News Archive for: January 2016

Crude extended its slide from an 11-year low, confirming the view of hedge funds that cut bullish price bets to the lowest since 2010.

Futures fell as much as 2.5 percent in New York after dropping more than 10 percent last week. Speculators’ net-long position in West Texas Intermediate fell…

Oil major Shell’s bid for BG Group has been approve by the ISS (Institutional Shareholder Services).

The positive move comes after the company had sought to alleviate shareholder concerns over whether its takeover was still viable at sub $50 oil.

ISS, a proxy advisory body, has backed the deal which it…

Oil fell to its lowest level in more than 11 years on Wednesday, down around 2%, as the row between Saudi Arabia and Iran was seen extinguishing any chance of major producers co-operating to cut production in the face of mounting global over supply, Reuters reported.The furore over Saudi…

At almost any other time, an escalating diplomatic conflict between OPEC members Iran and Saudi Arabia would mean a spike in oil prices.That the rally this time couldn’t be sustained shows just how abnormal things are in the oil market. Brent crude erased an initial gain of more than…

Oil gained for a second day as Saudi Arabia cut ties with Iran a day after its embassy in Tehran was attacked to protest the Saudis’ execution of a prominent Shiite cleric.

Futures rose as much as 3.5 percent in New York, extending Thursday’s 1.2 percent advance. Iran’s Supreme Leader…