Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished, and more outages could push oil prices up even higher. Yet, there are some signs that demand is starting to take a hit as oil closes in on $80 per barrel.
London’s blue-chip index hit a record high on Thursday as rising oil prices helped lift UK stocks.
Oil rose to $80 a barrel in London for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of renewed sanctions on OPEC member Iran.
Crude settled at the highest since 2014 as shrinking U.S. oil, gasoline and diesel stockpiles signaled tightening global supplies.
Money managers who are reducing their bullish bets on oil are following a “dangerous” strategy, according to Goldman Sachs Group Inc.
The International Energy Agency cut forecasts for global oil demand growth in 2018 as the highest prices in three years put a brake on consumption.
An advisory firm is telling Shell shareholders to vote down the pay deal of the company’s chief executive, a news report said.
Oil held gains near $71 a barrel after escalating conflict in the Middle East raised geopolitical risks and as most OPEC members cut output more than required last month.
Statoil's name change to Equinor is expected to be voted through at the Norwegian energy giant's annual general meeting tomorrow.
Oil extended gains above $77 a barrel as a conflict between Israel and Iran ratcheted up, increasing prospects for tighter global supply after the U.S. renewed sanctions on OPEC’s third-largest producer.
Oil prices surged to their highest level since 2014 as US President Donald Trump’s plans to scrap the Iran deal raised the possibility of locking one of the biggest crude producers out of the market.
Oil prices sank on Tuesday as traders awaited news on whether the US would remain in the Iranian nuclear deal.
ran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member Saudi Arabia, which is showing a willingness to keep tightening crude markets.
U.S. oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of U.S. sanctions on Middle East crude producer Iran.
For generations of investors, Exxon Mobil Corp. has been a cornerstone of fund managers’ portfolios alongside the biggest names in corporate America. Not so much any more.
Flaring geopolitical tensions in the Middle East coupled with expectations for a decline in U.S. stockpiles are boosting oil to trade near $69 a barrel.
President Donald Trump started a tug of war with the oil market and lost the first round.
Global markets for equities, currencies and metals have all been hit by the uncertainty over what President Donald Trump’s next geopolitical move would be. Oil’s about to have a turn.
Shares in Ascent Resources shot up in London this morning after the European oil explorer said it was open to takeover offers.
Oil rebounded from the biggest loss in more than a week as OPEC hinting at extending output cuts fanned optimism and investors anticipated a drop in U.S. stockpiles.
TransGlobe Energy Corporation said today that it plans to list its common stock on the alternative investment market (AIM) in London.
London's blue chip index edged up on Friday as traders remained cautious amid simmering tensions between Russia and the US over Syria.
Oil headed for the biggest weekly advance in more than eight months on speculation tensions in the Middle East may lead to supply disruptions, reinforcing a buy call on commodities by Goldman Sachs Group Inc.
Futures in New York jumped as much as 3 percent on Wednesday as President Donald Trump warned Russia that U.S. missiles soon may strike Syria and Saudi Arabia intercepted a missile attack on the kingdom’s capital. A U.S. government report on expanding domestic oil inventories barely fazed traders caught up in the rush of world events.
London-listed Sound Energy has completed the sale of its Italian subsidiary to Coro Energy, previously named Saffron Energy.