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3117 News
  • Falling oil inventories, weaker US dollar add upward pressure

    The oil price has risen above $71 per barrel for the first time since 2014, as falling US oil inventories and a weaker US dollar push the price of the valuable commodity higher. read » January 2018
  • Citi details wildcards that could push oil up to $80 per barrel

    Oil prices have risen to the highest level since 2014, helping to lift oil stocks higher Wednesday. Rising geopolitical fears coupled with the ongoing OPEC output cap, means the price of Brent crude oil is moving closer to the $70 per barrel level. read » January 2018
  • Deal values Billiabong at around $155 million

    Billabong shares closed a little higher overnight, following confirmation that Boardriders Inc – formerly Quicksilver – has entered an agreement to purchase the Australian surf wear business. The deal values Billabong at around $155 million. read » January 2018
  • Forties pipeline remains shut as repair work progresses

    The oil price is rising again Tuesday, on slower output fears and amid expectations that US oil inventories fell again, last week. read » December 2017
  • Roncador oil field deal boosts Statoil Brazil production 175%

    Norwegian resources giant Statoil, has confirmed a 25% purchase of the Roncador oil field owned by Petrobas. The deal will almost triple Statoil’s south American output and forms part of Statoil’s long-term strategic planning. read » December 2017
  • Record US oil output tempers gains a little

    The oil price is higher Friday, as the Forties pipeline closure continues to add to upward pressure on oil stocks. Oil price gains come despite news of rising US oil output. read » December 2017
  • Forties pipeline repair could take weeks

    The oil price topped $65 per barrel Tuesday, a price not achieved since 2015, on news a major North Sea pipeline would be shutdown for ‘a matter of weeks’. The news exacerbates growing output concerns on geopolitical tensions and pushed the price of Brent Crude and US WI oil higher. read » December 2017
  • Geopolitical concerns support

    The oil price turned positive in early Monday afternoon trading, reversing an earlier fall. Oil production related news was mixed, with likely rising US production countering geopolitically-output related news elsewhere. read » December 2017
  • Oil price rise comes despite higher US output

    The oil price is rising again Friday and looks likely to end the week little changed from where it began, despite earlier price falls. Renewed support has come in the form of higher Chinese oil imports data and the threat of a strike by one Nigeria’s main oil worker unions. read » December 2017
  • US oil inventories fall

    The oil price is edging higher Thursday, as investors shrug off news that US oil production rose last month. Meanwhile, news that oil stocks fell, helped push prices higher. read » December 2017
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