Update: Iranian tanker ‘struck by two missiles’ off coast of Saudi Arabia
Two missiles have struck an Iranian tanker travelling through the Red Sea off the coast of Saudi Arabia, according to Iranian officials.
Brent crude
Brent crude could slide to lowest level since December 2018, oil trader claims
Brent crude could slump toward a level it hasn’t seen since December 2018 prompting deeper output cuts from OPEC and its allies, according to one of world’s biggest oil traders.
Oil trades near two-week low as US fuel stockpile increases
Oil traded near a two-week low as an increase in U.S. fuel stockpiles spurred concern that demand is waning in the world’s biggest crude consumer.
Oil drops below $54 as global recession, supply concerns mount
Oil closed down in New York for the first time in three days amid rising concerns about the likelihood of a global economic contraction and mounting supplies.
Brent bounces back as Trump holds out on trade deal
Brent crude traded around $70 a barrel as a two-day rebound petered out on signs the U.S. and China are still far from reaching a trade deal, while supply risks from the Persian Gulf to Venezuela kept investors wary.
Oil trades near one-month low as trade row risks hurting demand
Oil traded near the lowest level in a month as concerns that economic turmoil could slow global demand outweighed expectations for a seasonal decline in U.S. crude stockpiles.
Oil rides best weekly winning streak since 2011 on flaring risks
Oil in London is set for the longest weekly run of gains in seven years on growing concerns over supply disruptions from the Middle East to Venezuela and on signs a global glut has dwindled.
Brent slips to lowest in a month after U.S. drilling expands
Oil’s rally is unraveling on fears over a rise in U.S. production and as a deepening slump in equities undermined market support.
Shell to announce profit boost thanks to soaring crude prices
Oil giant Royal Dutch Shell is expected to reveal that profits more than doubled last year as it benefited from the surging cost of crude.
Falling oil stocks result in dramatic slide in UK share index
The FTSE 100 drops 37 points (0.5%) during lunch with a dip in oil and mining stocks being blamed for its lowest level since October.
Analyst expects ‘steady’ Q3 for Shell as integrated gas thrives
A combination of higher crude prices and cost cutting measures should add up to positive third quarter for Shell, an analyst has said.
Watch: UBS turns ‘sideways’ on oil price outlook
UBS Wealth management executive director, commodities and FX, Wayne Gordon has weighed in on the oil price upturn after Brent topped $60 for the first time in two years on Friday.
FTSE 100 on course to top all-time high, despite Brent dipping
London’s premier index rebounded to within a whisker of a new mid-session record after choppy trading for the pound handed a boost to blue-chip stocks.
FTSE 100 hits record close again as index breaks 7,500 mark
The FTSE 100 Index has closed above 7,500 for the first time as higher-than-forecast inflation data and confidence over Britain’s prospects under a Tory government drove stocks higher.
Brent benchmark set for overhaul as Troll enters the scene
The Brent crude price benchmark for millions of barrels of physical crude sales each day is poised for its biggest shakeup in a decade with a new grade added to the mix from January next year.
Opec bickering as oil price drops two days in a row
Oil declined for a second day as OPEC’s internal disagreements undermined efforts among major suppliers to reach an agreement in Vienna on trimming output to support prices.
Brexit: Brent crude falls more than 6% on vote
World financial markets have been rocked by the UK’s vote to leave the European Union, with stock markets and oil prices crashing and the pound hitting its lowest level in three decades.
OPEC oil revenue plunges $438billion to 10-year low
OPEC said its oil revenue plunged by $438billion to a 10-year low last year, as an increase in export volumes failed to compensate for the collapse in prices.
FTSE flat as investors wait to see result of EU vote
London’s premier index was flat as investors paused for breath ahead of Thursday’s vote on Britain’s membership of the European Union.
BP can keep reduced spending level for another three Years, says Dudley
BP can keep spending at a reduced rate of about $17 billion for another three years without affecting growth, chief executive Bob Dudley said.
Oil gains and pound bounces back as Brexit concerns ease
Sterling and the London market swung back into positive territory on Friday morning amid easing concerns over a British exit from the European Union.
Oil pares biggest weekly drop since April
Oil pared the biggest weekly decline in more than two months as the dollar extended its retreat, increasing the appeal of commodities priced in the U.S. currency.
Oil bosses see volatility easing with crude around $50
Crude is stabilizing around $50 a barrel and may only average $55 next year as the global oversupply continues to cap prices, according to two of the world’s top oil executives.
Global upstream investment slashed by $1trillion since oil price fall says Wood Mac
The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to consultant Wood Mackenzie.
IEA sees oil market balancing in 2017
The global oil market will be almost balanced next year as demand continues to rise faster than production, while the current oversupply is much smaller than previously thought, the International Energy Agency said.