Oil bounces back following reports Russia is prepared to cut output November 29, 2018 Crude oil prices today clawed back losses following reports that Russia has accepted the need to cut its output. Brent crude, the global benchmark, rose steeply today to $59.26 a barrel after closing at $58.12 yesterday. US West Texas Intermediate also recovered, having fallen below $50 a barrel for the first time since October 2017. [...]
Five reasons why tech stocks are in trouble November 27, 2018 For months, technology stocks have been the holy grail for growth, with valuations reaching dizzying heights. So, considering that what goes up must come down, perhaps it’s not surprising that stocks started tumbling last week. Share prices for each of the five tech giants – Facebook, Amazon, Apple, Netflix, and Google (the so-called Faangs) – [...]
Oil prices hit one year low on oversupply fears ahead of next month’s OPEC meeting November 23, 2018 Oil prices have fallen to the lowest rate since late 2017 today on fears of oversupply and trade uncertainties. Brent crude oil, the international benchmark, fell to $61.52 per barrel this morning, the lowest price in a year, while US West Texas Intermediate was also down to $53.38 dollars a barrel after suffering a drop [...]
Whatever the CIA says, the west could turn a blind eye over Khashoggi’s murder November 21, 2018 The murder of Saudi journalist Jamal Khashoggi has put a strain on political and economic relations between Saudi Arabia and the west. On Sunday, word came that the CIA blamed Saudi Crown Prince Mohammed bin Salman for the murder, with sources close to the agency saying that it had assessed the evidence in detail. The [...]
Oil drops to its lowest point since March as investors fear increased supply November 20, 2018 Oil prices continued to fall, sliding to their lowest point in eight months this afternoon after markets were hit by increased supply from the US and a slowdown in global trade. Brent crude, the international standard, dropped by five per cent to $63.38 a barrel (£49.43) this afternoon, extending on losses made earlier in the day. [...]
Oil futures slip up amid sell-off, despite markets bracing for production cuts November 20, 2018 The price of oil fell this morning, despite expectations that Opec will reduce its output shortly. International standard Brent crude dropped 0.95 per cent from its last close to $66.16 per barrel. Prices had initially ticked up this morning in anticipation of Opec cuts, but later fell amid a broad sell-off on the market. The [...]
Oil giants BP and Shell expect pumped up profits after barrel price rise October 28, 2018 Oil and gas giants Shell and BP are expected to report boosted profitability this week after oil prices breached $85 (£66.2) dollars per barrel in the third quarter. On Tuesday BP is expected to reveal a jump in profits from £2.82bn to an estimated £2.9bn according to S&P Capital IQ, while on Thursday Royal Dutch [...]
Oil prices steady after four per cent drop despite 6m jump in barrel stockpile October 24, 2018 Oil prices have steadied after hitting low of $75 per barrel this morning, following yesterday’s four per cent price dive amid a continuing political crisis in Saudi Arabia. The price of Brent crude, the global benchmark, steadied to $76.52 this afternoon after it fell to the lowest point since 24 August earlier in the day. Read [...]
BP and Shell get green light for North Sea joint venture, drilling for 20m barrels of oil October 22, 2018 BP and Shell received approval for their 50-50 joint Shetland venture today, which they predict could produce 20m barrels of oil. The Alligin oil field in the North Sea should produce 12,000 barrels of oil per day at its peak once it comes on stream in 2020, the oil giants said. Read more: BP wins [...]
Finance chiefs desert Saudi business summit as backlash to missing journalist intensifies October 16, 2018 The global boycott of a high-profile Saudi investor conference gathered pace yesterday as the bosses of JP Morgan, Ford, Blackstone and BlackRock led an executive exodus following the disappearance of journalist Jamal Khashoggi. The US resident and critic of the Saudi government has not been seen since entering the Saudi consulate in Istanbul on 2 October. [...]
