Emirates profit sinks to a 10-year low as jet fuel bill takes off May 9, 2019 Gulf carrier Emirates has reported its lowest profit in 10 years, blaming a stronger US dollar and sky-high fuel costs. The full-service airline said its net profit fell 69 per cent fell to 871m dirhams (£182m) in the year to 31 March. Read more: Thomas Cook shares leap following Lufthansa bid for airline business The number [...]
BP profits drop but beat expectations as weaker oil prices squeeze margins April 30, 2019 BP saw profits sink in the first quarter of 2019, blaming weaker oil prices and squeezed margins, but the oil giant still managed to beat expectations. Read more: Equinor joins Shell and BP on climate change after investor pressure The figures Underlying replacement cost (RC) profit for the three months to the end of March [...]
North Sea explorers get boost as US clamps down on Iran oil exports April 23, 2019 Toughened sanctions against Iran helped push up oil prices over the weekend, lighting a fire under London-listed exploration companies today. The cost of international standard Brent crude has risen 2.9 per cent over since Friday, hitting $74.68 per barrel – its highest point since October. Read more: FTSE 100 climbs to fresh six-month high as [...]
FTSE 100 climbs to fresh six-month high as oil giants surge on tighter US sanctions on Iran April 23, 2019 The FTSE 100 climbed to a new six-month high for the year this morning as oil giants saw shares rise as oil prices rocketed. The blue chip index rose 0.4 per cent in early trading to 7,490 points – its highest since 3 October. Read more: Oil prices reach fresh 2019 high as US tightens sanctions [...]
Oil prices reach fresh 2019 high as US tightens sanctions on Iran April 22, 2019 The price of crude oil climbed over three per cent today following the announcement by the US government that it will end exemptions from Iranian oil sanctions that it granted to countries such as China, India and Japan. Read more: Oil prices reach new 2019 high as tensions rise in Libya Secretary of state Mike Pompeo [...]
FTSE 100 ends week strong with biggest gain in two months April 6, 2019 The FTSE 100 ended the week strongly as it gained 0.61 per cent during Friday's session and saw its biggest weekly increase for two months. The index continued its six-month high, outshining its European peers despite the on-going Brexit saga. Optimism grew early on as US President Donald Trump said a deal to end the US-China [...]
Oil prices rise as US president Donald Trump asks Opec to push them down March 28, 2019 Oil prices rose this afternoon after US President Donald Trump called on Opec to increase exports, saying prices were getting too high. International standard Brent crude was trading down to $66.55 at around 1.20pm this afternoon. Read more: Oil prices give back gains after hitting 2019 highs But after a Trump tweet ten minutes later, [...]
Oil prices drop on the back of slow US job growth March 9, 2019 Oil prices fell by around 1 per cent on Friday on the back of news that US job growth was a lot slower than expected, reigniting concerns that the economy was slowing and that there was a lack of demand for oil. An increase in US oil supply also unsettled the market as Brent crude [...]
Brazil overtakes Russia as biggest exporter to small Chinese refineries as trade war slashes US imports March 5, 2019 Brazil overtook Russia as the biggest supplier of crude oil to China’s independent refineries last month, as the trade war with the US transformed global oil supply lines. Crude shipments from the South American country hit 2.17 million tonnes in February, overtaking Russia, however they were down 5.4 per cent from January, data from S&P [...]
Oil prices end the week down on global demand worries March 2, 2019 Oil prices ended Friday 2 per cent down, finishing the week around 3 per cent lower on concerns over global demand following weak US manufacturing data that overshadowed supply cuts and sanctions on Venezuela and Iran. After a promising start to the session to over a three-month high, crude fell sharply on demand worries, while [...]