Market info

Market info

Oil prices begin to steady

20/10/2014

The price of Brent crude has steadied at $86 a barrel after the announcement of a cut in Saudi-Kuwait oil output. Production at the Khafji oilfield has been stopped temporarily for environmental reasons.

Market info

Oil prices start a slow climb

17/10/2014

Blue-chip shares were back in positive territory today after steep losses earlier in the week left the FTSE 100 Index at levels not seen since June last year.

Market info

Oil price fall hits energy stocks

14/10/2014

A fresh fall in the price of oil put pressure on energy giants BP and Royal Dutch Shell during another session of weakness for global investors. Brent crude slipped another 1% to 88 US dollars a barrel after the International Energy Agency cut its forecast for oil demand growth this year by 200,000 barrels a day to 700,000 barrels a day.

Market info

Oil sinks on glut concerns as US futures rise

14/10/2014

Crude oil dropped in New York, extending declines from a 22-month low amid concern over a global glut in the commodity. Australian stocks climbed with US index futures after the Standard & Poor’s 500 Index capped its biggest three-day loss since 2011, while gold held gains.

Market info

Oil heads for biggest quarterly drop in two years on ample supply

30/09/2014

Brent and West Texas Intermediate headed for the biggest quarterly decline in more than two years amid speculation that rising crude output would buffer the market from potential supply disruptions in the Middle East. Futures were little changed in London, down 13% from the beginning of July. The US and its European and Arab allies have conducted thousands of air missions since starting a bombing campaign to counter Islamic State militants in Syria and Iraq, OPEC’s second-largest producer. US crude stockpiles probably expanded by 1.5 million barrels last week, a Bloomberg News survey shows before an Energy Information Administration report tomorrow.

Market info

Saudi Arabia said to maintain oil output after biggest cut since ’12

26/09/2014

Saudi Arabia, the largest crude producer in OPEC, plans to keep output steady until the end of the year, a person with knowledge of the country’s oil policy said. It made the biggest cut in 20 months in August. Output through the end of the year won’t differ much from August, when the country pumped 9.597 million barrels a day, according to the person, who isn’t allowed to be identified. The nation reduced production by 408,500 barrels a day last month, the most since December 2012, according to its most-recent submission to the Organization of Petroleum Exporting Countries. Demand will rise by the end of the year because of northern hemisphere winter, the person said.

Market info

Ample supply shields oil as US jets strike militants in Syria

25/09/2014

Plentiful oil supplies are pinning oil prices near a two-year low as the US extends its campaign against Islamic State militants into Syria. Brent crude, which has traded below $100 a barrel for more than two weeks, touched $95.60 a barrel yesterday, the lowest since July 2012, after the broadest Arab-US military coalition since the 1991 Gulf War struck Islamic State targets in Syria. U.S. aircraft began bombing the group six weeks earlier in Iraq, OPEC’s second-largest producer and holder of the world’s fifth- biggest reserves.

Breaking