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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RAC says petrol prices below £1 a litre “distant memory”

June 4, 2016

The RAC declared the days of sub £1 a litre petrol a "distant memory" as it said prices rose for the third consecutive month in May. The average unleaded pump price rose 2p to 110.59p a litre, while the average diesel forecourt price jumped 2.2p to 110.7p. Average supermarket prices for petrol and diesel increased by two per cent [...]
Santander’s Madrid headquarters visited as part of HSBC tax probe

June 3, 2016

Police visited Santander's Madrid headquarters today, as part of a money laundering probe triggered by a historic leak of information from HSBC's Swiss private bank. The probe is linked to alleged tax avoidance and it isn't yet known how much money is involved. A spokesperson for the High Court told Reuters that the police had conducted the visit [...]
Oil loses fight to stay above $50 as investors weigh Opec meeting

June 3, 2016

Oil lost its fight to stay above $50 today, as investors reacted to a closely-watched meeting of the Organisation of Petroleum Exporting Countries (Opec). Brent crude, the global benchmark, fell 0.3 per cent to $49.90 per barrel today, having broke through the $50 threshold earlier. West Texas Intermediate, the US benchmark, also slumped 0.3 per cent to $49. Read [...]
German and French economic growth forecasts cut

June 3, 2016

France and Germany have had their growth forecasts trimmed, in another sign that the Eurozone's economic recovery could be at a low ebb. Germany's central bank, the Bundesbank, chopped its gross domestic product forecast by 0.1 percentage points to 1.7 per cent for this year, and by 0.3 percentage points to 1.4 per cent in 2017. Read more: Inflation [...]
Children’s average weekly pocket hits nine-year high

June 3, 2016

Kids across the country are rolling in cash, with average weekly pocket money soaring to a nine-year high. Generous parents have increased their sprogs' average weekly pocket money by nine per cent to £6.55 in the last year, according to the annual Halifax pocket money survey. Read more: The surprising impact on your earnings if you have kids [...]
Iran’s supreme leader Khamenei slams “evil” Britain and the US

June 3, 2016

Iran's Supreme Leader said it would be a mistake to trust "evil" Britain and the United States. Supreme Leader Ayatollah Ali Khamenei, Iran's most powerful figure, is a hardliner. This is in contrast to centrist President Hassan Rouhani, architect of its nuclear deal with six international powers last year. Speaking during a live broadcast on state TV, Khamenei said: [...]
Blackout risk if subsidies for small diesel generators are scrapped

June 2, 2016

Britain could be more vulnerable to future blackouts if Ofgem recommends scrapping subsidies for highly polluting small diesel generators. Big four accountancy firm KPMG said if this became law it would threaten the construction of these, as well as less polluting gas plants, which are already in the pipeline due to the subsidies awarded the government's "capacity market" [...]
Brent tumbles after Opec fails to agree an oil production ceiling

June 2, 2016

Oil tumbled after the Organisation of Petroleum Exporting Countries (Opec) failed to agree a production ceiling at a widely watched meeting in Vienna today. Brent crude, the international benchmark, plunged 1.3 per cent to $49.1 per barrel. It had climbed above the $50 mark this morning, hitting its highest level in a week. West Texas [...]
Rio Tinto says it Lithium project has proven to be “an attractive investment”

June 2, 2016

Rio Tinto has signalled it's increasingly interested in lithium, with future demand expected to soar due to the take up of electric vehicles. Dean Gehring, president and chief executive officer, was quoted in its in-house publication saying: "The Jadar project is strategically important for Rio Tinto Minerals and will complement our existing operations." Read more: BlackRock [...]
Elon Musk wants to put people on Mars by 2025

June 2, 2016

Star-gazing serial technology entrepreneur Elon Musk wants to put people on Mars in under 10 years time. Speaking at Vox's media code conference, he said that his SpaceX company's manned mission to Mars would launch in 2024, arriving a year later. However, prospective recruits may want to think twice before joining the mission. "If you gotta choose a place to die, [...]

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By: Jessica Morris

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