Oil slips from 3-year high as market seen vulnerable to pullback
Oil slipped from a three-year high amid speculation that a surge in hedge-fund buying had pushed prices up too quickly.
Markets
Still ‘too early to celebrate’ $70 oil, experts say
A Brent crude price pushing $70 will provide a “feel-good” factor for North Sea oil, but it may still be “too early to celebrate”, industry experts have said.
Updated: Oil steadies after hitting $70 amid tighter global supplies
Oil steadied in London after briefly climbing above $70 a barrel for the first time in three years as a global surplus recedes.
Winds of change blow for oilfield service sector
Oil-field service (OFS) companies are increasingly looking for work in offshore wind as activity in core markets remains suppressed, an analyst has said.
UAE says Opec committed to supply cuts through 2018
OPEC will stick with production cuts for the rest of the year as the group makes headway toward its goal of clearing an oversupply of crude, United Arab Emirates Energy Minister Suhail Al Mazrouei said Thursday.
Aramco seeks $2bn from Japan’s export agency
Saudi Arabian Oil Co. is seeking a $2 billion loan from Japan’s export-credit agency, three people with knowledge of the matter said, as competition for a role in potentially the world’s largest initial share offering heats up.
Oil toys With $62 amid Iranian friction, U.S. drilling pullback
Oil clung to gains as political tensions in Iran and declining exploration work in the U.S. imperiled production growth.
Aramco converts to joint stock company ahead of IPO
Saudi Aramco has been converted to a joint stock company to pave the way for an initial public offering later this year.
Oil holds gains near 3-year high as US stockpiles extend drop
Oil held gains near the highest close in more than three years as U.S. crude stockpiles shrank for a seventh week, the longest run of declines since August, offsetting a rebound in production.
Oil price continues to climb amid Iran protests
Oil prices have hit fresh two-and-a-half-year highs as the biggest anti-government protests in Iran for nearly a decade have sent the cost of crude soaring.
Echo shares jump after enlarged share capital admitted
Echo Energy shot up by more than 10% in London this morning after its enlarged share capital was admitted to trading.
Oil extends gains from 3-year high as US stocks fall
Oil extended gains from the highest close in three years as U.S. industry data showed crude stockpiles continued to decline and as OPEC production held steady last month.
Technology and energy help stocks sustain strong start to 2018
Big gains for technology and health care companies helped US stocks set records again on Wednesday.
Sluggish energy giants pull Footsie back down
The UK’s top share index eased back from a record high yesterday after a sluggish performance from blue-chip energy stocks.
Oil trades near two-year high as US stocks drop
Oil traded near the highest close in more than two years before U.S. government data forecast to show stockpiles extended declines for a seventh week and as unrest continued in OPEC’s third-biggest producer.
Oil rises toward $61 after yearly gains as US drillers pause
After capping its second annual gain, oil started 2018 by advancing toward $61 as U.S. drilling activity remained at a standstill following a slip in production and as protests continued in Iran.
Politics trumps oil recovery: A guide to Mideast markets in 2018
For as long as Gulf economies rely on oil, crude will be a factor in determining how investors trade regional markets. But right now, politics is king.
Mining stocks cause second year all-time market high
London’s top-flight index finished on an all-time high for the second year in a row as surging mining stocks ensured a strong performance from the market.
Oil price rockets to highest-water mark since 2015
Oil prices were trading at three-and-a-half year highs on Thursday as investors cheered signs of stronger crude demand from China.
Oil set for first weekly gain since November as stockpiles drop
Oil headed for the first weekly advance in a month as U.S. crude stockpiles fell to the lowest level in more than two years and the pace of production gains slowed.
English firm launches new offshore division after Aberdeen acquisition
Global Marine Group (GMG), of Essex, has launched a new offshore division in Aberdeen in a further sign of growing confidence in the oil and gas industry.
EnerMech’s new business, MInteg, poised for international growth
Engineering services group EnerMech, of Aberdeen, said yesterday new subsidiary MInteg was poised to double the size of its workforce next year.
BoE plans to allow European banks ‘to operate in UK as normal after Brexit’
European banks will be allowed to operate as normal in the UK after Brexit under plans due to be announced by the Bank of England (BoE), it has been reported.
FTSE 100 follows global stocks higher amid enthusiasm over US tax reform
The prospect of US tax reforms has buoyed global stock markets but knocked the dollar, sending UK shares and sterling higher.
No respite seen for FTSE 100 lagging global peers most since ’03
U.K. mega-cap stocks are having a tough year, and their laggard days may not be over.