Oil prices rally above $30 – but fail to hold onto gains March 20, 2020 Oil prices rallied today following a torrid week due to the outbreak of coronavirus and the fallout of a huge price war. The price of Brent Crude opened just over $30 a barrel this morning after falling to $26 yesterday. But it then slipped back almost two per cent to $27.92. World Texas Intermediate (WTI) [...]
Coronavirus: US stocks lift on stimulus measures despite Europe turmoil March 20, 2020 US stocks lifted slightly on the open this afternoon as traders reacted to massive amounts of government stimulus aimed at containing the coronavirus crisis. The S&P 500 dipped 0.5 per cent before rising just 0.1 per cent and the tech-heavy Nasdaq rose 1.3 per cent. The Dow Jones posted a 0.5 per cent rise shortly [...]
CMC’s shares jump as it raises forecast again after trading volume surge March 20, 2020 Trading platform CMC Markets surged in early trading as it boosted its annual earnings target for the fourth time in less than six months. CMC expects net operating income ahead of market consensus at £219m, and profit before tac of £72.9m. Shares jumped 16.11 per cent to 156.75 on the FTSE small-cap index. CMC said: [...]
Call for government to support oil and gas industry amid triple challenge March 19, 2020 The UK’s oil and gas industry has called on the government to help the sector as it faces three separate challenges, that could see production plummet. Oil and Gas UK (OGUK) highlighted coronavirus, gas prices being halved and the sinking oil price as threats to the industry. Boss Deirdre Michie highlighted the need for key [...]
Oil prices sink below $28 on Covid-19 travel bans March 18, 2020 Oil prices have fallen below $28 a barrel as coronavirus continues to batter the world economy. Worldwide travel bans as a result of the worsening Covid-19 pandemic have driven oil prices down even further after a price war between Saudi Arabia and Russia. The price of Brent crude fell four per cent to $27.64 today. [...]
Oil price goes below $30 a barrel following brief rise March 17, 2020 Oil prices have fallen below $30 a barrel due to coronavirus uncertainty and the Russia-Saudi Arabia price war. This comes after they staged a slight rise this morning as investors searched for a bargain. Brent crude fell to $29.82 a barrel having peaked earlier at $31. Stephen Innes, chief markets strategist at Axicorp told Reuters [...]
Oil prices slide as coronavirus and price war roil markets March 16, 2020 Oil prices slipped below $30 a barrel in afternoon trading as an emergency interest rate cut from the US Federal Reserve failed to calm fears about a global recession caused by coronavirus. The Brent crude oil price was last down 11.1 per cent at $30.10, its lowest price since 2016. West Texas Intermediate was down [...]
B&Q owner Kingfisher’s shares dive on European store closures March 16, 2020 Shares in B&Q owner Kingfisher plunged this morning after the DIY retailer warned that sales were expected to take a hit as stores closed across Europe due to the outbreak of coronavirus. The firm’s share price dropped more than 19 per cent after it was forced to shutter 221 of its Castorama and Brico Depot [...]
Economists warn of global recession as coronavirus spreads March 15, 2020 The International Monetary Fund (IMF) says a global recession comes when annual international growth slips below 2.5 per cent. More charitable economists say it has to fall below two per cent. Either way, economists around have warned in recent days, the coronavirus outbreak means the world is heading for one. Covid-19 last week spread rapidly [...]
Saudi Aramco cuts spending as profit drops 21 per cent following record float March 15, 2020 Saudi Aramco today said it will cut capital spending this year as the oil giant braces for a slump in oil prices caused by the coronavirus outbreak and a price war with Russia. The state-run company broke the record for the largest ever initial public offering (IPO) in December after it raised $25.6bn (£21bn), securing [...]