This French energy giant thinks oil could be at $10 a barrel by 2025 December 21, 2016 Oil prices could fall to as low as $10 per barrel within a decade as a 'tsunami' of threats could undo demand. That prediction comes from Engie SA’s innovation chief, Thierry Lepercq, who says that oil demand will be hit on multiple fronts. He lays out five 'tsunamis': solar power, battery storage, electric vehicles, “smart” [...]
This is what analysts expect to happen to the oil price in 2017 (spoiler: things are going to get better) December 21, 2016 It's been a turbulent year for oil markets. After bottoming out at below $27 a barrel in January, global benchmark Brent crude looks set to end the year at more than double that price, averaging at the $55 a barrel mark. Analysts believe Brent crude will have an even rosier start to 2017, when prices [...]
The Dow closed just shy of the 20,000 mark today, while the dollar reached a 14-year peak December 20, 2016 The US dollar hit a 14-year peak today, while the Dow Jones Industrial Average and Nasdaq closed at record highs as global markets continued to monitor fallout from yesterday's attacks in Turkey and Germany. The Dow neared the 20,000 threshold today, but it stopped just short at a record closing high of 19,974.01, up 0.46 per cent. The strong dollar [...]
Spot gold prices shed recent gains as investors steer clear of safe havens despite deadly attacks in Germany and Turkey December 20, 2016 Spot gold prices slid lower today, shedding gains made in the previous two sessions. The price of the yellow stuff fell 0.9 per cent to $1,127.94 an ounce in afternoon trading London time, according to data from Bloomberg, after optimistic remarks on the US labour market by Federal Reserve chair Janet Yellen strengthened the possibility of further interest rate [...]
Anti-fracking campaigners from North Yorkshire lose High Court challenge against fracking application December 20, 2016 The High Court has ruled that fracking can go ahead in Yorkshire after environmental campaigners lost their legal challenge today. North Yorkshire County Council granted a shale gas fracking permit to developer Third Energy in May this year, the first application to gain approval since a ban on fracking was lifted in 2012. Third Energy [...]
Should investors bulk up on bulk commodities ready for a bumper 2017? December 20, 2016 Resources firms were among the biggest victims when animal spirits were at their worst. Could they be among the biggest gainers now that fund managers have a spring in their step? Too much overcapacity, sluggish growth, debt piles, reduced dividends… Yes we’ve heard it all before. But 2016 has been another transition year for the [...]
Fiver producer Innovia Group sold in meaty £680m deal with Canadian giant December 20, 2016 Here's another big deal worth, ahem, noting: Innovia Group, supplier of the Bank of England’s new plastic five pound note that has come under fire for containing animal fat, has been snapped up by a Canadian label and packaging maker in a CA$1.13bn (£680m) move. The UK-based company makes specialty bi-axially oriented polypropylene films used for [...]
What next for the FTSE 100? December 19, 2016 | City Talk The FTSE 100 largely brushed aside concerns over Brexit and the US election in 2016 to hit its highest ever level of 7,129.83. However, the index has struggled to maintain its momentum and push on from that record high reached in October. Here we take a look at why the index remains near record highs [...]
Video analytics firm Big Sofa announces Aim flotation after raising over £6m December 19, 2016 Video analytics firm Big Sofa begins trading today on London’s junior market, with an eye on US expansion. Big Sofa has raised around £6.1m by way of a placing of, and subscription for, new ordinary shares at 17 pence per share, valuing the business at £10m. It hopes the fundraising will boost expansion in the [...]
Oil prices: Brent crude and West Texas Intermediate crude lift on Libya production halt and expectation of tighter market December 19, 2016 Production halts at two of Libya's major oil fields and anticipation of tighter crude supply next year lifted oil prices this morning. Libya's National Oil Company yesterday stopped the relaunch of production at its two biggest oil fields after a militia threatened to block the crude from reaching the market. The fields, known as El Feel and [...]