Oil prices tumbled more than five percent Tuesday after a report said Israeli Prime Minister Benjamin Netanyahu told US President Joe Biden he would not strike Iran’s crude or nuclear facilities. Oil prices were also pushed down by worries about demand in China after Beijing failed to announce any new stimulus for its stuttering economy … Read more
Oil prices rose further Friday as tensions mount in the Middle East, while Hong Kong’s stock markets resumed a rally caused by China’s recently-announced measures to stimulate its economy. Europe’s main equity indices diverged nearing the half-way stage, with London weighed down by a rebounding pound alongside gains for Paris and Frankfurt. The dollar was … Read more
The volatility of international oil markets hit home again earlier this week, as crude prices tumbled to their lowest levels in more than a year. Just a couple of weeks ago, West Texas Intermediate (WTI) prices — North America’s benchmark for crude oil — were around $75 US a barrel. This week, prices skidded to … Read more
Legendary investor Warren Buffett’s time-tested value investing strategies set him apart in the investing world. His approach of buying great businesses at low prices for the long term continues to help Berkshire Hathaway stocks navigate market volatility, up 12.86% year-to-date (YTD) and over 91% in the past five years during the pandemic and global conflicts. … Read more
European stock markets faltered Thursday following mixed showings by Asia and on Wall Street, as traders reacted to US Federal Reserve signals that it plans only one interest-rate cut this year. Paris and Frankfurt were the biggest fallers, shedding more than one percent nearing the half-way stage, with investors continuing to track fallout from shock … Read more
By MICHELLE CHAPMAN (AP Business Writer) ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits. The deal is valued at $22.5 billion when including $5.4 billion in debt. Crude prices have jumped more than 12% this year and the … Read more
As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
Oil prices have experienced a slight decrease for the third day in a row, after reaching a six-month record. Investors have seemingly shrugged off fears of a wider Middle East war disrupting supplies. Brent crude, the international benchmark, fell by 3.03% to $87.29 per barrel for June. Meanwhile, West Texas Intermediate, the U.S. marker, dropped … Read more
India is prepared to take adequate steps to mitigate any impact of the Iran-Israel conflict on its economy and will “remain alert”, Finance Minister Nirmala Sitharaman said on Thursday. “Can’t say that we are fully ready. As developments unfold, we are preparing to take adequate steps in India’s interests,” Sitharaman told the CNBC Awaaz news … Read more
Persistent and severe drought conditions across Western Canada could have a devastating effect on the oil and natural gas sector, which has drilling operations in some of the driest areas, according to a new report by Deloitte. Limited water supply could have significant effects on the production of oil and gas, the report warns, and … Read more
