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...Into the Void: From Birth to Black Sabbath — and Beyond by Geezer Butler (HarperCollins) Despite his band’s reputation for occultism, Black Sabbath’s Butler has dispensed with the services of a ghost for...
...The price of Brent crude hit $70 yesterday as global economic recovery strengthened prospects for oil demand....
...Dawn Butler, MP for Brent Central, said the Commons was “full” of coronavirus....
...The writer chairs the Policy Institute at King’s College London At just $36 for a barrel of Brent crude $32 for the US benchmark West Texas Intermediate, oil prices at the end of last week were back in...
...This dislocation could be further pronounced if visibility of the bottom on oil demand emerges and $20 Brent proves to be a floor....
...members have been forced to revert to a quota system of production, but even with significant volumes taken off the market the price has failed to increase above a core range of $60 to $70 for a barrel of Brent...
...The result is that, after a brief spike in the days after Abqaiq, oil prices have fallen back below $60 a barrel for Brent crude and below $55 for WTI, the US benchmark....
...The new fall — after a peak for Brent crude of $75.60 in April — will compound their problems. Working as a cartel is no longer effective....
...Restaurant Group stays “buy” post its recent cashbox, while Mitchells & Butlers is top sector pick with a 400p target....
...The shift from around $110 a barrel for Brent crude in the spring of 2014 to the current figure, of around $65, has been tough for many — including the companies involved....
...US export growth is the main reason why, despite the falls in production in Venezuela and Iran as a result of sanctions and social disintegration, the oil price at just over $60 for a barrel of Brent crude...
...So far the oil market has shrugged off the issue, with the Brent crude oil price barely moving over the last week....
...The fall in the oil price — just above $52 a barrel for Brent at the end of the week, a drop of more than a third in less than 90 days since the beginning of October — is more than another symptom of the...
...Brent crude is now trading up a mere 11 per cent at around $66.75. But still expect moves in London-listed stocks such as Royal Dutch Shell and BP (all up) and Ryanair and IAG (down)....
...The sharp fall in prices to below $60 a barrel for Brent crude and around $50 for West Texas Intermediate is beginning to be painful for producers whose economies depend on oil revenues....
...That surge in output has contributed to the persistence of low prices — at just over $60 a barrel for Brent it is slightly lower than 12 months ago. But another development deserves note....
...In 2008, with Brent crude averaging $97 a barrel, the IEA was anticipating an average of $100 (in 2007 money) over the period to 2015 and double that by 2030....
...But a price of $63 per barrel for Brent crude still represents a fall of 26 per cent since the beginning of October....
...Brent crude oil, the international benchmark, gained almost $12 to trade as high as $71.95 a barrel, before easing back to $65.21 in the European morning, still up 8.5 per cent....
...Last week, Donald Trump’s threat to block Iran’s remaining exports briefly helped send the price of Brent crude above $75 a barrel for the first time since last October, although it slid back on Friday after...
...Meanwhile, Peel Hunt’s gone to “buy” from “add” on pub operator Mitchells & Butlers with a 300p target....
...Other views Nick Butler — Iran could destabilise the new normal in oil prices Nick Butler — Nuclear power will fade unless it becomes more competitive Rachel Kyte — The UK’s net zero emissions plan can...
...The Saudis need an oil price of about $70 a barrel for Brent crude to balance the budget, but that leaves little room for new expenditure. Some elements of the Vision 2030 plan can easily be dropped....
...It concluded: “EIA expects broader global crude oil market conditions to have more significant effects on Brent prices than IMO regulations.”...
...Brent crude nevertheless ended the week at $72.15 a barrel, roughly where it was seven days ago before the US announced its plan to block all exports of Iranian oil....
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