Oil rose after the biggest weekly loss in two months as speculation of a crude supply shortage took precedence over escalating trade tensions between the world’s two biggest economies.
Oil was poised for the biggest weekly decline since July as a rout in emerging markets raises concern energy demand will weaken.
The crude market is placing more importance on a stronger dollar and a potential Cushing, Oklahoma, stockpile build than on Tropical Storm Gordon’s threats to oil assets.
Oil prices have reached a two-week high following a report that showed a drop in crude inventories in the US.
Oil rebounded as financial markets stabilised after the initial panic over Turkey’s economic meltdown eased.
Jadestone Energy's shares have been admitted to the alternative investment market (AIM) in London.
Mining stocks were on the rise on Tuesday after reports suggested an improvement in relations between the US and China.
Oil posted a third weekly loss, as Saudi Arabia’s reassurances that it won’t flood the global crude market failed to offset a 4.2 percent price drop at the start of the week.
Recent hikes in energy costs and petrol prices are expected to send UK inflation to its highest level in four months when official figures are disclosed on Wednesday.
Investment bank JP Morgan has raised its oil price outlook, but lowered forecasts for crude demand due to rising uncertainty on international trade,
UK Oil and Gas Investments (UKOG) has raised £2 million via a placing of 100 million new ordinary shares at 2p per share.
Morocco-focused Sound Energy will raise $15 million from the placing of 30.8 million new shares.
The FTSE 100 staged a mini rebound on Tuesday but trade tensions triggered by US President Donald Trump continued to grip investors.
Shares in Cluff Natural Resources (CNR) plunged today after the company said it was "considering" a new equity issue.
Oil firm Trinity Exploration and Production has conditionally raised £13.7 million through the placement of new shares.
London’s blue-chip index was lifted on Friday as oil-related stocks were helped by the outcome of a key meeting of the Organisation of Petroleum Exporting Countries (Opec).
Saudi Oil Minister Khalid Al-Falih signaled the possibility the initial public offering of Saudi Aramco could be delayed beyond 2019, saying that "timing isn’t critical for the government of Saudi Arabia."
Brent crude oil fell to below $74 a barrel as OPEC and its allies inched closer to reaching an agreement on relaxing output curbs at a meeting in Vienna this week.
Azerbaijan-focused Zenith Energy has raised £2.2 million through the placing of 54.2 million new common shares.
Even with Iran threatening to block an increase in OPEC’s oil production, Saudi Arabia still has options.
Inflation held steady in May, despite surging oil prices due to tensions in the Middle East.
It’s tough to stay positive on crude when the world’s three oil superpowers are likely to increase production.
Long-established relationships between the world’s most important oil prices are being strained by conflicting forces across the globe.
Premier Oil’s entry to the FTSE 250 index later this month is a “positive” move for the exploration and production company, an analyst said today.
Oil’s rally to its highest level since 2014 was curtailed this month after two of the world’s biggest crude suppliers signaled they may scale back historic output cuts that helped drain a global glut.