Brent crude and WTI oil prices stabilise after early losses on Monday March 21, 2016 Oil prices stabilised from early losses on Monday morning as the market absorbed the news that the decline in the number of US oil rigs had halted. Last week, US energy firms added one oil rig in the first addition since December following 12 weeks of cuts, according to oil services firm Baker Hughes. Brent [...]
Non-Opec member Oman yet to be invited to Doha meeting March 20, 2016 Oman has said it’s yet to receive an invite to a historic meeting of oil producers, where they’re expected to discuss freezing output to support prices. This is despite Oman being the largest non-opec oil producer in the Middle East, pumping out around 1m barrels per day. "We have been exchanging some views with other oil [...]
Russia plane flying from Dubai crashes in city of Rostov-on-Don killing all 62 people on board March 19, 2016 A passenger jet flying from Dubai to the southern Russian city of Rostov-on-Don has crashed killing all 55 passengers and seven crew members on board. The FlyDubai Boeing 737-800 flight FZ981 missed the runway by 250m (800ft) as it attempted to land at 5.30am local time, officials say. "The aircraft hit the ground and broke into pieces," the [...]
Brent and WTI crude: Oil prices hit 2016 high above $42 March 18, 2016 Oil rose above $42 per barrel today, helped by growing optimism that producers could agree a production freeze deal and a weak dollar. Brent crude, the global benchmark, rose 1.64 per cent to $42.22 per barrel, having touched a 2016 high of $42.31 earlier in the day. West Texas Intermediate crude, the US benchmark, added 1.8 [...]
Donald Trump becoming next US president is a bigger risk to the world than jihadi terrorism and Brexit, according to the Economist Intelligence Unit March 17, 2016 China's economy experiencing a sharper-than-expected slowdown is the world's biggest risk, according to the wonks over at the Economist Intelligence Unit. "If China's economy slows by more than we currently expect, it will further feed the ongoing global commodity price slump, with a hugely detrimental impact on those Latin American, Middle Eastern and Sub-Saharan African states that [...]
Brent crude and WTI: Oil prices rise as producers announce meeting on output freeze March 16, 2016 Oil prices rose today on an upcoming meeting in Qatar to discuss freezing ouput at January levels. Brent crude, the global benchmark, rose 0.8 per cent to $39.05 per barrel this morning. Meanwhile, US West Texas Intermediate, the US benchmark, swelled by 1.2 per cent to $36.77. Opec sources told Reuters that a meeting of producers, [...]
As Putin starts pulling his troops out of the country, could peace finally be coming to Syria? March 16, 2016 Michael Kerr, director of the Institute of Middle Eastern Studies at KCL and author of The Alawis of Syria says Yes. On the same day that some of Syria’s warring factions attended talks in Geneva, again taking the initiative on Syria, Putin announced that Russia would withdraw some of its forces. This sent a message to the [...]
These are the happiest places to work in the world – Dublin and London top city job happiness index but Colombia is most satisfied country March 15, 2016 Londoners are the second happiest workers in Europe, but anyone wanting greater job satisfaction should head to Dublin. The Irish city ranks top when it comes to how happy people are at work, based on essential factors such as work-life balance, management and the salary and benefits on offer. In Europe, Stockholm is close behind, [...]
BlackRock adds its voice to warnings over market bounce, as rally begins to lose its lustre March 15, 2016 A market bounce since January and February lows is at risk of crashing back to earth, according to Russ Koesterich chief investment strategist at BlackRock. BlackRock is the latest financial institution to warn that the current rally may be short lived after Morgan Stanley yesterday said that economic and political circumstances may take its toll on company shares. The FTSE 100 [...]
India wants to unlock $40bn in oil and gas through reforms to encourage investment March 15, 2016 Global oil inventories continue to rise, ships are being lined up to hold oil, while agencies warn the world is "drowning" in the black stuff. But now India wants to unlock oil and gas resources worth almost $40bn (£28.2bn) by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields. It currently imports about [...]