Brent oil hits $55 with Saudi cuts adding fuel to vaccine rally
Brent oil topped $55 a barrel for the first time since February as gains in broader markets added to investor optimism already buoyed by Saudi Arabia’s unilateral plan to cut output.
Brent crude
North Sea oil gets a jolt from Asian demand
North Sea oil prices are finally strengthening, catching up with other markets that already rallied on the back of rising buying interest from Asia, where demand in many places has already recovered from Covid-19.
Oil clings to rally on signs of coronavirus vaccine progress
Crude held onto a rally amid progress on the development of coronavirus vaccines, with investors shrugging off a smaller-than-expected U.S. inventory build.
Oil price rally loses shine as virus surge offsets vaccine optimism
Oil slipped back below $40 a barrel in New York with demand concerns keeping prices in check after crude was swept up in a broader market rally following news of a potential coronavirus vaccine breakthrough.
Oil slides below $40 with supply disruptions subsiding
Oil accelerated losses with workers in the U.S. Gulf heading back following Hurricane Delta’s landfall and Libya taking a major step toward reopening its biggest field.
Oil pares losses with stronger equities offsetting supply fears
Oil recovered some of its losses with a rally in equities providing support to prices even as industry data pointed to a surprise increase in American crude stockpiles.
Oil drops for third day before OPEC+ reviews easing output cuts
Oil fell below $42 a barrel in New York as OPEC+ gathered to assess its supply deal, with countries struggling to contain the virus that’s hurt economies and fuel demand globally.
FTSE nudges up, Brent crude nears $45
The FTSE 100 Index eked out a gain of 8.21 points, or 0.13%, to 6,269.73 today, as traders continued to show caution despite recent progress towards a vaccine for Covid-19.
FTSE 100 falters amid subdued sentiment in London
The FTSE 100 Index failed to hold on to Monday’s gains today, despite a rally for stocks on Wall Street overnight.
Oil set for second weekly gain with market starting to rebalance
Oil headed for its first back-to-back weekly gain since February as output cuts from the biggest producers and a nascent recovery in demand began to rebalance a market awash with crude.
FTSE 100 and Brent crude make gains
The FTSE 100 Index edged up a further 822.22 points, or 1.4%, to 5,935.98 today.
Brent slips back into reverse
Brent crude oil was down about 6.5% at $28.96 per barrel at the London market close despite spending much of today on the advance.
Oil rebounds to $30 but still too low for North Sea
Brent Crude’s rebound yesterday brought it up beyond $30, but the figure is still too low to make an impact for the UK North Sea.
Brent crude rockets nearly 12%
The price of a barrel of Brent crude surged above $30 on Tuesday amid growing hopes that global demand for oil is rising again.
Oil rises for a fifth day with output cuts easing glut concern
Oil was headed for the longest run of daily gains in more than nine months on signs the worst of the supply glut may be over as production cuts start to take effect.
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.
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.
BP sinks to £3.6bn pre-tax loss as Covid-19 and oil price plummet take effect
Energy giant BP fell to a £3.6billion pre-tax loss in the first quarter of 2020 as the coronavirus and oil price slump made its impact on the business.
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.
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.
Life extension for Bruce, but end may ‘hasten’ for other North Sea fields
Cutting costs has added years to the life of Serica Energy’s Bruce platform, but other operators may need to "hasten" the end of some North Sea assets according to CEO Mitch Flegg.
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.
UK North Sea platforms ‘face production shut-ins’ as oil storage fills up
Offshore platforms in the UK North Sea “face the risk of production shut-ins” due to oil storage constraints, according to leading analysts.