Brent crude and WTI: Oil prices extend losses as oversupply concerns weigh March 15, 2016 Oil prices extended losses from the previous session today, as oversupply concerns clipped the wings of a six-week rally which had stemmed from optimism that the market had bottomed. Rising US stockpiles and Iran's refusal to join an a deal to freeze output at January levels, led by de facto Opec leader Saudi Arabia and [...]
End delays to London City Airport expansion and the whole UK will see the benefits March 15, 2016 UK airports had their busiest ever summer last year, collectively handling 78m passengers, and the indicators are that 2015 as a whole was the busiest year on record. London City Airport certainly had a record-breaking year, with 18 per cent growth in passengers to 4.3m. More people than ever are taking to the skies and [...]
Putin orders Russian troops from Syria declaring mission accomplished, as foreign ministry tasked with intensifying attempts to broker a peace deal March 14, 2016 Russian President Vladimir Putin has ordered the main part of the Russian military to begin withdrawing from Syria, claiming the mission has achieved its objectives. According to a Kremlin spokesman Putin telephoned his ally Syrian President Bashar al-Assad to inform him Russian forces will begin to leave the country from Tuesday. Russia's role in the conflict allowed Syria to recapture territory from [...]
Opec is predicting lower demand for oil in 2016, resulting in an increase in excess supply in the market March 14, 2016 Global demand for oil is expected to be less than previously thought in 2016, according to the Organization of the Petroleum Exporting Countries (Opec). Opec has put demand for crude at an average of 31.52m barrels per day in 2016, down 90,000 from last month's forecast. In its latest month report Opec has also predicted that supply from non-Opec [...]
Russia predicts oil production freeze deal could be signed in April March 14, 2016 A historic deal among some of the world's biggest oil producers to freeze production could be inked in April and exclude Iran, Russian energy minister Alexander Novak said today. Speaking after a meeting with Iranian officials in Tehran, Novak said Iran has a right to duck out of the deal until the recovery of its oil output, which had [...]
Mars mission: The Exomars launch date is here – everything you need to know about when and where to watch the take off live stream and what the red planet mission is all about March 14, 2016 European scientists are right now shooting a rocket into space from the deserts of Kazahkstan with the ambitious intention of landing it on Mars. The ExoMars mission, a collaboration between the European Space Agency (ESA) and Russia, will send an orbiting spacecraft and rover on its journey firstthing on Monday morning. By October, seven months later, they will conduct studies to shed light on the mysterious [...]
Iran will join output cap talks once it hits four million barrels per day March 13, 2016 Opec rebel Iran has said fellow members of the oil cartel should leave the country alone until it has raised production to over four million barrels per day. The country, which wants to rebuild its market share after a trade embargo, indicated it would then be interested in attending historic talks between Opec and Russia to [...]
Watch out everyone: Britain is being sued for lack of action over nuclear disarmament… by the Marshall Islands March 11, 2016 This week the UK began mounting its defence in one of the more unusual international trials of recent years: in a case brought by the Marshall Islands to the International Court of Justice (ICJ), which claimed the world's nuclear powers are not fulfilling their obligations to disarm. The tiny Pacific republic, which has a population of [...]
FTSE 100 closes lower after ECB president Mario Draghi takes stocks on a rollercoaster ride of emotions March 10, 2016 Oh, Mr Draghi. What have you done to us? The FTSE finished almost 1.8 per cent lower at 6,036.7 points today – perilously close to the 6,000 mark – after European Central Bank (ECB) president Mario Draghi sent equities (and the euro. And gold) on an emotional rollercoaster ride. The index started the day off undulating gently, before rising [...]
First US shale gas shipment heads to Europe amid price war risk March 10, 2016 The first shipment of US shale gas earmarked for Europe left its terminal today, as analysts warn it could spark a price war with market leader Russia. Chemical company Ineos said one of its ships carrying liquefied natural gas had embarked on the 3,600 mile journey from Philadelphia to a purpose built storage tank in Norway. Jim Ratcliffe, chairman [...]