FTSE 100 bounces back as Trump declares end to oil price war April 2, 2020 The FTSE 100 looked set to end the day on a high as US President Donald Trump said Saudi Arabia and Russia had ended their oil price war. Energy stocks jumped to propel the London index back into the green after a tumultous day for global stocks. Staggering data showed 6.6m US jobless claims occurred [...]
Oil prices soar as Donald Trump reveals Saudi-Russia deal April 2, 2020 Oil prices soared this afternoon as US president Donald Trump said that Saudi Arabia and Russia had agreed a deal to end their price war and curb production. Brent Crude shot up nearly 22 per cent within half an hour of the president’s revelation, which was made over Twitter. The benchmark is now trading at [...]
US stocks rebound after Donald Trump announces oil deal April 2, 2020 US stocks have rebounded after President Donald Trump said Saudi Arabia and Russia have agreed to cut oil production, boosting prices and helping energy companies in the middle of the coronavirus slowdown. The rise on Wall Street came despite US jobless claims surging. The number of Americans claiming unemployment benefits for the first time hit [...]
Oil prices jump as Donald Trump hints at imminent Russia-Saudi Arabia deal April 2, 2020 Global oil prices climbed off the floor of 18-year lows this morning after US president Donald Trump said he expected Saudi Arabia and Russia to reach an agreement soon to put an end to their price war. The combination of a production war and a slump in global demand due to widespread lockdowns caused by [...]
BP to take a $1bn writedown due to oil price collapse April 1, 2020 BP expects to take a write down of up to $1bn for the first quarter of 2020 as the oil giant feels the strain of the recent oil price collapse. Across the whole year, the firm will reduce spending by 20 per cent and also halve investment in its shale oil business. In a statement, [...]
Oil prices slump again as US ramps up production April 1, 2020 Oil prices fell again this morning, just days after they touched an 18-year low amid a massive slump in demand and oversupply concerns. Brent crude sank 3.6 per cent today to hit $25.40. And West Texas Intermediate (WTI) dropped 1.3 per cent to teeter on the edge of the $20 mark, at $20.21. Two days [...]
FTSE 100 marks worst quarter since 1987 despite rise today March 31, 2020 The FTSE 100 rose marginally today after China’s factories showed signs of bouncing back in March, but still delivered its worst quarter since 1987 as investors panic over coronavirus. Britain’s blue-chip index closed 1.68 per cent higher today at 5,657 points. That pushed on from yesterday, when the FTSE 100 rose as the spread of [...]
Shell takes $800m hit on oil price collapse March 31, 2020 Oil giant Shell will write down up to $800m (£648.8m) in impairment charges in the first quarter of 2020 due to the global collapse in oil prices, the Anglo-Dutch firm warned today. The combination of plummeting demand for fuel due to the coronavirus pandemic and a production war between Saudi Arabia and Russia has sent [...]
What impact is Covid-19 having on global economies and markets? March 31, 2020 The impact of the new coronavirus (Covid-19) pandemic continues to play out. The extent to which the virus will spread, both between and within countries remains unclear, and the duration and impact are highly uncertain. Sadly, the human impact continues to grow, and the virus has now claimed the lives of over 22,000 people, as [...]
Coronavirus: Oil prices plunge to 18-year low March 30, 2020 Oil prices have tumbled to an 18-year low, dragging down Asian stocks as coronavirus continues to hit economies and Saudi Arabia shows no sign of ending its oil price war with Russia. Brent crude oil fell 5.7 per cent to $23.52 per barrel this morning, its lowest level since 2002. US crude fell 3.9 per [...]