Oil held its biggest gain in almost two weeks on optimism a more conciliatory approach on trade from the U.S. will help revive growth, but was still headed for a weekly drop amid persistent demand concerns.
Oil prices jumped back above $70 a barrel after Iran attacked two U.S.-Iraqi bases in its first response to the killing of its top general, before paring much of their advance as Tehran signaled the strike was over.
Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the U.S. assassinated one of Iran’s most powerful generals.
Oil prices are likely to remain “elevated” after a US airstrike heightened the prospect of supply disruption from the Middle East, a prominent Aberdeen petro-economist said today.
Oil jumped close to $70 a barrel after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region.
Oil is poised for the biggest yearly gain since 2016 as fresh geopolitical tensions erupted in the Middle East and as U.S. crude stockpiles are forecast to extend declines.
Oil held gains near the highest close in over three months after U.S. crude stockpiles declined more than expected.
Shell has revealed it received more than £60m back from the UK Government last year in relation to decommissioning its Brent field in the North Sea.
BP’s North Sea boss has said Greenpeace activists told him they targeted the company because they believed BP “can actually make a difference” on climate change.
OPEC and its allies sent more signals that they’ll stick with existing output cuts at their meeting next week.
A UK Government official said yesterday that 2019 was a “year of scrutiny” for the offshore oil and gas decommissioning industry - and it was not a “one-off”.
Oil fell for a third day as President Donald Trump failed to provide any fresh details on trade negotiations with China, disappointing investors who had been hoping for some progress toward a limited deal.
It was the beginning of an exciting week when Greenpeace announced they had sent activists to the middle of the North Sea to climb the remains of Shell’s Brent platforms, brandishing signs of “clean up your mess”.
A boss at Shell has insisted that leaving the huge concrete legs of the Brent platforms at sea was the “right thing to do”.
Oil traded higher after a surprise U.S. crude stockpile draw coupled with an outage at a key North Sea pipeline tempered weak economic data from Germany.
A rule placing liability on operators for any post-decommissioning incidents could be a “key part” of the Shell Brent debate, according to a petroleum economist.
As someone with a keen interest in decommissioning decision making, I have followed the Brent decommissioning saga with that same keen interest.
Germany has said a special meeting on Shell’s Brent decommissioning plans will be the “litmus test” for a convention to protect Europe’s marine environment.
Climate activist group Greenpeace has halted its protest action at a Shell North Sea field, leaving a graffiti slogan on the Brent Bravo platform.
Greenpeace said last night that protestors would occupy two North Sea oil platforms for “as long as needed” to get their message across.
An academic has asked whether removing concrete structures within Shell’s Brent platform legs is the right thing to do as such an operation would include risk to life.
Shell submitted plans in 2017 to leave the giant legs of three of its four Brent platforms and some other infrastructure in the North Sea.
The Dutch government has protested Shell’s decommissioning plans for the Brent field ahead of a key meeting next week.
Oil kept falling after its biggest weekly drop since July as signs that reaching a comprehensive U.S.-China trade deal will be tough gave no respite from a worsening demand outlook.
Oil is heading for the biggest weekly loss since July on indications Saudi Arabia is restoring lost crude production quicker-than-expected after attacks on its key energy infrastructure.