Apollo Global Management LLC and TPG Capital Management, the private equity firms that have struggled for years to salvage a $31 billion bet on troubled gambling company Caesars Entertainment Corp., see an opportunity in the oil crash.
The FTSE 100 Index hit a fresh five-month high as markets across Europe raced ahead thanks to a bounce back in oil prices and cheer over the eurozone economy.
The London market opened on the front foot as higher oil prices boosted commodity stocks.
The London market has rallied back after commodity stocks lifted on fresh hopes that a cut to oil production could be around the corner.
Today, I’m going to try and tackle the reasoning for my ‘wild’ predictions for oil reaching triple digits by the end of 2017.
Oil headed for the first weekly decline since February as OPEC production rose and expanding US stockpiles kept inventories at the highest level in more than eight decades.
The London market came under pressure as gloom over the state of the nation’s finances overshadowed figures revealing the economy grew faster than first thought in 2015.
Markets surged higher across Europe after US Federal Reserve boss Janet Yellen soothed fears over imminent interest rate hikes.
US oil prices tumbled from more than $100 a barrel in the summer of 2014 to less than $50 a year later, but that didn't stop workers from flocking to Texas, the nation's biggest energy-producing state.
London’s top flight index struggled to make gains, as commodity stocks weighed heavy on the market following a drop in the price of oil. The FTSE 100 Index was down 1.4 points to 6188.24 following the fresh fall in the price of Brent crude, which edged down by as much as 50 cents since the start of the session before showing signs of stabilising.
The once-in-a-generation crash in oil prices sent the Azeri economy staggering into a crisis and the central bank is running out of options to stop the unraveling.
Average petrol prices rose for the first time in seven months in February, data shows.
Voters have been urged to consider the consequences that quitting Europe could have on Scotland’s economy, as a new report said growth over the long-term has been “weaker than the UK”.
A century and a half before the current supply glut sent oil prices into contango, one of America’s greatest industrialists tried to make money by storing crude. He failed.
Good Energy said it will reduce gas prices for its customers by 7.2% from April this year.
London’s top flight index rallied, as the rising oil price helped the market bounce back from Thursday’s three-and-a-half year low. The FTSE 100 Index rose 1.7% or 97 points to 5634.6, as oil stocks rose sharply on the back of a near 5% growth in the price of Brent crude.
Oil rebounded from the lowest level in more than 12 years amid the highest price volatility since 2009 as speculation swirls over whether producers will act to bolster the market.
Oil’s longest rally this year faltered on signs industrial activity in the world’s biggest energy consumer is deteriorating and as OPEC pumps a record amount of crude. Futures lost as much as 2.5 percent in New York to snap a four-day advance. China’s purchasing managers index dropped in January to a three-year low, with the official factory gauge signaling contraction for a record sixth month.
Iranian President Hassan Rouhani said on Thursday that oil prices would not stay low for long as producers restore market balance. "The price of oil is at a low level ... I don't think it will last in the long term ... The pressure on oil-producing nations means balance will be restored in the short term," Rouhani, whose country is the third-largest producer in OPEC, said at the French Institute of International Relations.
Markets were up strongly for the second day in a row, as oil prices rose at the end of a turbulent week. The FTSE 100 Index was up 140.5 points to 5914.5, following positive overnight trading in Asian markets.
Oilfield services company Schlumberger said it will continue to 'adapt' to the North Sea oil and gas industry as the oil price continues to stay lower for longer. The company described the situation in the UK as "challenging" after revealing it had cut 10,000 jobs while also reporting a loss of $1billion during the final quarter of last year.
Businesses across Europe’s oil capital have been feeling the pinch since the global decline in oil price.
A report has claimed the downturn in the oil and gas industry could be having a wider impact on the Scottish economy. The Scottish Chambers of Commerce said the effect of lower oil prices could be extending beyond businesses operating directly in the sector. The latest quarterly report received responses from 477 firms in Scotland.
In the first 7 days of 2016, the S&P GSCI Crude Oil Excess Return lost 17.8%, making it the worst start for oil in history. Now the index has recorded a new maximum drawdown of 92.8% since its peak on July 3, 2008.
The troubled start to the new year continued as global markets tumbled amid oil prices slumping to new 11-year lows. London’s FTSE 100 Index fell 63.9, points to 6073.4, with indices across Europe also sharply lower as Brent crude dropped below 35 US dollars a barrel.