Analysis: Why oil prices turned negative, and might do again April 22, 2020 On Monday night oil prices turned negative for the first time in history, as traders started paying to have barrels of oil taken off their hands due to the total collapse in demand caused by coronavirus. The unprecedented scenes were a result of a number of coalescing factors which created a situation in which buying [...]
Ofcom sanctions London Live over David Icke coronavirus conspiracy interview April 20, 2020 Ofcom has sanctioned London Live after the TV channel aired an interview with conspiracy theorist David Icke that contained “potentially harmful” views about the coronavirus outbreak. The regulator received 48 complaints about the 80-minute programme, in which Icke made a raft of unsubstantiated claims, including that official health advice was designed to further the ambitions [...]
Oil prices fall as Opec production cut deal hangs in balance April 10, 2020 Oil prices have dropped sharply overnight despite a tentative agreement between oil cartel Opec and Russia to cut production by 10m barrels per day, roughly 20 per cent of their output. Discussions will resume today, with the negotiations hinging on whether Mexico decides to join in with the cuts, which it has thus far balked [...]
Oil prices: Markets hold their breath ahead of Opec+ meeting April 9, 2020 This afternoon’s crunch meeting between oil cartel Opec and Russia could send shockwaves through global energy markets and send oil prices spiking or crashing. For weeks oil prices have been in freefall due to a production war between de facto Opec leader Saudi Arabia and Russia. The pair are stuck in a dispute over production [...]
Boris Johnson still ‘in charge of government’ from his hospital bed April 6, 2020 Boris Johnson is still in charge of government from his hospital bed and is continuing to receive his daily red box of briefing papers. The Prime Minister was admitted to St Thomas’ Hospital in Westminster last night due to “persistent symptoms” of coronavirus and “had a comfortable night”, according to an official Number 10 spokesman. [...]
Oil prices slip as investors doubt Saudi-Russia agreement April 6, 2020 Oil prices have fallen despite the head of Russia’s sovereign wealth fund saying Russia and Saudi Arabia are “very, very close” to a deal on supply cuts. Brent crude was down 2.5 per cent at $33.30 in a sign that investors are sceptical an agreement will be reached. US West Texas Intermediate was two per [...]
FTSE 100 bounces back as Trump declares end to oil price war April 2, 2020 The FTSE 100 looked set to end the day on a high as US President Donald Trump said Saudi Arabia and Russia had ended their oil price war. Energy stocks jumped to propel the London index back into the green after a tumultous day for global stocks. Staggering data showed 6.6m US jobless claims occurred [...]
Oil prices soar as Donald Trump reveals Saudi-Russia deal April 2, 2020 Oil prices soared this afternoon as US president Donald Trump said that Saudi Arabia and Russia had agreed a deal to end their price war and curb production. Brent Crude shot up nearly 22 per cent within half an hour of the president’s revelation, which was made over Twitter. The benchmark is now trading at [...]
Oil prices jump as Donald Trump hints at imminent Russia-Saudi Arabia deal April 2, 2020 Global oil prices climbed off the floor of 18-year lows this morning after US president Donald Trump said he expected Saudi Arabia and Russia to reach an agreement soon to put an end to their price war. The combination of a production war and a slump in global demand due to widespread lockdowns caused by [...]
Beware the corona crisis power grabs April 1, 2020 IN THE midst of the financial crisis of 2008, Rahm Emanuel, soon-to-be chief of staff for US President-Elect Barack Obama, famously announced that “You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things that you think you could not do before.” Emanuel was [...]