Oil prices start the week positively
The FTSE 100 started the week slightly in negative territory but oil prices were up amid hopes new production cuts can reduce a massive global oversupply.
Markets
Brent up nearly 8% ahead of global oil production cuts
Brent crude oil was up by nearly 8% to $26.16 per barrel by the London market close today.
Brent crude and FTSE 100 both on the up
Brent crude oil was up by 7.3% at $24.4 per barrel, as of 6pm.
Oil majors help drive up the FTSE 100
Share price growth for oil majors BP and Shell boosted the FTSE 100 yesterday, with London’s blue-chip index rising 111.1 points, or more than 1.9%, to 5,958.5.
FTSE 100 on the rise but Brent crude starts week in reverse
European markets started the week in positive territory, with all the leading financial indices enjoying gains yesterday.
Oil decline resumes as producers look to balance glut in market
Oil dropped back below $15 a barrel in the US as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output.
Brent ends historic week for oil on the up
Brent crude had edged up just over 1% to $21.55 a barrel by the London market close today, making it three days of gains on the trot in a historic week for oil prices.
Oil steadies following dramatic week
After a dramatic week that saw prices plunge below zero for the first time in history, oil continued to claw back losses as attention turned to output cuts in response to the demand hit from coronavirus lockdowns.
Good day for Brent oil and the FTSE 100
The price of Brent crude has continued to recover today after the oil price rout of earlier this week.
Brent oil and FTSE 100 both enjoy market bounce
Brent oil enjoyed a better day on the markets on Wednesday despite warnings a barrel of the crude may become “cheaper than a latte”.
US oil plunges below zero for first time in unprecedented wipeout
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.
US oil benchmark plunges towards $4 per barrel
The world’s two leading oil price benchmarks suffered contrasting fortunes today amid ongoing supply and demand fears.
Oil holds close to 18-year low despite new output cuts
Oil was anchored near $20 a barrel after closing at an 18-year low as concerns over virus-led demand destruction outweigh an agreement by the world’s biggest producers to curb supply.
Oil makes up some ground following 10% drop as demand concerns persist
Oil eked out a small gain after tumbling 10% on Tuesday as concerns over virus-driven demand destruction overshadowed a historic deal by the world’s biggest producers slash output.
Oil edges higher as market weighs output cuts against demand
Oil resumed gains to near $23 a barrel as investors weigh whether a deal by the world’s biggest producers to reduce output will be enough to offset the demand destruction caused by the coronavirus.
Oil jumps to $33 a barrel following landmark OPEC deal
Oil pushed higher after swinging wildly in early trading as investors weighed whether an historic deal by the world’s biggest producers to cut output would be enough to steady a market pummeled by the coronavirus.
Markets on oil price tenterhooks
Brude crude oil prices were up nearly 2% at $33.49 a barrel by the London market close today as traders awaited news of a much-anticipated global production cut.
Oil finds firmer ground after Federal Reserve unleashes support measures
Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output.
Equinor, Total announce measures to combat price crash
Norwegian energy giant Equinor has suspended its share buyback programme due to the downturn in market conditions.
Big Oil’s big crisis: Saving sacred dividends from collapse
To understand the crisis engulfing the world’s largest oil companies, just look at their dividend yields.
Oil takes worst weekly tumble Since 2008
Oil headed for its biggest weekly drop since 2008 as an unprecedented dual supply-demand shock showed no signs of abating.
Oil continues slide after Trump limits travel from Europe to US
Oil resumed declines after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days to try and contain the coronavirus, pummeling fuel demand even further.
Oil shares massacred in London as crude price war erupts, dragging down Brent
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Fall in oil price as Asian stocks tumble
Asian stock markets have fallen sharply reflecting a downturn in global oil prices.
Hunting shares surge on buyback call
Energy service firm Hunting said today that it was launching a share buyback programme for the first time in its history.