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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IEA says global oil markets appear to be balancing

June 14, 2016

The International Energy Agency has joined the rising crescendo of voices which have said oil markets are moving towards balance. "At halfway in 2016, the oil market looks to be balancing," according to the IEA's widely watched monthly oil report released today. But this wasn't enough to lift investors' confidence, with oil prices staying below $50 per barrel. Read [...]
CMA takes over investigation of energy price comparison websites

June 14, 2016

Britain's competition watchdog is looking into whether energy tariff comparison websites' use of paid-for online search advertising breached competition law. The investigation was passed onto the Competition and Markets Authority (CMA) by energy regulator Ofgem after it found employees staff and representatives had previously expressed concerns to some of the parties under investigation. The CMA expects to make a decision [...]
Metlife: This is how much direct and indirect tax the average Brit pays per hour

June 14, 2016

Brits could be forking out a lot more in taxes than they realise. Employees are paying an average £1.25 an hour in direct and indirect tax, according to a new analysis by life insurance firm MetLife. Read more: It’s Tax Freedom Day – it may be the latest it’s been since 2001 but you’re finally earning for yourself And [...]
Smaller pension funds to suffer most if there’s a Brexit

June 14, 2016

Mercer has warned smaller pension funds are most at risk from potential market volatility in the wake of Brexit. It comes as fears about the financial market impact if the UK votes to leave the EU next week sent the CBOE Market Volatility Index (Vix), aka the Fear Index, to its highest level in three months yesterday. Read [...]
Oil falls back below $50 as global growth fears weigh

June 14, 2016

Oil tumbled today as global growth fears cast a dark cloud over signs that the embattled market could be starting to recover. Brent crude, the global benchmark, slumped 1.30 per cent to $49.70 per barrel, dropping for the fourth consecutive day. Meanwhile, the US benchmark, West Texas Intermediate crude, shed 1.40 per cent to $48.20. Read more: 120,000 UK jobs lost [...]
Energy suppliers billing blunders cost consumers £270m

June 8, 2016

Mistakes by energy suppliers led to nearly four million customers being overcharged by a total £270m last year. The blunders cost energy consumers £72 each, according to new research from independent price comparison and switching service uSwitch.com. The mistakes also cost customers their time, with nearly a fifth waiting between one to two months for an issue to be resolved, and 12 [...]
China has promised to curb steel capacity and “zombie enterprises”, US Treasury secretary Jack Lew says

June 7, 2016

China has promised to curb its steel capacity and wind down "zombie enterprises", according to the US treasury secretary Jack Lew. China has come under fire for flooding foreign markets with steel exports, resulting in what many see as an escalating trade war between in and the US. The US has slapped tax hikes of [...]
Brent crude and WTI: US oil hits fresh 2016 high on softer dollar, supply outages

June 7, 2016

Oil prices raced to a fresh 2016 high today, energised by expected falls in crude stockpiles and supply outages. Brent crude, the global benchmark, swelled 1.2 per cent to $51.17 per barrel this afternoon, after hitting an intra-day peak of $51.30 earlier, its highest since October. West Texas Intermediate crude, the US benchmark, jumped 0.8 per cent to [...]
Rio Tinto launches $3bn bond buyback as commodities brighten

June 7, 2016

Rio Tinto said today that it has launched a multi-billion bond buyback programme, as formerly tarnished metals price begin to shine one more. The firm intends to purchase up to $3bn of its 2018, 2020, 2021 and 2022 US dollar-denominated notes. It's trying to whittle down its debt pile, having bought $1.5bn of its 2017 and 2018 notes in April. Read [...]
General Electric backs German renewable battery start-up Sonnen

June 7, 2016

General Electric has bet on renewable energy storage with a stake in a lithium battery start-up. GE Ventures, the engineering giant's venture capital arm, paid a "double-digit million sum" for a slice of Bavaria-based start-up Sonnen, which has become Europe's largest maker of lithium-battery energy storage systems. Read more: Oil major Total makes near €1bn wager on renewable energy Sonnen, [...]

Two top flight clubs in same league to be owned by same firm after major sport decision

Premier League’s smallest stadium gets approval to begin £90m rebuild

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

By: Jessica Morris

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