By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Brent and US crude: Oil prices rise above $30 per barrel on hopes of deal to ease supply glut

January 26, 2016

Oil prices rose above $30 per barrel today, on hopes the world's oil producing nations could reach deal to tackle the global supply glut. Brent crude, the global benchmark, rose five per cent to as much as $32.24 per barrel this afternoon while West Texas Intermediate (WTI) crude, the US benchmark, ticked up to $31.89. The Organisation of the [...]
World Bank cuts its oil price forecast to $37 per barrel

January 26, 2016

The World Bank cut its 2016 oil price forecast to $37 per barrel in its quarterly report released today, from $51 outlined in October. The Washington-based organisation cited Iran’s return to the market, alongside the increased resilience of the US shale gas industry. On the demand side, it pointed to warm weather in the Northern Hemisphere and [...]
US crude and WTI: Credit Suisse slashes oil price forecasts by more than $10

January 26, 2016

Credit Suisse has become the latest big bank to slash its oil price forecasts, to the tune of around $10 per barrel for 2016 and 2017, on high inventories and slower demand growth. The Swiss-based bank cut its 2016 price forecast for Brent crude to $36.25 per barrel from $58.00, while lowering its 2017 outlook to [...]
Another Royal Dutch Shell shareholder Allianz Global Investors backs its takeover of BG

January 26, 2016

Another Shell shareholder has thrown its weight behind the oil giant's takeover of BG. Oil prices have nearly halved since Shell made the £47bn bid for BG in April, subjecting the deal to increased scrutiny. One shareholder subsequently warned the deal no longer makes sense with the oil price so low. But Chris Wheaton, an oil analyst [...]
London Land Commission: The capital has room for 130,000 new homes

January 26, 2016

London has room for at least 130,000 new homes on surplus land owned by the public sector, according to a report released today. The London Land Commission, which is co-chaired by the mayor and housing minister, has published an interactive map showing which parts of London are owned by public organisations such as boroughs, the police and transport [...]
Goldman Sach’s head of commodities research Jeffrey Currie: More oil price volatility as storage hits capacity

January 26, 2016

The global supply glut means millions of barrels of oil are sitting in tanks at oil fields and ports waiting for export across the world – but Goldman Sachs has warned storage space is running out. There’s no precise figure on oil storage capacity, with very little data outside of the OECD. But Goldman's head of commodities research, Jeffrey Currie, [...]
London mayor Boris Johnson presses ahead with plans for 3,000 new houses in Beam Park

January 22, 2016

Mayor of London Boris Johnson is pressing ahead with plans to transform a derelict factory plant, which once formed the backdrop to popular film "Made in Dagenham", into 30,000 new homes. Johnson today announced that developer Countryside Properties with Quadrant Housing Trust will take forward the regeneration of Beam Park. This includes a new train station which will run [...]
Brent crude and WTI: Oil set to clock first weekly gain this year on cold weather

January 22, 2016

Oil prices are set to clock their first weekly gain this year, as freezing weather and snowstorms in parts of the US and Europe boosts demand for heating oil. Brent crude, the global benchmark, jumped seven per cent to $31.30 per barrel, while West Texas Intermediate crude, the US benchmark, increased 6.26 per cent to $31.38. [...]
Petroceltic share price soars on buyout interest from shareholder Worldview

January 22, 2016

Shares in Irish oil and gas explorer Petroceltic leapt this morning on the news it could be bought out by its biggest shareholder, hedge fund Worldview Capital. Petroceltic shares rose as much as 108.69 per cent to 24p per share after activist investor Worldview confirmed its interest in the London-listed company. They'd had fallen from £2.21 in October 2014, in the wake of a [...]
UK public borrowing figures for December mean Chancellor George Osborne is unlikely to meet his fiscal target

January 22, 2016

Economists have warned UK public sector finances aren't improving quickly enough for the government to meet its deficit-reduction target laid out in the Autumn Statement. Public borrowing, excluding state-controlled banks, fell to £7.47bn in December from £11.7bn a year earlier, figures from Office for National Statistics (ONS) have shown. This also beat economists' expectations for a decline to [...]

Wes Streeting: Progress on NHS delays as private insurance soars

Real Madrid top Deloitte Football Money League as Champions League revamp boosts Premier League’s rivals

This hotel on the Elizabeth Line is 30 minutes from London but feels totally remote

By: Jessica Morris

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