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.
oil prices
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.
The next chapter of the oil crisis: Industry shuts down
Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great swathes of the petroleum industry are about to start shutting down.
EV Out Load: Pricing, politics and the hot potato
Where were you when oil prices went negative, Grandpa?
Next generation’s enthusiasm is best hope for achieving energy transition
Oil prices have plunged to record lows this past week. While one particular benchmark, West Texas Intermediate, went below minus $40 per barrel a week ago, that is headline grabbing but not the primary concern.
Worley in consultation with Aberdeen staff over job cuts
Worley is the latest energy firm to announce a number of job losses at its Aberdeen base as a result of the coronavirus pandemic.
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.
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.
TechnipFMC records loss of £2.59bn in first quarter
Hefty impairments plunged TechnipFMC into the red in the first quarter of 2020 as the energy services firm felt the impact of the oil price slump and Covid-19 outbreak.
Updated: Baker Hughes posts £13bn loss as price rout, Covid-19 bite hard
Energy services firm Baker Hughes sank deep into the red during the first quarter as the oil price rout and Covid-19 pandemic took their toll.
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”.
Norway decision on production cuts looms
Norway has said it will soon decide whether to cut its oil production to help support plummeting prices.
North Sea can weather oil market storm, tax expert says
The UK North Sea offshore industry can weather a raging storm in global oil markets, a leading expert said yesterday.
‘Cataclysmic’ event needed for Brent Crude oil to go negative like US benchmark
A leading petroleum economist has said it would “require something cataclysmic” for the international oil benchmark to follow that of the US into negative pricing.
US crude price slump a ‘body blow’ for oil industry, OGUK chief says
The descent of US crude prices into negative territory is a “body blow” to a creaking oil and gas sector, an industry leader has said.
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.
US oil prices plunge to 21-year low, Brent more resilient
Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.
How we respond in a crisis defines us
None of us have been in a situation remotely like this before. The rules and the facts are changing daily and it can be overwhelming to try to keep up with developments.
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.
Shell pauses UK North Sea projects in response to low oil prices and Covid-19
Shell has hit pause on a number of UK North Sea projects due to the recent crude price drop and Covid-19 outbreak, it is understood.
Oil futures rebound masks strain on plunging physical market
Oil futures advanced amid a broader bounce across financial markets while the price of actual crude plummeted to near $15 a barrel.
UK supermarkets cut fuel prices as oil continues to plunge
Supermarkets Asda and Morrisons have reduced their fuel prices by 12p per litre for petrol and 8p per litre for diesel.
Oil gets boost from trade deals, but demand concerns persist
Oil held its biggest gain in almost two weeks on optimism a more conciliatory approach on trade from the U.S. will help revive growth, but was still headed for a weekly drop amid persistent demand concerns.
Oil holds biggest weekly drop since July on easing Gulf tension
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
Russia aims to keep Opec+ pledge, but has new excuse to break it
Russia offered yet another explanation for why its oil production may exceed its OPEC+ target for November, months after promising to improve the country’s lax implementation of output cuts.