Hints and tips:
...West Texas Intermediate, the US benchmark, which gained 8 per cent last week, rose above $81 a barrel this morning while Brent crude jumped to $87 a barrel....
...Goldman Sachs says that it expects Brent crude prices to average $135 a barrel through the rest of the year, higher than the current price of about $122 a barrel....
...Brent crude continued its recent rise, trading 1.6 per cent higher at $123.49 a barrel after the EU agreed a partial ban on Russian oil imports....
...Brent crude futures, the international benchmark, slid 79 cents to $103.92 a barrel, after dropping 5.6 per cent on Thursday....
...Brent, the international standard, hit $60 on Monday. The rally has been exceptionally wide-ranging....
...After reaching lows of $16 in April, Brent crude ends 2020 around $51 a barrel. Prices are down over a fifth from the end of 2019....
...Oil prices also fell 4 per cent to $40 a barrel for benchmark Brent, as traders grew anxious over the outlook for energy demand....
...In non-retail news, Nelson Peltz’s activist hedge fund Trian has disclosed a 5.98 per cent stake in Ferguson, the US-focused FTSE 100 group formerly known as Wolseley....
...Frank has a longstanding relationship with Allergan chief executive Brent Saunders, sources told DD....
...Energy stocks led the wider market higher, with BP and Tullow Oil in demand as Brent crude topped $78 a barrel....
...This week’s jump in oil prices — Brent crude hit a two-year high of $59 per barrel — will only reinforce the sense of animal spirits returning, writes the FT’s Andrew Ward....
...Procter & Gamble is up 0.8 per cent ahead of an eagerly awaited shareholder vote on whether to put activist investor Nelson Peltz on the board despite the company’s objection....
...Royal Dutch Shell has come under fire for plans to leave 64 storage tanks as tall as Nelson’s Column on the seabed when it abandons its Brent oilfield in the North Sea....
...Brent crude, the international benchmark, and its US counterpart WTI moved into bull market territory on Thursday, having risen more than 20 per cent from their recent low on talk of a possible production...
...Environmental groups have also raised concerns over multiple “cells”, each the size of Nelson’s column, which surround the base of the main subsea structures and contain sediment, water and oil....
...Brent Hoberman, co-founder of Lastminute.com and a leading investor, said that the tech community was “shell-shocked” following the result....
...The unions said it was likely to “severely disrupt” operations on seven Shell platforms — Shearwater, Gannet, Nelson, Curlew, Brent Alpha, Brent Bravo and Brent Charlie....
...Wilmington, Delaware-based DuPont has been under pressure from Nelson Peltz, the leader of activist hedge fund Trian Fund Management, to turn round its performance....
...General Electric ’s third-quarter earnings will be the first since it emerged that Nelson Peltz’s Trian Fund Management had taken a stake of nearly 1 per cent....
...By Friday Brent had already fallen back to nearer $65 a barrel as traders said the recovery had come too soon....
...Nelson Hernández, a Caracas-based energy consultant, said, if successful, it would be a temporary measure to bolster PDVSA’s position in the oil market....
...The group was menaced a few years back by activist investor Nelson Peltz. It was subjected to feebler pressure more recently by Marcato, a little-known hedge fund, to sell itself....
...Mr Nelson, who is more bullish on the price of Brent than peers, forecasts the price of Brent to reach $115 a barrel next year and the $130-$150 range by the end of the decade....
...For example, ICE Brent December 2019 futures contract has risen almost 4.1 per cent this month to $97.78 a barrel....
...The resulting surplus has led to a dramatic 30 per cent fall in the price of Brent – the international oil benchmark – since mid-June to $80 a barrel on Friday....
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