...]
Huawei CFO Meng Wanzhou details life on bail December 2, 2019 Huawei’s finance chief, who was arrested in Canada a year ago, has penned an open letter detailing her life since her arrest, which includes taking up oil painting and reading more books. Meng Wanzhou, the daughter of Huawei founder Ren Zhengfei, also thanked her supporters, saying her “heart has been warmed” by their encouragement. Read [...]
Gold is the new gold: Why the safe haven investment could shine in 2020 January 18, 2020 The start of 2020 has certainly been a rude awakening for traders returning to work after the Christmas break. Oil prices spiked after the US assassination of Iranian general Qasem Soleimani ignited tensions in the Middle East. Equities were shaken, and investors flocked to safe haven assets in a bid to shelter from the storm. [...]
Oil prices tick up amid Middle East tensions June 24, 2019 Oil prices rose this morning as markets reacted to increasing tensions in the Middle East. The price of international standard Brent Crude reached highs of $65.74 this morning, before giving back some gains later in the day. At around 10.45am the black stuff was up 0.3 per cent to $65.39. Read more: Trump cancelled Iran [...]