LONDON (Reuters) – Brent crude oil futures held above $48 a barrel on Thursday as investor inflows offset data showing that U.S. crude stocks had hit a record high.
By 0928 GMT on Thursday, U.S. crude CLc1 was trading at about $44.50 a barrel, up 5 cents and off a six-year low hit on Wednesday. Brent LCOc1 was up 26 cents at $48.73 a barrel.
LONDON (Reuters) – The songs of English folk musician Nancy Kerr may be steeped in tradition and imagery but her subject matter is taken straight from today’s headlines.
Her first solo album, “Sweet Visitor”, featured a song about the West’s exploitation of cheap Asian labour, written after the collapse of the Rana Plaza clothing factory in Bangladesh, and another one about the transformation of London’s East End, her birthplace, for the 2012 Olympics.
LONDON/OSLO, Jan 22 (Reuters) – Slammed by plunging oil
prices, oil services companies which supply rigs and carry out
seismic surveys face a bleak outlook of cutbacks and contract
cancellations. Peer through the gloom though and possible
winners as well as losers emerge.
Titans of the sector such as Schlumberger NV and
Halliburton Co may have a chance to scoop up assets and
know-how from rivals less able to weather the downturn, as their
deeper pockets give them a major tactical advantage.
LONDON, Jan 18 (Reuters) – After one of the worst years in
memory for commodity funds, even the few managers who found a
way to make money last year say they expect a difficult start to
Collapsing oil and grain prices caused havoc for commodity
funds in 2014, with the average actively managed fund in the
Lipper Global Commodity sector losing 14.35 percent. Big names
abandoned the field altogether, and investors redeemed billions.
LONDON, Jan 14 (Reuters) – Copper and other base metals were
hit by heavy selling on Wednesday and the oil price slump
continued after the World Bank lowered its global growth
forecast due to disappointing economic prospects in Europe and
Benchmark copper futures, often seen as a barometer
of industrial health, crashed over 6 percent to below $5,500 a
tonne – levels last seen in 2009.
LONDON (Reuters) – Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group’s decision not to cut output to tackle a glut in the market.
Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly U.S. shale oil, and weaker-than-expected demand in Europe and Asia.
LONDON (Reuters) – Plunging oil prices look set to trigger another wave of industry consolidation after a decade when mega-deals were scarce, but investors want to see mergers that can squeeze out cost savings and only after a lavish dividend is paid.
Over the last 18 months Big Oil has faced shareholder pressure to prioritize value over volume – to improve their return on capital rather than focus on production growth targets. As a result, oil majors have been in disposal mode.
LONDON, Nov 24 (Reuters) – Some commodity fund managers
believe oil prices could slide to $60 per barrel if OPEC does
not agree a significant output cut when it meets in Vienna this
Brent crude futures have fallen by a third since
June, touching a four-year low of $76.76 a barrel on Nov. 14.
LONDON, Nov 24 (Reuters) – Swiss-based petrochemical and
refining company Ineos is looking to expand into North Sea oil
and gas production by hiring a number of senior and mid-level
staff, its website showed on Monday.
The post of CEO of the new offshore oil and gas business has
a remit “for leading a strategic review to support the INEOS
entry into North Sea production, culminating in investment
recommendations to the main INEOS board,” the website said.
LONDON, Nov 24 (Reuters) – Oil prices could plunge to $60 a
barrel if OPEC does not agree a significant output cut when it
meets in Vienna this week, market players say.
Brent crude futures have fallen 34 percent since
June to touch a four-year low of $76.76 a barrel on Nov. 14, and
could tumble further if OPEC does not agree to cut at least 1
million barrels per day (bpd), commodity fund managers say.