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.
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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.
Oil hovers close to $52 as OPEC touts record compliance, rig count drops
Oil traded near $52 a barrel as OPEC reported record compliance with pledged production cuts and U.S. drilling slowed again.
Oil drops below $50 amid Asia demand concern
Oil has dropped below $50 amide signs US shale drilled have been adapting to lower prices.
Crude heading for sub-$40 as oil keeps pumping
Oil headed for a second weekly decline in New York, trading near its lowest level in two months, as US crude stockpiles rose three times more than forecast and the IEA said inventories in developed nations have reached a record.
Oil drops amid broader sell off as Fed points to global risks
Oil dropped for a second day after the US Federal Reserve left borrowing costs unchanged because of concern about recent global economic turmoil.
China oil market reform paves way for new crude benchmark
China may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the US WTI benchmarks as it pushes ahead with reforms to open up its oil markets.
Why oil producing countries keep on pumping
The big oil producing countries keep on pumping, even though prices are at a six-year low.
Oil trades near $50 as rising US crude supply adds to glut
Oil’s rebound from a six-year low has faltered on signs the global surplus will be prolonged as Iran bids to restore output after its nuclear accord.