Oil prices continue fall amid fears production cuts won’t go far enough April 6, 2020 Oil prices have continued to fall this afternoon amid fears that proposed cuts to production will not go far enough to stabilise prices, which have been in freefall due to the coronavirus pandemic. Benchmark Brent crude fell over five per cent to stand at $32.3, while West Texas Intermediate shed seven per cent to hit [...]
Oil prices slip on delayed talks but stocks rise as coronavirus cases slow April 6, 2020 Oil prices dipped on Monday after talks between Saudi Arabia and Russia to cut output were postponed, while a slowdown in coronavirus deaths and cases saw stocks jump. Brent crude fell as much as $4 overnight after Saudi Arabia and Russia delayed the negotiations, which were expected to go ahead today, to Thursday. Brent crude [...]
FTSE 100 bounces back as Trump declares end to oil price war April 2, 2020 The FTSE 100 looked set to end the day on a high as US President Donald Trump said Saudi Arabia and Russia had ended their oil price war. Energy stocks jumped to propel the London index back into the green after a tumultous day for global stocks. Staggering data showed 6.6m US jobless claims occurred [...]
Oil prices soar as Donald Trump reveals Saudi-Russia deal April 2, 2020 Oil prices soared this afternoon as US president Donald Trump said that Saudi Arabia and Russia had agreed a deal to end their price war and curb production. Brent Crude shot up nearly 22 per cent within half an hour of the president’s revelation, which was made over Twitter. The benchmark is now trading at [...]
Oil prices jump as Donald Trump hints at imminent Russia-Saudi Arabia deal April 2, 2020 Global oil prices climbed off the floor of 18-year lows this morning after US president Donald Trump said he expected Saudi Arabia and Russia to reach an agreement soon to put an end to their price war. The combination of a production war and a slump in global demand due to widespread lockdowns caused by [...]
Oil prices slump again as US ramps up production April 1, 2020 Oil prices fell again this morning, just days after they touched an 18-year low amid a massive slump in demand and oversupply concerns. Brent crude sank 3.6 per cent today to hit $25.40. And West Texas Intermediate (WTI) dropped 1.3 per cent to teeter on the edge of the $20 mark, at $20.21. Two days [...]
Shell and Total slash costs and suspend buybacks amid oil price slump March 23, 2020 Oil giants Shell and Total have suspended their share buyback programmes and announced billions of dollars of cost cutting as they try to weather the recent crash in oil prices. The price of Brent crude slumped to a 17-year low last week as the coronavirus pandemic has cut global demand for oil and a price [...]
Oil price goes below $30 a barrel following brief rise March 17, 2020 Oil prices have fallen below $30 a barrel due to coronavirus uncertainty and the Russia-Saudi Arabia price war. This comes after they staged a slight rise this morning as investors searched for a bargain. Brent crude fell to $29.82 a barrel having peaked earlier at $31. Stephen Innes, chief markets strategist at Axicorp told Reuters [...]
Oil prices slide as coronavirus and price war roil markets March 16, 2020 Oil prices slipped below $30 a barrel in afternoon trading as an emergency interest rate cut from the US Federal Reserve failed to calm fears about a global recession caused by coronavirus. The Brent crude oil price was last down 11.1 per cent at $30.10, its lowest price since 2016. West Texas Intermediate was down [...]
Coronavirus: FTSE 100 loses £144bn after worst day since 2008 March 9, 2020 The FTSE 100 has had £144bn wiped off its value today as it closed below 6,000 points and suffered its biggest intraday fall since 2008. The coronavirus outbreak and plunging oil prices dragged the index down as much as 8.7 per cent to just 5,899 points as it opened following a weekend of coronavirus turmoil. [...]