Global stock markets and sterling slide as economic slowdown fears continue into new year January 2, 2019 Global markets have started the year in the red as investors struggle to shake off the economic slowdown fears that plagued stocks last year, while the pound has taken a more than one per cent hit against the dollar on the first day of 2019 trading. The FTSE 100 was down more than one per [...]
Ophir shares soar as it catches the eye of Indonesian giant Medco January 2, 2019 Medco’s potential bid for London-listed Ophir Energy would create a strong player in south east Asia, but could fall through over price disagreements, analysts said today. Ophir's stock surged this morning after confirming talks with Medco over a potential offer for the business. Shares rose by around a third to as high as 50.8p per share today, [...]
Oil prices fall as oversupply fears continue despite planned cuts January 2, 2019 Oil prices fell by roughly one per cent this morning as planned output cuts fail to allay fears about a global economic slowdown. Brent crude oil, the global benchmark, slipped to $53.19 a barrel, down roughly one per cent on its closing price for 2018. West Texas Intermediate also fell more than two per cent to [...]
Oil prices drop as investor confidence plateaus following a rally on the markets yesterday December 27, 2018 Oil prices fell this morning after a rally which saw the price of Brent crude soar around eight per cent yesterday. International standard Brent crude fell around one per cent to $53.92 per barrel in the early morning as worries over increased supply and poor global economic conditions helped mitigate upwards pressure from the stock [...]
Oil prices hit new 14-month low after global selloff December 20, 2018 Oil prices fell to another 14-month low earlier today as markets worried a slowdown in the US economy could hit demand. The Brent crude standard dropped over four per cent to breach the $55 per barrel mark, landing as low as $54.82. Speculators were spooked after international markets fell on the US Federal Reserve’s decision [...]
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 [...]