Tensions in the Middle East have led to a spike in oil prices, despite the continuing economic downturn across the world.London Brent rose by $1.39 to $38.70 a barrel, while US crude has gone up by $1.22 to $37.89 a barrel.This is because of the recent attacks by Israeli forces in Gaza, as this has ... More
Police in the Isle of Man are on the lookout for thieves who stole about 200 litres of domestic heating oil.According to Manx Radio, the fuel was taken from a tank at a property located near a prison in the Ramsey area.However, officers believe that the perpetrators of the crime may have been distur... More
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The '=' character, hexadecimal value 0x3D, cannot be included in a name. Line 15, position 7. More
The oil market is likely to have a hard time establishing a price floor until demand receives a boost, it has been claimed.According to Jonathan Kornafel, Asia director of Hudson Capital Energy, prices could drop as far as the early 20s before traders can attempt to push them back up.Speaking to Reu... More
Washington has condemned Opec's attempt to end cheaper oil prices after it agreed on its deepest cut ever yesterday.Tony Fratto, a White House spokesman, said the cartel has an obligation to keep the market well supplied to ensure the health of the global economy.He added: "Efforts to limit the... More
Opec's plan to announce a further cut in production today is likely to have a negative impact on the economy, it has been claimed.Speaking to Reuters, Harry Tchilinguirian of BNP Paribas said in the current economic outlook, a push for a higher price through a significantly deep cut could actually w... More
Oil prices are expected to stabilise soon as a result of an impending production cut by Opec, it has been claimed.Speaking to the Islamic Republic News Agency, Iranian oil minister Gholamhossein Nozari said if the cartel decides to cut output by between 1.5 million and two million barrels per day at... More
Oil prices are expected to rise in anticipation of Opec announcing cuts to production when it meets this Wednesday.The meeting of the oil cartel in Algeria on the 17th is likely to see members agree that a reduced output is necessary to boost slumping prices.Speaking to Reuters, Ken Hasegawa, a comm... More
The outlook for oil supply is currently taking a back seat to "demand obsession" on the market, Alliance Trust has claimed.Angus McPhail, the organisation's global oil and natural resources analyst, said that demand is the only factor driving oil prices.But he added: "Over the long te... More
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