Oil on track for biggest weekly jump in 4 years as US mulls intervention Energy The oil market is set for its biggest weekly gain in four years after the crisis in the Middle East sent ripples through the energy markets. The price of Brent crude has risen by around 18 per cent in the last week, tipping over $85 a barrel. Should the gains hold up, it would mark [...]
Dow Jones slides as FTSE 100 extends losses amid Iran strikes Markets Wall Street joined Europe as markets opened on Monday with losses spread across the board as tensions escalated across the Middle East. The Dow Jones dropped nearly one per cent on open to 48,534.58 whilst the S&P 500 shed around 0.7 per cent to 6,828.47. The tech-heavy Nasdaq tumbled 0.7 per cent to 22,505.32. In [...]
Oil prices spike as UK base hit by Iranian missile Energy Oil prices spiked this morning as tensions continued to escalate in the Middle East, raising concerns that a key shipping route could be halted and an Iranian missile attack on an RAF base could drag the UK into a regional war. The cost of a barrel of brent crude – the international benchmark for oil [...]
BP shares fall as net zero plans trigger hit of up to $5bn January 14, 2026 Oil giant BP has warned it will take a hit of up to $5bn in the final quarter of 2025 as the value of green energy projects withered. The FTSE 100 firm said it expects a write-down of between $4bn and $5bn (£3.7bn), as it rethinks its strategy for transition assets and partnerships in the [...]
BP: FTSE 100 giant replaces top boss after just two years December 18, 2025 FTSE 100 oil major BP has replaced its top boss after just two years in the role as the energy giant targets a major turnaround. BP will swap out incumbent boss Murray Auchincloss, who has been in the role since the start of 2024, for Woodside Energy chief Meg O’Neil. Auchincloss will step down with [...]
Petroineos: Sir Jim Ratcliffe-backed energy giant loses $250m October 24, 2025 Petroineos, the energy trading company backed by Sir Jim Ratcliffe, lost $250m (£187.5m) in 2024 as it slumped into the red for the first time since 2020, it has been revealed. The Jersey-based business has reported the pre-tax loss after posting a profit of $30m in 2023. The results for the previous financial year were [...]
Shell: FTSE 100 giant takes profit beat amid weak oil prices July 31, 2025 FTSE 100 juggernaut Shell posted a dramatic hit to earnings in the second quarter amid a volatile period for oil and gas prices. The London-listed oil major recorded $4.26bn (£3.21bn) marking a 32 per cent fall from the second quarter of 2024, where the firm pocketed $6.29bn. But Shell managed to scrape past an LSEG-compiled [...]
Taxpayers on the hook for at least £1bn after Lindsey oil refinery closure July 4, 2025 British taxpayers could be forced to pay up more than £1bn following the collapse of the Lindsey oil refinery in North Lincolnshire last week. Sources told the Times HMRC is owed unpaid taxes of around £250m, while the facility’s decomissioning costs could run from anywhere between £700m and £3bn. At least 420 jobs were put [...]
FTSE 100 held back by Shell and BP as pound hits three-year high June 24, 2025 The FTSE 100 edged up and the pound hit a new high as investors flocked back to risk on Tuesday, but London’s blue-chip index’s rebound was held back by the falling price of oil. The UK’s flagship index nudged up 0.3 per cent in early trading to around 8,7883. But significant gains were held back [...]
Lammy: Iran blocking Strait of Hormuz would be ‘catastrophic mistake’ June 23, 2025 Foreign secretary David Lammy has warned Iran that blocking the crucial Strait of Hormuz shipping lane would be a “mistake” after the nation vowed repercussions following the US’ attacks. Lammy told the BBC this morning: “It would be a catastrophic mistake. It would be a mistake to blockade the Strait of Hormuz.” The foreign secretary [...]