Brent crude and WTI: Global oil prices back below $40 as oversupply concern weighs March 10, 2016 Oil prices fell today, as seasonal changes fed into fears that the recent rally would be short lived. Brent crude, the global benchmark, fell three per cent to $39.8 per barrel this afternoon. Meanwhile, US West Texas Intermediate, the US benchmark, slumped 2.3 per cent to $37.4. Analysts said they expect refineries around the world to buy less oil [...]
Latin American oil producers push back early meeting on output freeze March 10, 2016 Latin American oil producers have postponed a meeting due tomorrow, where they would have coordinated support for an output freeze or other measures to bolster low oil prices. Scheduling difficulties mean the meeting between Venezuela, Colombia, Ecuador and Mexico will now take place at the end of this month or the beginning of April. "One of the problems [...]
EU referendum: Can the European project succeed? Using an M&A template, the chances of success are very small indeed March 9, 2016 In the ongoing EU debate, both sides make a persuasive case. Remainers are right to say that the EU has helped to liberalise trade, at least within Europe itself. Outers are right to say that the EU is openly working to transform Europe from a community of nations to a federation of regions. Those who [...]
Brent crude and WTI oil prices: Brent falls back below $40 a barrel in choppy trade March 8, 2016 Oil prices wavered in and out of the red today, as investors weighed mixed messages from the market. Brent crude, the global benchmark, fell 2.2 per cent to $39.94 per barrel in afternoon trading. Meanwhile, West Texas Intermediate crude, the US benchmark, slumped 2.7 per cent to $36.88 They'd inched into positive territory earlier, with analysts telling Reuters [...]
Maria Sharapova drugs test scandal “a load of nonsense” claims Russian tennis boss March 8, 2016 The head of Russian tennis has hit back at the drugs scandal engulfing Maria Sharapova, describing it as "just a load of nonsense". Russian Tennis Federation president Shamil Tarpishchev said Sharapova's failed drugs test at this year's Australian Open would not prevent her from competing at the 2016 Olympics in Rio de Janeiro. On Monday [...]
Oil gushes past $40 per barrel March 7, 2016 The price of oil has surged over $40 per barrel for the first time this year, as shifting sentiment raises hopes that a 20-month price rout is finally coming to an end. Crude has climbed by almost 50 per cent from lows of $27 a barrel after sliding US production and discussions between Saudi Arabia [...]
Iron ore makes massive 19 per cent price jump – leads mining share prices Ferrexpo and Lonmin higher March 7, 2016 Iron ore has lead a fresh rally in commodity prices that has recorded gains over the past two weeks as traders bet that prices have finally bottomed out. The price of iron ore climbed by 19 per cent to $63.74 a dry metric ton according to industry data gatherer Metal Bulletin. The leap in the [...]
Fitch slashes global growth forecast on weaker emerging market outlook March 7, 2016 The world economy will be weighed down by further turmoil in key emerging markets this year, a major ratings agency said today. Fitch has slashed its global economic growth forecast with advanced economies expected to grow 1.7 per cent this year, down from the 2.1 per cent forecast in December. Emerging market economies are expected to [...]
EU migrant crisis: EU and Turkish leaders meet in Brussels for summit to tackle migrant crisis as Prime Minister David Cameron announces UK military will join Nato in Aegean Sea March 7, 2016 Turkish and European Union leaders have met in Brussels in an attempt to tackle the migrant crisis. Last year, more than a million entered the EU by boat, mostly travelling from Turkey to Greece, with 13,000 people currently stuck on Greece's border with Macedonia. The EU has pledged €3bn (£2.3bn) to Turkey in return for housing [...]
President Trump would mean the end of the western alliance March 7, 2016 Super Tuesday fulfilled its traditional role of determining the two nominees for the US presidency. While Hillary Clinton’s dreary coronation is all too scripted, astoundingly, Donald Trump must be considered the odds-on favourite for the Republican nomination. Yes, if senator Marco Rubio of Florida and governor John Kasich of Ohio were to win their home [...]