Brent crude and WTI: Oil hits fresh 2016 high on smaller-than-expected US crude stockpiles April 20, 2016 Oil prices hit a fresh 2016 high today, after smaller-than-expected US crude stockpiles quelled oversupply fears sparked by an earlier estimate. Analysts, traders and commentators are keeping a close eye on oil data out of the US for signs that the market is starting to rebalance, with inventories being drawn down as shale gas producers are forced [...]
Rio Olympic Games 2016: Russia stakes claim for ban to be lifted by announcing anti-doping crackdown April 20, 2016 Russia has stepped up efforts to have the ban on its athletes lifted in time for this summer’s Olympic Games in Rio de Janeiro by announcing measures to tackle its doping crisis. The country’s anti-doping system, accused of being complicit in the state-sponsored and widespread use of banned substances, is to be overseen by two independent [...]
Fifa president Gianni Infantino urged to raise Qatar human rights abuses on visit to 2022 World Cup host April 19, 2016 Fifa president Gianni Infantino has been urged to use a visit to Qatar to voice concerns over the gulf state's treatment of migrant workers. The recently-elected head of world football's governing body travels to Russia and Qatar this week to meet with the organising committees of the 2018 and 2022 World Cups respectively. Despite constant controversy [...]
As its latest talks in Doha end in complete failure, has oil cartel Opec now lost all credibility? April 19, 2016 William Lamond, senior investment manager at Canaccord Genuity Wealth Management, says Yes. November 2014 – Saudi Arabia (Opec’s only true swing producer) decided to defend market share instead of cutting production to support pricing. The belief? A short-term weakness in crude oil prices would significantly reduce non-Opec supply. Sixteen months later, crude oil prices have fallen, [...]
Brent crude and WTI: Oil price drop after Doha cushioned by Kuwaiti strikes April 18, 2016 The sharp drop in oil prices following the collapse of talks in Doha was cushioned by a Kuwaiti oil industry strike today. Brent crude, the global benchmark, tumbled more than seven per cent in early trading after oil majors, Opec (the Organisation of Petroleum Exporting Countries) and Russia failed to agree on a plan to freeze [...]
A man who studied rich people for five years found they avoid one type of person April 18, 2016 Who you hang out with matters more than you may think. In fact, your friendships could have a major impact on your net worth. After researching the daily habits of wealthy people for five years, author Thomas C. Corley found that they avoid one type of person at all costs: pessimists. "Self-made millionaires are very [...]
EU referendum: Treasury’s Brexit claims rubbished by Vote Leave MP John Redwood April 18, 2016 Conservative MP and Vote Leave campaigner John Redwood has rubbished the Treasury's claims that a Brexit would cost each household £4,300 a year as "absurd". Last night it emerged the government department's analysis into the impact of the UK leaving the European Union – which was published today – would show that Britain's national income could be six [...]
EU referendum: This is what the Treasury thinks will happen if we vote for a Brexit April 18, 2016 A day after revealing its top line (and allowing plenty of time for the pro-Brexit camp to offer their arguments against it), the Treasury has released its 200-page report into the impact leaving the European Union will have on the UK. In it, the government department argues that whichever way you cut it, "the UK’s [...]
Oil prices slump after Doha meeting fails to yield result on production freeze between Saudi Arabia-led Opec and Iran April 18, 2016 Oil prices plunged this morning, after some of the world's biggest producers failed to reach an agreement over freezing production during a historic meeting in Doha yesterday. Ministers said late yesterday that more time for talks was needed before a production freeze could be brought about. The stand-off sent oil prices down this morning. WTI Crude [...]
World Energy Council: Cyber threat to world energy April 17, 2016 The UK is at risk of a potentially devastating attack against its energy infrastructure, according to the head of the World Energy Council. Speaking to City A.M., Christopher Frei, director general at the World Energy Council, said the UK was one of several countries facing a growing threat. “In the last two years this issue has [...]