Doubts remain over the strength of global recovery Oil prices are down on Thursday for the first session this week as concerns over demand. The price of Brent crude oil is down by 0.78% $71.37 per barrel just after 9am, having jumped up by 1.7% on Wednesday. Oil prices rose buy 10% last week through […]

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The price of Brent crude oil is up by 0.7% to $69.26 per barrel Oil prices are up on Tuesday as investors’ hopes of a recovery in demand for fuel were boosted following the US’s drug regulator approving the Pfizer Covid-19 vaccine. The price of Brent crude oil is up by 0.7% to $69.26 per […]

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Oil prices fall by over 1% on Monday morning Oil prices were down by over 1% during the morning session on Monday as negative economic data emerged from China highlighting the impact of the coronavirus pandemic on the economy. Brent crude was down 1.21% at $69.40 a barrel by 0857 GMT, while West Texas Intermediate […]

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Brent crude oil is down by 2.26% to $71.64 per barrel OPEC and its allies have reached an agreement to increase oil supply in an effort to keep soaring crude oil prices under control. The group will now pump an additional 400,000 barrels per day each month during August, increasing output by 2m barrels per […]

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Oil prices rise to a three-year high after countries fail to reach an agreement Opec+ have postponed a decision on whether or not to ramp up oil production as major players within the cartel have failed to reach an agreement on supply levels. The Financial Times reported that it is unclear when talks will start […]

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Oil prices hovering around their highest price since October 2018 Attention will turn to the OPEC+ ministerial meeting on Thursday, as officials will discuss crude output levels and supply for the coming months. Giles Coghlan, Chief Currency Analyst, HYCM said: “Naturally, buyers will be trying gauge what’s in store next, after the bullish run we […]

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Ebrahim Raisi elected as leader of Iran The price of Brent crude oil is creeping higher again on Tuesday, as demand keeps picking up, while talks between the US and Iran over the lifting of sanctions appear to be stalling. Early this morning Brent crude oil went past the $74 mark, before retreating somewhat heading […]

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Analysts at Goldman Sachs believe that Brent crude oil could reach $80 The price of Crude oil has made further gains into this week, reaching its highest point in 32 months. With Brent crude oil at $71.47 per barrel in the early afternoon on Monday, the energy market is being supported by speedy roll-outs of […]

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For the first time since May 2019, Brent crude oil reached $71.99 per barrel The price of oil has touched a new two-year high, as demand is rising while economies emerge from lockdown restrictions and producers keep supply restricted. For the first time since May 2019, Brent crude oil reached $71.99 per barrel, having steadied […]

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OPEC+ representatives agreed to move ahead with plans to release more oil to the market next month Brent crude oil surged past $70 per barrel for the first time since March on Tuesday. The news comes as OPEC+ stayed true to their plan of releasing more barrels of oil into an improving market. The benchmark […]

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The price of oil may continue to exert upward pressure on inflation The rate of inflation in the UK has more than doubled in April, amid higher energy prices and an increase in the cost of clothing. The rise to 1.5% in April from 0.7% in March, confirms that prices are at their highest level […]

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Brent crude futures fell to $64.78 The price of oil fell on Monday as Covid-19 cases surged India, one of the world’s biggest oil importers. Ahead of a planned increase in OPEC+ oil output in May, investors have now adjusted their positions. Brent crude futures fell to $64.78, down 2.01%, by 0900 GMT on Friday, […]

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India’s coronavirus death toll now stands at nearly 180,000 Oil prices slipped on Monday as rising cases of Covid-19 emerged across the world, leading to measures to tackle the pandemic being reinstated. The strong measures to curb the spread will have knock on effects on economic activity, including demand for oil. Having risen by 6% […]

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BP Share Price BP’s share price surged throughout February and into March despite a slight retreat in the last few days. BP shares are now at 313.75p per share, up by 21% over the past 30 days from 259.1p. The oil and gas sector has generally experienced an upturn, helped in part due to a […]

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Opec and allies to restrict oil supply during April Oil prices have climbed to a 14-month high as Brent crude oil reached $67.85 per barrel today, its highest level since January 2020. West Texas Intermediate is up to $64.8 per barrel on Friday morning. The news came as Opec and its allies made the decision […]

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Oil at highest point since 2019 Oil has continued its recent resurgence despite a recent weak performance of the Chinese manufacturing sector. West Texas Intermediate (WTI) began February at $53.55 per barrel and finished the month $61.50, up early 15%. Brent crude oil started February at $56.35 per barrel and was valued $66.13 heading into […]

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Cold spell in Texas causes pressure on supply and demand Oil prices soared to their highest point since January 2020 as vaccine roll-outs provide hope, in addition to a cold spell in energy-rich Texas intensifying demand.  Brent crude oil was up as high $63.76 before coming back down to $63.25 at midday. An increase of […]

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Oil price increase a sign the recovery is in sight Having reached an all-time low in April 2020 due to worldwide lockdowns, oil has climbed back to its pre-pandemic level. Brent crude oil was valued this morning at $60 per barrel for the first time since January 2020.  The news is a continuation of the […]

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The price of oil has climbed on Tuesday morning against a weaker dollar, following yesterday’s announcement that Goldman Sachs expects Brent prices to reach $65 per barrel by this summer. A combination of Saudi Arabia’s decision to cut output and anticipation of a Democrat-driven stimulus check in the US has also boosted the commodity – […]

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The price of crude oil plummeted on Monday as concerns mount over the rapid spread of a new strain of Covid-19, causing a mass travel ban between the UK and more than 30 other countries around the world as leaders fight to keep the variant from spreading. Known as VUI-202012/01, the new strain was first […]

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Ministers from the world’s largest fossil-fuel producing nations are set to meet virtually on Monday to discuss what the future holds for the global oil market in 2021. After a turbulent year which saw prices crash to their lowest level in more than 20 years in so-called “Black April”, news of more lax lockdowns and […]

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BP (LON: BP) has reported an underlying profit of $86m (£66m) for the third quarter of 2020. Stronger oil prices led to a profit, beating analysts’ expectations of a $120m (£92m) loss for the three months ending 30 September. BP reported a record $6.7bn (£5.1bn) loss in the second quarter of the year. “BP’s future […]

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Oil prices have extended their gains across the Tuesday session, following a busy week for commodities and global markets. There have been expectations that central banks could inject a fiscal stimulus to offset the recent impact of the coronavirus, which led to the FTSE 100 dropping to a twelve month low last week. Global ministers […]

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Oil prices have jumped across Thursday trading, which has extended gains from the previous session. The price of oil derivatives has been volatile, following both demand and supply issues which have weighed down on global commodities. The coronavirus has been the main demand side factor which has pulled oil prices down – the outbreak reported […]

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Oil prices have been relatively stable on Monday, as the fears of the coronavirus are starting to be cleared up. The coronavirus has no doubt been affecting the price of global commodities and currencies over the last few weeks, as businesses and investors have remained cautious. Last week it was announced that there were people […]

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Oil prices have remained volatile across the last few months, as both political and economic factors have been influencing oil indices. Prices have spiked this morning following hopes of a coronavirus cure which has left the globe in a state of shock. On Wednesday, Oil prices jumped over 3% as news broke through on a […]

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Oil prices have slipped on Monday as global and political affairs have taken their toll on commodity prices as updates came from the UK, OPEC and more on the coronavirus. As Boris Johnson now looks to get his Brexit deal implemented in time for the next deadline, the British Pound has seen a slump however […]

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Global Oil prices have recovered on Thursday following a hectic few weeks involving Brexit negotiations, Chinese-US relations and tensions in Iraq. Many analysts were initially skeptical as to whether the United States and China could hash out a trade deal following months of tariffs leading to business slumps and supply issues. However, despite the odds […]

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Oil prices dipped yet again on Tuesday, but this time the fall was more like a plummet, as the 7.6% decrease saw Bent crude’s gains for 2018 wiped out and West Texas Intermediate logging its lowest price since October 2017, at just over $52 p/b. In Asia, Wednesday morning saw some recovery for oil benchmarks, […]

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