Oil prices opened the final trading session of 2015 in a downbeat mood after record US crude inventories reinforced concerns over a global supply glut that has pulled down prices by a third over the past year.Crude inventories in the US, the world’s largest petroleum producer, rose 2.6 million…
Crude futures fell around half a dollar early on Wednesday as the market remained under pressure from slowing demand and high supplies, while forecasts that a cold snap in Europe and the US would be short-lived also hurt prices.Crude prices have plunged by two-thirds since mid-2014 as soaring output…
Oil fell more than 3% on Monday, with global benchmark Brent back near 11-year lows as last week’s short-covering dried up and players worried that crude prices had more room to swoon in the new year.US gasoline futures slid more than 2% as the selloff extended to refined oil…
Oil rose more than 3% on Wednesday in thin, pre-holiday trading, buoyed by a surprise drop in US crude inventories, but prices stayed near multi-year lows as global supplies remained abundant and Opec lowered the demand outlook for its exports.Ahead of the Christmas holiday on Friday, volume in the…
The year 2015 has been an annus horribilis for all stakeholders in the UK Continental Shelf (UKCS).
The reinforcement of low oil prices has ensured that the industry will end up with a substantial negative cash flow for the year. The intensity and spread of the effects are more reminiscent…
