Oil declines as IEA says surplus will last longer than expected
Oil dropped as the International Energy Agency changed its view on global oversupply, seeing a glut persisting into 2017.
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Oil trims weekly gain as US stockpile plunge seen as one-off
Oil trimmed its weekly gain after the biggest U.S. stockpile slump in 17 years was seen as a one-off caused by a tropical storm that disrupted imports and offshore production.
Opinion: The next sector to recover from the oil price crash
Oilfield services, shipbuilders and other industries that rose with the pre-2014 oil price boom have had it hard. Since barrel rates fell, their previous patrons have become uninterested in doling out major purchase orders, leaving oil and gas equipment manufacturers without revenues.
Average petrol and diesel prices ‘edged up over August’
The average price of petrol and diesel sold on Britain’s forecourts edged up in August, new figures show.
OPEC output rises to record before talks with Russia on freeze
OPEC’s crude production climbed to a record last month as increased output from Gulf members made up for persisting losses in Nigeria and Libya, according to a Bloomberg survey.
Demand for food parcels increases almost five-fold in Europe’s oil capital
The number of food parcels being handed out in Aberdeen has has gone up almost five-fold in the past two years, according to a charity boss.
Oil resumes drop near $47 amid market stabilization deal doubts
Oil declined amid doubts producers will agree on a deal to stabilize the market when suppliers meet next month for informal talks.
Oil holds gains as Saudis see freeze as ‘positive’ for market
Oil held gains as Saudi Arabia’s energy minister said an output freeze would be positive for the market and after a report that Iran will participate in informal talks next month.
IMES Limited goes into administration, some assets acquired by Seanamic
KPMG have been appointed as administrators for IMES Limited after the company went into administration.
Noble Group posts loss as debt swells and business shrinks
Noble Group Ltd. lost money in the second quarter and net debt increased as the embattled commodities trader withdraws from some markets in an attempt to conserve cash and reverse a two-year collapse in its shares.
Enbridge, Marathon agree to buy $2b Bakken pipe stake
A unit of Enbridge Inc. and Marathon Petroleum Corp. have agreed to pay a combined $2 billion in cash for a stake in the Bakken pipeline system from an affiliate of Energy Transfer Partners LP and Sunoco Logistics Partners LP.
Opinion: The great dilemma for oil companies – preserving capital
With the collapse in oil prices over the past eighteen months, the major exploration and production companies have been doing everything they can to cut costs. Ultimately, this means the conglomerates have less cash available to pay suppliers, who provide them with essential services and products.
Apollo, TPG turn to oil crash to salvage $31billion Caesars bet
Apollo Global Management LLC and TPG Capital Management, the private equity firms that have struggled for years to salvage a $31 billion bet on troubled gambling company Caesars Entertainment Corp., see an opportunity in the oil crash.
Oil price recovery boosts markets across Europe
The FTSE 100 Index hit a fresh five-month high as markets across Europe raced ahead thanks to a bounce back in oil prices and cheer over the eurozone economy.
FTSE 100 index boosted by oil price
The London market opened on the front foot as higher oil prices boosted commodity stocks.
FTSE 100 rallies back amid hopes of oil production cut
The London market has rallied back after commodity stocks lifted on fresh hopes that a cut to oil production could be around the corner.
Opinion: $120 oil as soon as 2018?
Today, I’m going to try and tackle the reasoning for my ‘wild’ predictions for oil reaching triple digits by the end of 2017.
Oil set for first weekly drop since February amid swelling glut
Oil headed for the first weekly decline since February as OPEC production rose and expanding US stockpiles kept inventories at the highest level in more than eight decades.
Oil prices make cautious rally above $40 amid stock exchange pressure
The London market came under pressure as gloom over the state of the nation’s finances overshadowed figures revealing the economy grew faster than first thought in 2015.
Rising oil prices help further oil gains
Markets surged higher across Europe after US Federal Reserve boss Janet Yellen soothed fears over imminent interest rate hikes.
Texas is still booming, despite the oil bust
US oil prices tumbled from more than $100 a barrel in the summer of 2014 to less than $50 a year later, but that didn't stop workers from flocking to Texas, the nation's biggest energy-producing state.
Commodity stocks weigh heavy on the market following drop in oil price
London’s top flight index struggled to make gains, as commodity stocks weighed heavy on the market following a drop in the price of oil. The FTSE 100 Index was down 1.4 points to 6188.24 following the fresh fall in the price of Brent crude, which edged down by as much as 50 cents since the start of the session before showing signs of stabilising.
Central Bank depleted by Azeri crisis as oil brings no boost
The once-in-a-generation crash in oil prices sent the Azeri economy staggering into a crisis and the central bank is running out of options to stop the unraveling.
Fuel prices increase for first time in seven months
Average petrol prices rose for the first time in seven months in February, data shows.
Economic growth forecasts revised down amid low oil price
Voters have been urged to consider the consequences that quitting Europe could have on Scotland’s economy, as a new report said growth over the long-term has been “weaker than the UK”.