PwC tells emerging economies to get their act together on banking reforms April 8, 2016 Some of the world’s largest economies would be dangerously exposed in the event of a fresh banking crisis, PwC has warned, as it calls for emerging economies to push forward on reforming their financial sectors. With commodity prices volatile and GDP growth slowing, PwC has raised fears that the developing world has not made sufficient progress on [...]
Brent crude and WTI: Where big banks think the oil price is heading next April 8, 2016 Speculation about when the tarnished black gold will recover continues to swirl around financial markets. The chatter is growing louder as the world's major oil producers prepare for a crunch meeting due to take place in Doha next Sunday. They're widely expected to firm up a preliminary oil freeze deal in February between four countries – Saudi Arabia, [...]
Oil price sinks as Keystone shutdown fails to prevent US stockpile build at key Cushing hub April 7, 2016 The price of a barrel of oil has slid by around two per cent today after the shutdown of the Keystone pipeline last week failed to hold back the rising tide of oil. Inventories at the Cushing, Oklahoma delivery hub added 255,804 barrels according to market intelligence firm Genscape. Brent crude was trading at $38.81 at the [...]
Oil price yo-yos back up as the latest US stockpiles show a surprise fall April 6, 2016 The oil price has bounced today after stockpiles in the US showed a shock decline, despite investors expecting a new record high. The oil price is up today by around five per cent, with international benchmark Brent crude trading at $39.77, while US oil hit $37.96. The US Energy Information Administration (EIA) reported that stocks of [...]
Russia reveals more details about potential freeze deal April 6, 2016 Russia has revealed more details about a potential freeze deal between Opec and non-Opec producers that could come out of a meeting in Doha. Sources told Reuters that Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance. It also expects a production freeze deal to accelerate this process by [...]
Kuwait’s Opec governor says all signs point to freeze deal April 5, 2016 Kuwait has said that all signs point to a freeze deal at a meeting between Opec and the world's biggest oil producers later this month. In a speech at the oil ministry, Kuwait's Opec governor Nawal Al-Fuzaia, didn't elaborate on which signs point to an agreement at the talks in Doha on 17 April. Read more: Ex-Shell boss [...]
Brent crude and WTI: Oil prices continue to fall as oversupply concerns grow April 5, 2016 Oil prices fell for the second day in a row this week, as weaker demand for petrol fed into concerns that the world's oil producers will be unable to agree a freeze deal. Stronger appetite for petrol in both North America and Asia has helped put a floor under Brent crude prices which have tumbled around 70 [...]
Who leaked the Panama papers? April 4, 2016 How do you leak 2.6 terabytes of data? That's 11.5m records, 4.8m emails and 2.1m PDFs – 40 years worth of data, about 214,000 offshore entities and numerous famous names and faces and how they secretly arranged their taxes. The Panama papers leak is the biggest in history – but how did it ever get leaked and who was [...]
FTSE 100 traders catch breath, but oil prices still raising temperatures on steady day for markets April 4, 2016 It was easy-going on the stock markets today as investors caught a rare breather after a 2016 which has already had more than its fair share of twists and turns. The FTSE 100 closed the day up a modest 0.27 per cent at 6,164, though it was a day of up-and-down as an unconvincing mid-morning assault on last week's summit [...]
Oil price hits one month low as production freeze deal begins to show cracks April 4, 2016 The price of oil has dropped to its lowest in a month as investors fret over the increasingly shaky looking deal between Russia and the Organization of the Petroleum Exporting Countries (Opec) to freeze production at January levels and clear a global supply glut. In mid afternoon trading a barrel of international benchmark Brent crude was going for [...]