Global benchmark Brent crude jumped above $65 a barrel for the first time in 2 1/2 years after one of the most important pipelines in the world was shut because of a crack.
When the state-owned oil company of the United Arab Emirates decided to sell a stake in its fuel-retailing unit, it had a lofty valuation target.
Oil is heading for a second weekly loss as investors turn their attention to expanding U.S. oil production and gasoline stockpiles after OPEC last month agreed to extend supply cuts.
Investor exhaustion with poor returns from the oil and gas industry may mean less financing to expand the U.S. shale boom next year, and less of a drive for consolidation.
Oil retreated amid worries that OPEC’s deal to extend production cutbacks may take U.S. shale activity to a whole new level.
UK economic growth is expected to stay “steady but subdued” over the next two years, according to the latest economic forecast from the Confederation of British Industry (CBI).
Oil extended gains following a third monthly advance after OPEC and Russia agreed to prolong production cuts through to the end of 2018 in their fight against a global supply glut.
OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.
Oil dropped after an OPEC-led coalition of major crude producers left the door open to dropping supply cuts halfway through 2018.
Brent held near $64 after OPEC agreed to extend production curbs to the end of next year, giving the market what it expected.
Oil dropped for a third day as U.S. industry data showed crude stockpiles expanded and as OPEC ministers arrive in Vienna to decide on prolonging supply cuts past the end of March.
Tullow Oil today confirmed the completion of its refinancing of $2.5billion of Reserves Based Lending (RBL) credit facilities.
Shares in Royal Dutch Shell shot to the top of the FTSE 100 after the oil giant announced it was restoring its cash dividends after more than two years in the latest sign that the industry is emerging from an extended slump.
OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc.
Oil major Shell said today that it would cancel its scrip dividend programme from the fourth quarter of 2017.
Oil advanced to a fresh two-year high as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts to the end of next year.
Oil headed for its best weekly advance in a month after an outage on the Keystone pipeline added to speculation crude supply could tighten and as investors await OPEC’s decision on extending output curbs.
Centrica plunged the most in 20 years as earnings are expected to fall below market consensus after a disappointing performance by its energy supply business.
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
Centrica is headed for its worst year as investor skepticism over the utility’s strategy and the political turmoil plaguing U.K. energy suppliers shows no sign of ending.
Oil headed for its highest close since June 2015 while trading volume surged after U.S. industry data showed crude stockpiles resumed declines and as investors await a decision by OPEC on extending output cuts.
OPEC has an Iraq problem: the group’s second-biggest exporter is lurching between quota busting and production-crimping crisis, clouding the policy-making picture as ministers decide how long they need to extend output curbs.
British Gas owner Centrica is scrapping standard gas and electricity tariffs (SVT) for new customers ahead of Government plans to impose a price cap on the costly energy products.
Oil held gains above $56 a barrel after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month.
The private-equity owner of north-east energy service Proserv has underlined its faith in the business despite recent troubles.