Oil buoyed by the weaker dollar but freeze deal pessimism remains September 7, 2016 Oil prices rose this morning, partly due to the weaker greenback, despite mounting pessimism over the ability of global producers to a reach a freeze deal. Crude received a shot in the arm after the US dollar index fell one per cent today, in the wake of softer US economic data. This is a boon [...]
Oil prices slide below $48 on the strong dollar May 19, 2016 Oil prices continued to fall this morning on the stronger dollar, a shock rise in US stockpiles and surging output worldwide. Brent crude, the global benchmark, slumped 2.5 per cent to $47.7 per barrel today. West Texas Intermediate crude, the US benchmark, slipped 2.2 per cent to $47.1. Read more: Shell latest oil major to be embroiled in row over [...]
Oil prices swing wildly as market receives mixed messages September 20, 2016 Oil prices swung wildly today as traders weighed diminished concerns over rising US stockpiles against the broader market outlook. Brent crude, the global benchmark, jumped as much as 0.76 per cent to $46.30 per barrel as a key US petrol pipeline was on pace to return to service following an outage, offsetting concerns over a potential rise in crude [...]
Iran comes closer to opening economy as parliament approves nuclear deal October 13, 2015 Iran has moved a step closer to opening up its economy for business, after its parliament passed a bill approving a nuclear deal with six world powers this morning. The deal, which requires Iran to curb its uranium enrichment programme in return for an easing of economic sanctions, was passed with 161 votes in favour, [...]
Oil prices shoot up as Opec agrees its first production cut since 2008 November 30, 2016 Investors piled into oil futures and related stocks yesterday evening after Opec defied expectations and revealed a deal to cut production by 1.2m barrels a day. Brent and West Texas Intermediate (WTI) crude prices soared as the Saudi Arabia-led cartel announced its first agreement since 2008. The Organisation of the Petroleum Exporting Countries will reduce [...]
Standard Chartered share price drops on US probe into alleged bribery in Indonesia September 27, 2016 Shares in emerging market-focused bank Standard Chartered were dragged lower today after news broke that the bank is the subject of a US Justice Department investigation. US authorities are investigating the London-based bank over allegations that Indonesian power company Maxpower – owned by Standard Chartered – paid bribes to win contracts between 2012 and 2015. Shares in the bank closed down by 2.5 [...]
Oil prices soar despite muted Russia-Saudi Arabia statement September 5, 2016 Crude oil prices soared on hopes for an output freeze which could accelerate the stricken crude market's recovery, despite some gains being parred by a muted statement from oil kingpins Russia and Saudi Arabia. Brent crude, the global benchmark, shrugged off earlier losses to swell as much as 5.49 per cent to $49.40 per barrel in late morning trading. [...]
Nuclear deal won’t hinder Iran’s military capabilities, says President Hassan Rouhani August 29, 2015 Iran's military capability is no weaker as a result of signing a nuclear deal with western nations, President Hassan Rouhani said on Iranian state television today. Read more: Royal Dutch Shell opens talks with Iran by promising $2bn debt repayment In response to criticism from some Iranian hardliners that he bowed down too easily [...]
The weirdest things and most unlikely people Donald Trump has insulted on Twitter October 24, 2016 Today the New York Times took two WHOLE pages to print 281 people, places and things Donald Trump has insulted on Twitter. The full list is quite something. As the race enters its final few weeks, many have suggested that the polls are closer than they seem. If true, that means there are sure to [...]
Statoil brought in to North Sea venture by Jersey Oil & Gas August 23, 2016 Norwegian oil major Statoil has picked up a 70 per cent stake in one of Jersey Oil & Gas and CEICO's North Sea licences. Statoil will pay a $2m (£1.5m) up-front cash payment and spend up to $25m to drill a well in the area as part of the deal. The licenced area contains two medium-risk oil prospects with an estimated 300m and 212m oil barrel equivalent resources respectively. [...]