McDonald’s out of fries in Venezuela as tight currency controls worsen food shortages January 7, 2015 Things have got so bad in Venezuela that the Golden Arches have to serve up fried yuca instead of French fries. McDonald's 100 franchises in the oil-dependent state have totally run out of potatoes, forcing them to substitute with regional staples like yuca and maize arepas. Latin America's biggest McDonald's franchise holder Arcos Dorados is [...]
Energy bills set to shrink as oil price plummets January 6, 2015 OIL PRICES continued to fall yesterday, after driving markets down on Monday. Brent crude stayed below $53, the lowest it has been since 2009 and fell to as low as $50.85 during the day. Meanwhile US benchmark WTI remained below what ETX Capital strategist Daniel Sugarman termed the “psychological barrier” of $50 a barrel. Consumers [...]
Oil prices are falling again as Brent crude edges closer to $50 a barrel January 6, 2015 Brent crude is flirting with the $51 a barrel mark, falling again on Tuesday after yesterday’s carnage. Considered an international benchmark, it fell $1.42 to $51.64 in early trading, despite data showing 17 US oil rigs stopped operating in the week leading to 2 January. The fall takes the number of rigs to 1,482 which, [...]
Oil prices sink below $50 a barrel as petrol costs tumble January 5, 2015 Boost for motorists and airlines as petrol costs tumble… yet the speed of black gold’s collapse spooks global markets. The price of oil slid further yesterday, providing a boon to motorists and fuel-dependent industries, yet contributing to market turbulence throughout the world. American crude crashed below $50 a barrel during trading, while benchmark Brent tumbled under [...]
Fears over Greek election and oil prices hit FTSE – London Report January 5, 2015 AFALL in major energy stocks and worries over the political outlook in Greece knocked down Britain’s top equity index yesterday. The blue-chip FTSE 100 closed down two per cent at 6,417.16 points. The index also retreated 0.3 per cent on Friday, after falling 2.7 per cent in 2014. Weaker energy stocks, including BP and Royal [...]
Petrol price of £1 a litre comes one step closer as big four supermarkets cut prices January 5, 2015 The good news for drivers just keeps on rolling. Britain's so-called "big four" supermarkets have announced a 2p cut to the price of petrol, with Tesco's reduction coming into effect immediately. The rest, which include Asda, Morrisons and Sainsbury's, will cut their prices tomorrow. The reductions bring the prospect of £1 per litre petrol tantalisingly [...]
Petrol to fall below £1 a litre? Brent crude oil price falls to its lowest in more than five years January 2, 2015 Brent crude oil dipped as low as $55.48 a barrel this morning, its lowest in five and a half years. The price fall came off the back of weak manufacturing data from China and Europe, as well as a stronger dollar. The drop comes after oil prices lost 49 per cent during 2014, its second-biggest [...]
Where to buy the cheapest petrol: Asda, Sainsbury’s and Tesco cut prices December 31, 2014 Three of the UK's largest supermarkets have cut the price of petrol and diesel, drawing the battle lines for a New Year war at the pumps. Sainsbury's, Tesco and Asda all cut their prices by 2p per litre. It's the 13th time Asda has lowered its price since September. Traditionally the lowest-priced petrol retailers, supermarkets' [...]
Oil price will rise in 2015 and there will be no UK shale gas revolution, says Cebr Energy December 31, 2014 This year has been a roller coaster for the world of energy. The American shale gas revolution led to falling prices and reshoring of industry while the price oil has plunged below $60 per barrel. The fall in the price of oil has been cheered by industry and consumers while countries such as Russia and [...]
ECB official Peter Praet hints at quantitative easing amid falling oil prices December 31, 2014 The European Central Bank's (ECB) chief economist has hinted quantitative easing could be on the way, as plunging oil prices threaten to derail price expectations in the embattled eurozone. Peter Praet told German Newspaper Boersen-Zeitung the glut in global oil supply meant inflation rates were likely to remain negative throughout "a substantial part of 2015", something [...]