Archives
Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down
January 15th, 2015
Oil resumed its decline after the biggest gain since June 2012 as U.S. crude production increased, bolstering speculation a global supply glut that spurred last year’s price collapse may persist. Futures dropped as much as 1.3 percent in New York. ...
Asia shares rise after commodities rebound, dollar regains ground
January 15th, 2015
Spreadbetters see higher open for European bourses RBI surprises with rate cut, Indian stocks rally Mood over risk assets still subdued after weak U.S. data Dollar gains some respite as U.S. yields inch up after plunge Asian stocks mostly ...
Shell ditches $6.5bn Qatari petrochemicals project
January 14th, 2015
Royal Dutch Shell has scrapped plans for a $6.5bn petrochemicals project with Qatar Petroleum, citing “the current economic climate prevailing in the energy industry”, the oil major said on Wednesday. The Al Karaana petchems project, an 80:20 joint venture of ...
Oil prices extend slide in commodities sell-off
January 14th, 2015
Oil prices fell more than 1 percent on Wednesday after touching their lowest in nearly six years the previous session, extending losses alongside a sell-off in other commodities. Commodities came under pressure after the World Bank cut its forecasts for global ...
Oil Prices Fall to Fresh Lows
January 13th, 2015
Global Benchmark Brent Is 17% Lower for the Year The global oil benchmark settled below $50 a barrel for the first time in nearly six years Monday after Goldman Sachs Group Inc. slashed its forecasts, saying lower prices are ...
Russia’s credit rating likely to be downgraded to junk
January 12th, 2015
Standard & Poor’s is going to revise Russia’s sovereign credit rating with a “negative” outlook. The agency made the decision to revise Russia’s credit in late 2014. According to the agency, the flexibility of Russia’s monetary policy has been declining steadily. ...
Russian Central Bank Spent $76.1 Billion Defending Ruble in 2014
January 12th, 2015
The Russian Central Bank’s net currency interventions in 2014 amounted to $76.13 billion and 5.41 billion euros, Interfax news agency reported Monday, citing Central Bank Data. Interventions in the month of December amounted to $11.9 billion. The bank intervened heavily last year as the ruble slumped because of international ...
European markets rise on US futures lead
January 12th, 2015
World markets were traded lower on Friday. Average Hourly Earnings in December, released in the United States, indicated unexpected decrease and affected investor’s sentiment. Non-Farm Employment Change outperformed the outlook, Unemployment Rate dropped to the lowest level over 6.5 ...
Scotland Proposes UK Oil And Gas Tax Breaks
January 12th, 2015
Scotland’s Energy Minister, Fergus Ewing, has published a new report calling for urgent reform of the UK’s oil and gas tax regime. In his January 8 discussion paper, Ewing said the recent fall in the oil price has increased ...
Greece will need EU/IMF consent to cover funding needs via T-bills
January 12th, 2015
Greece‘s leftist opposition Syriza party will need EU/IMF approval to issue short-term debt to cover funding needs in the first quarter if it takes power after a January 25 election, the finance ministry said on Monday. Syriza, which is ...
