UK govt oil revenues fall 70% as price crash and decommissioning take effect
UK government revenues from oil and gas taxes have plummeted by more than 70% due to effects of the recent price crash and decommissioning repayments.
Brent crude
Oil sinks amid dollar strength with Iran nuclear deal looming
Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors.
‘Traumatic year’ sees North Sea operators hand back up to 1.1bn barrels of oil
North Sea operators have handed back up to 1.1 billion recoverable barrels of oil from UK fields, according to data released by the Oil and Gas Authority (OGA).
Brent oil edges toward $70 with improving fuel demand outlook
Brent oil edged toward $70 a barrel with optimism building about the demand outlook in key regions such as the U.S., even as the coronavirus makes a comeback in parts of Asia.
Oil plunge: Prices had risen too quickly
For those who had been tracking technical indicators of oil this month, the message was clear: Crude prices had risen too quickly.
Oil deepens slide on dollar gain, concern over short-term demand
Oil in New York dropped more than 5% as short-term demand concerns and a rising dollar collided to cause the biggest intraday drop since December.
Brent crude retreats as $70 hurdle proves tough to break
Oil reversed course in London, despite a raft of economic data from China adding to signs of recovery from the coronavirus pandemic.
‘Oil price fever’ expected to continue after Brent breaches $70
The oil price “fever” is expected to continue, at least in the short term, according to Rystad Energy after Brent Crude broke past $70 a barrel.
Oil surges past $67 as OPEC keeps output squeeze
OPEC+ decided to keep a tight limit on oil production next month, sending prices soaring in a market that had been expecting additional supply.
IOCs primed for record numbers after ‘toughest year ever’ – Wood Mackenzie
International oil companies (IOCs) could be on track for record free cash flow this year should Brent continue its rise, according to Wood Mackenzie.
Interview: NHV CEO hopes oil price bump can get helicopter market to ‘more sustainable situation’
The CEO of NHV hopes the restoration of oil prices can help the beleaguered helicopter market “to a more sustainable situation”.
Oil set for weekly gain with market firming on draining surplus
Oil in New York rose to the highest intraday level in more than a year as output curbs from top producers whittle down global inventories.
Oil price red-hot rally fizzles with virus continuing hold on market
The oil price slipped below $58 a barrel as a recent rally fizzled with the Covid-19 pandemic continuing to weigh on the demand outlook and as one technical indicator signaled prices may have climbed too far, too fast.
North Sea firms see shares jump on oil price rally
North Sea operators including Shell, BP, EnQuest and Premier Oil have all seen their shares jump in light of the oil price rally.
Oil price extends Covid-comeback above $61 on tightening market
The price of oil extended a rally from the highest level in more than a year on signs the global market is tightening and demand is improving.
Brent at $60 post-Covid high: ‘Still a lot of ifs and buts’ for North Sea activity
The Brent oil price has reached its highest in 13 months, but experts say questions persist on whether activity in the UK North Sea will see a similar resurgence.
Shell makes largest purchase of North Sea oil in a decade as prices power higher
Shell snapped up the largest amount of North Sea oil in over a decade during the market’s main trading window for physical cargoes, underpinning signs of sharply tightening supplies.
Brent oil hits $55 with Saudi cuts adding fuel to vaccine rally
Brent oil topped $55 a barrel for the first time since February as gains in broader markets added to investor optimism already buoyed by Saudi Arabia’s unilateral plan to cut output.
North Sea oil gets a jolt from Asian demand
North Sea oil prices are finally strengthening, catching up with other markets that already rallied on the back of rising buying interest from Asia, where demand in many places has already recovered from Covid-19.
Oil clings to rally on signs of coronavirus vaccine progress
Crude held onto a rally amid progress on the development of coronavirus vaccines, with investors shrugging off a smaller-than-expected U.S. inventory build.
Oil price rally loses shine as virus surge offsets vaccine optimism
Oil slipped back below $40 a barrel in New York with demand concerns keeping prices in check after crude was swept up in a broader market rally following news of a potential coronavirus vaccine breakthrough.
Oil slides below $40 with supply disruptions subsiding
Oil accelerated losses with workers in the U.S. Gulf heading back following Hurricane Delta’s landfall and Libya taking a major step toward reopening its biggest field.
Oil pares losses with stronger equities offsetting supply fears
Oil recovered some of its losses with a rally in equities providing support to prices even as industry data pointed to a surprise increase in American crude stockpiles.
Oil drops for third day before OPEC+ reviews easing output cuts
Oil fell below $42 a barrel in New York as OPEC+ gathered to assess its supply deal, with countries struggling to contain the virus that’s hurt economies and fuel demand globally.
FTSE nudges up, Brent crude nears $45
The FTSE 100 Index eked out a gain of 8.21 points, or 0.13%, to 6,269.73 today, as traders continued to show caution despite recent progress towards a vaccine for Covid-19.