Oil prices flatline as Saudi Arabia fails to prop up prices with heavy cuts June 6, 2023 Oil prices have failed to take off following OPEC's decision to sustain heavy output cuts and Saudi Arabia's call to unilaterally slash production.
FTSE 100 close: US recession jitters outweigh oil price surge on London index June 5, 2023 London’s FTSE 100 lost momentum in the afternoon session today after new data revealed the US economy is wilting under the weight of the Federal Reserve’s interest rate hikes. The capital’s premier index slipped 0.1 per cent to 7,600 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Oil prices rise as Saudi Arabia pledges further cuts at crunch OPEC+ talks June 5, 2023 Oil prices are up on both major benchmarks after Saudi Arabia cut output by another million barrels per day from next month.
Labour’s plan to wind down oil and gas extraction is ‘naive’ and risks ‘cliff edge’ for production, union chief warns June 4, 2023 Labour’s energy plans are “naive” and the party risks creating a “cliff edge” for production, a union chief has warned.
Oil prices stabilises after US debt ceiling vote as OPEC+ meeting looms June 1, 2023 Oil prices have stabilised today after the passing of a key vote on the US debt ceiling revived expectations of demand growth.
Oil prices wane as US races to secure deal over debt ceiling May 30, 2023 Both major oil benchmarks dipped this morning as fears over the sustainability of the US debt ceiling made investors more cautious.
Oil dips below $70 per barrel as flagging US and Chinese economies weigh prices down May 3, 2023 Oil prices have fallen below $70 per barrel today, weighed down by growing concerns over the health of the US and Chinese economies.
Oil markets tumble as hawkish Fed and sluggish Chinese growth drive down prices May 2, 2023 Oil prices dropped heavily today, amid growing expectations of interest rate hikes from the US Federal Reserve and European Central Bank.
BP unveils further bumper profits as oil and gas price hikes continue to fuel energy giant’s earnings May 2, 2023 BP has unveiled its second-highest first-quarter profit in more than a decade, posting healthy earnings over its first three months of trading.
Chevron tops estimates with profit gains despite slide in oil prices April 28, 2023 Oil major Chevron Corp beat market expectations on Friday as profit nudged higher in the first quarter this year.