Oil falls two per cent as concerns rise that increase in US production will undercut Opec deal January 9, 2017 Oil prices fell more than two per cent today after figures indicated US production is growing and could undercut global deals to cut supplies and boost the global market. Data released by US oilfield services provider Baker Hughes today showed US energy companies added oil rigs for a 10th week in a row to 529, extending a [...]
President-elect Donald Trump blasts outgoing President Obama and reaches out to Israel in latest Twitter outburst December 28, 2016 US President-elect Donald Trump has slammed outgoing President Obama on Twitter and told Israel to "stay strong" until his inauguration. Trump took to the social media site with his @realDonaldTrump account to blast what he called "the many inflammatory President O statements and roadblocks" – this time referring to Obama's recent action on Israel. Last Friday, the [...]
Oil production freeze deal: All eyes of Iran as Opec members try for its participation February 17, 2016 International attention will fall on Iran today, as Opec members try to secure its participation in what will be the first global oil deal in 15 years, potentially by offering its special terms. Today’s outcome is crucial because Saudi Arabia and Russia have said that the agreement to freeze production at January levels is contingent [...]
Brent crude and WTI: Oil prices waver as Iran casts doubt on production freeze deal February 17, 2016 Oil prices wavered this morning, dipping in and out of the red, as speculation swirled around oil markets over the consequences of a deal between Saudi Arabia and Russia to freeze output at January levels. Brent crude, the global benchmark, reversed earlier losses, rising 1.12 per cent to $32.54 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, [...]
Lifting of Iran sanctions causes Opec output to soar to fresh highs in January January 29, 2016 Opec oil production soared to its highest level in almost two decades this month, with Iran driving the largest increase in supply, according to a new survey. Saudi Arabia and Iraq also ramped up production in January, the Reuters data said. The oil market is already suffering with a massive supply glut, thanks to Saudi’s [...]
Artificial Intelligence to reveal the biggest secret in oil February 15, 2017 The EIA is, and will continue to be, the gold standard for reporting U.S. oil inventories, and the administration’s weekly reports have the power to immediately swing crude oil prices depending on builds or draws in oil stocks. But while the U.S. is a transparently reporting country, other nations are not revealing oil stocks data, [...]
Oil prices lift as Saudi Arabia looks to bolster Opec deal with customer talks and US crude inventories have unexpected fall January 5, 2017 The price of the black stuff lifted more than one per cent today as Saudi Arabia started talks to support an Opec-led production cut and a report showed the amount of oil the US keeps in reserve fell last week. Global benchmark Brent crude was up 1.5 per cent, or $0.83, to $57.29 a barrel [...]
City Moves for 5 January 2017 | Who’s switching jobs January 5, 2017 Colliers International Global real estate advisor, Colliers International, has recruitedKaty Rogers to its EMEA corporate solutions team. Katy, the newly appointed senior portfolio manager, will be responsible for managing client relationships, maintaining real estate strategies and coordinate day-to-day management of real estate transactions. Katy joins Colliers with five years of account and property management experience [...]
US President Donald Trump gets to work with executive order to scrap Trans-Pacific Partnership and border tax threat January 24, 2017 Donald Trump kicked off his first week as President by signing an executive order withdrawing the US from the Trans-Pacific Partnership trade deal, branding the move a “great thing for the American worker”. The departure from one of Obama’s signature policies comes after Trump pledged in his inauguration address to “put America first”. Though the deal [...]
Iran is open for business – but don’t expect UK banks to rapidly increase their exposure January 28, 2016 Could you be doing business – or even holidaying – in Iran in the not too distant future? One of the Middle East’s largest economies and biggest oil producers has been off limits to most Western businesses for years as a result of extensive sanctions. But it is now rejoining the international fold, following the [...]