Oil prices continue to surge to new four-year high as 2m Iranian barrels go off the market May 15, 2018 Increased demand and restricted supply caused oil prices to soar today with Brent crude oil reaching $79 (£58) per barrel which is the highest since November 2014. Demand for oil drastically increased prices and has resulted in oil prices increasing by more than 70 per cent over the last year. After the plans for the [...]
Total makes major UK offshore gas discovery September 24, 2018 Oil and energy giant Total has announced a major gas discovery off the coast of the Shetland Islands in the North Sea. The French multinational company said it made the discovery on its Glendronach prospect – drilling a well to a depth of 4,312 metres and encountering a gas column in a reservoir. Read [...]
Oil and gas add to current market worries June 18, 2018 Recent rises in the oil and gas price worry some in the markets. Will they trigger more inflation? Will there be supply interruptions given the US wish to sanction Iran, given the troubles in Venezuela, and the growing hostility of the West towards Russia? We think there are stresses, but not ones which need become [...]
Oil prices in US hit $75 per barrel amid volatility between US President Donald Trump and Opec July 3, 2018 The price of crude oil in the US jumped above $75 (£57) a barrel today amid war of words between US President Donald Trump and oil cartel OPEC and fears of production losses in Iran and Venezuela. Prices for West Texas Intermediate Crude hit $75 a barrel today for the first time since 2014, before [...]
Oil prices rebound after record losing streak as producers mull supply cut November 14, 2018 Oil prices have bounced back bringing an end to the commodity's longest losing streak since records began as producers prepare for supply cuts. Crude prices had fallen for 12 consecutive days losing more than 25 per cent of their value as supply surged and demand faltered. But major oil producers, such as Saudi Arabia, have suggested [...]
UAE pardons British PhD student Matthew Hedges after sentencing him to life in prison on spy charges November 26, 2018 British PhD student Matthew Hedges, convicted as a spy and handed a life sentence last week by the United Arab Emirates (UAE), has been pardoned with immediate effect, it was announced this morning. The UAE freed Hedges as part of its National Day clemency tradition, state media reported. The decision follows “constructive” talks with foreign [...]
Central bank gold buying hits highest level since 2015 amid market volatility and currency weakness November 1, 2018 Central bank gold buying hit its highest level since 2015 in the third quarter as demand rose on stock market volatility and currency weakness. The World Gold Council reported that central bank gold reserves grew 148.4 tonnes, up 22 per cent year-on-year as more countries bought the commodity. A four-month trend of gold outflows was [...]
Trump’s state visit to the UK cost police £18m, four times as much as the royal wedding’s security October 11, 2018 US president Donald Trump's visit to the UK in July cost police almost £18m, four times the cost of the security of the royal wedding, it was revealed today. Nearly 10,000 officers across the country worked more than 26,000 shifts during the four-day trip that ignited protests in London, Edinburgh and Glasgow. Read more: Trump has a [...]
Gold, the Federal Reserve, and the dollar – what’s driving up precious metal prices? March 19, 2019 Gold has been making a comeback. After a long period with little activity last year, the precious metal’s value has risen as stock markets have struggled and fallen. Combine the volatility of equities with the increase in geopolitical fears, and many investors are re-evaluating whether to increase the amount of gold in their portfolios. The [...]
Oil prices break $80 per barrel mark as Hurricane Florence helps create the perfect storm September 12, 2018 Oil prices have risen above $80 per barrel for the first time since July as US crude inventories dropping, impending sanctions against Iran, and Hurricane Florence created a perfect storm. The price of Brent Crude oil rose to $80 per barrel, its highest since the middle of July and close to a three-year high. The [...]