Oil prices drop to lowest level in a year amid increased US and Russian output December 18, 2018 Oil prices dropped sharply this morning to their lowest point in over a year as US output looks set to reach 8m barrels per day by the end of 2018. International standard Brent crude fell off a cliff at around 9am UK time, plummeting around four per cent to $57.27 per barrel. However it later [...]
IEA: Opec cuts hit the spot as oil set to stabilise at $60 per barrel December 13, 2018 A cut in output from oil-producing cartel Opec will hit the spot as oil prices look set to stabilise at a floor of around $60 per barrel after a volatile year, the International Energy Agency said today. Prices hit a year high of $86 in early October as investors feared supplies would drop as the US [...]
Brent Crude price rises as protesters stop production at Libya field December 11, 2018 Oil ticked higher today as a protest at one of Libya’s biggest oil fields hit the country’s output. A local tribe demanding more development in their community shut down the 315,000 barrels-a-day El Sharara oilfield in the south west of the country. Plant authorities declared a so-called force majeure, saying they were unable to fulfil [...]
Asda to cut fuel prices for fourth week in a row December 7, 2018 Asda will cut the price of fuel for the fourth week in a row tomorrow, and for the sixth time since late October. Motorists will benefit from 2p off per litre of unleaded petrol and diesel from Saturday as wholesale costs continue to fall. It means motorists will pay no more than 114.7p per litre for unleaded and 125.7p [...]
Oil prices drop as Saudis hint Opec output cuts could be lower than expected December 6, 2018 Oil prices have dropped sharply this morning as Saudi Arabia hinted that a proposed cut in output could be smaller than expected. International standard Brent Crude fell 4.9 per cent bringing the price to $58.71 per barrel. Oil producers’ cartel Opec is meeting today in Vienna in order to decide on a possible cut in [...]
Rigged and ready: After recent gains, are oil prices set to recover? December 4, 2018 The oil market has had a tough time this year, with prices sliding since October. And yet, there’s been a radical turn of events over recent days, with the picture looking drastically different as the markets opened for trading this week. In fact, one of yesterday’s biggest market movements was oil, with brent crude surging [...]
Oil prices soar as US and China agree to hold fire in trade war December 3, 2018 Oil prices soared overnight after a ceasefire in the US-China trade war was announced yesterday. International standard Brent crude was up 4.7 per cent to $62.42 a barrel this morning UK time. At the G20 meeting in Argentina over the weekend the US and China, the world’s two largest economies, agreed not to impose new [...]
Junk corporate bond outflows of $2.9bn fuelled by falling oil prices November 30, 2018 The junk corporate bond market has seen outflows surge this week fuelled by a drop in oil prices. High-yield bonds saw outflows of $2.9bn (£2.27bn) in the week to Wednesday, bringing the three-week total outflows to $8.8bn. Outflows in investment grade corporate bonds hit $2.5bn, reaching $8.8bn over the last three weeks, according to research [...]
Oil prices hit one-year low after worst month since financial crisis November 30, 2018 Oil prices are struggling at more than a one-year low following its worst month since the financial crisis ten years ago. It has plunged 21 per cent during November, losing the returns it made throughout the year. Europe’s main share indexes in London, Frankfurt and Paris all sank, and Wall Street futures were pointing down [...]
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. [...]