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...“Oil prices have surged this week with the price of Brent crude approaching $65 per barrel for the first time since June 2015,” said Thomas Pugh at Capital Economics....
...“There were a few guys among our suppliers who were pro-Brexit for that reason,” Mr Pugh says....
...“The likelihood of a deal being agreed has deteriorated over the past week,” said Tom Pugh at Capital Economics....
...But that bounce rapidly went into reverse, and Brent has plunged 10.7 per cent since its Monday peak....
...So should Saudi announce an additional output expansion in response to Iran’s return to market, Brent prices could retrace to the $30-35/bbl range....
...The lacklustre moves came as Brent crude fell 2.5 per cent to settle at a one-month low of $37.69 a barrel — after earlier rising to $38.92 — amid doubts about a deal between big oil producers to freeze...
...Founder and CEO, Farmdrop Bindi Karia Tech London Advocates Advisory Board Brendan Gill CEO, OpenSignal Brent Hoberman Co-Founder, Founders Factory, lastminute.com, Made.com, Founders.Forum Brian...
...Brent rebounded to $43.50 a barrel in afternoon trading on Tuesday....
...Brent, the international crude benchmark, settled 1.8 per cent weaker at a six-month low of $48.61, down 6.9 per cent over the five-day period. Since the start of July, Brent has tumbled 24 per cent....
...“The sharp increase in crude stocks has been far bigger than we would normally expect at this time of year,” said Thomas Pugh of Capital Economics....
...Although Brent stands at a $4 a barrel premium to WTI, earlier this month it reached parity and, for a brief period, WTI was more expensive than Brent....
...We expect Brent to end the decade at $70 a barrel.”...
...Brent has now fallen some 37 per cent since June against a backdrop of surging shale production in the US....
...“We remain confident that prices have further to fall,” said Thomas Pugh, commodities economist at Capital Economics....
...“Unconventional oil production will continue growing significantly in the US over the next few years and spread to other parts of the world,” says Thomas Pugh, commodities economist at Capital Economics,...
...ICE Brent July was flat at $108.40. Elsewhere, physical coal prices were under pressure after cargo changed hands at the lowest price since 2010, traders said....
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