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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Opponents lodge appeal against first fracking operation in the UK for five years

July 7, 2016

Opponents of a move paving the way for the first fracking operation in the UK for five years have applied for a judicial review. It comes after North Yorkshire county council's planning committee voted 7-4 in favour of a bid by Third Energy to extract shale gas at a site near Kirby Misperton in May. Read more: We need [...]
Norway union and oil industry talks break down as strike threat looms

July 6, 2016

Talks between Norwegian oil service workers and their employers broke down today, as the threat of strike action in Western Europe's biggest oil exporter loomed. The Norwegian Oil and Gas Association, which represents the employers, separately said the negotiations had been put on hold for the time being, Reuters reported. But the affected workers can't strike until [...]
Oil prices charge back from two-day drop ahead of US data

July 6, 2016

Oil prices ticked up after falling in early trading today, as global markets convulsed over Britain's vote to leave the European Union. Brent crude, the global benchmark, added 0.75 per cent to $48.32 per barrel this afternoon. Meanwhile, its US counterpart, West Texas Intermediate crude, swelled 1.01 per cent to $47.07. Read more: Tullow Oil shares [...]
Gold hits 28-month high as UBS calls “new bull run”

July 6, 2016

Gold prices soared to their highest level since 2014 today, as investment bank UBS called a new bull run for the precious metal. Spot gold touched a more than two-year high in early morning trading, and was last up 0.65 per cent to $1,365.22 an ounce. It surpassed the $1,358.20 mark hit on 24 June in the [...]
Tullow Oil shares tank as it announces $300m bond auction

July 6, 2016

Tullow Oil's latest bid to shore up its balance sheet sent the oil explorer's shares tumbling to a near three-month low. The FTSE 250-listed firm said it would offer $300m (£234.5m) convertible bonds. It comes just months Tullow agreed a $3.5bn loan deal, with access to $800m in April next year and an extra $200m available if needed. Read more: S&P downgrades Tullow amid low [...]
Sajid Javid set to return to Mumbai for Tata Steel talks post-Brexit vote

July 6, 2016

Business secretary Sajid Javid will fly to Mumbai this week for talks with Tata Steel, a spokesperson from the department for business, innovation and skills told City A.M. It comes amid reports that the Indian conglomerate, and potential buyers, shied away from sales talks following Britain's vote to leave the European Union. Tata had been considering a string of potential bidders, [...]
Bank of England: How climate change news affects energy firms’ share prices

July 6, 2016

Bloggers over at the Bank of England have looked at the effect of climate change news on energy firms' valuations. Central banks are paying more attention to whether climate goals will leave vast reserves of oil, coal and gas unburnable, meaning fossil fuel firms are overvalued. Bank of England governor, Mark Carney, previously warned investors [...]
Oil and gold emerge triumphant from first half market turmoil

June 30, 2016

Oil and gold emerged alive and kicking from the financial market turmoil which characterised the first half of this year. Markets have yo-yoed so far this year due to global growth concerns, speculation about another US interest rate rise and more recently Britain's vote to leave the European Union. Brent crude is on course for a 30 per cent [...]
Mark Carney’s summer rate cut hint sends gilts into negative territory

June 30, 2016

After much speculation, it's finally happened — gilts dipped their toe into negative territory earlier today. The yield on a UK gilt maturing in March 2018 fell from 0.14 per cent earlier today to just minus 0.003 per cent. Read more: The pound dived after Mark Carney laid the groundwork for a rate cut It came after Bank [...]
Why Goldman thinks its $50 oil forecast could be wrong

June 30, 2016

Most oil market pundits will tell you how hard it is to predict where the black stuff is heading. And while Goldman Sachs is the most influential commodities bank, like pretty much every forecaster, it has been known to get things wrong. Now it's said that crude could trade below its $50 forecast in the second half [...]

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By: Jessica Morris

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