Oil and Gas

Pound Sterling The Pound spent most of the week higher against its major peers and on Monday it continued to ride higher against the US Dollar and Euro thanks to last week’s positive economic data releases. House price data released in the afternoon showed that prices had fallen for the first time in six-months in […]

Daily chart: CL is falling sharply below the resistance level at 106.70, after several days trying to consolidate on a bullish trend. It is very likely that the CL fall back to support at 103.85 level. If the CL manages to break that level, it is likely that the current bearish trend to continue for […]

Daily chart: The CL is trying to fall back below resistance at 106.70 level. It is likely that this small bearish movement is something “corrective”. However, if the CL manages to break that level, it is expected to fall to the level of 103.85. Furthermore, the CL may form a lower high pattern, so that […]

Some rumors just won’t die.  Or as a former CEO friend of mine used to say, “The best way to handle rumors is to ignore them.”  But ignoring them in the financial news reporting business is probably an exception to the rule.  In the stock market it’s the rumors and speculation that make things exciting. […]

Daily chart: Finally, due to the uncertainty in Egypt, the CL broke the resistance at 106.70 level and is consolidating above it. It is very likely that the CL prolong their rise to resistance at 109.93 level. However, we must bear in mind that the uncertainty could also cause the CL fall and start strengthening […]

Just in case I have not made it clear by the end of this article, let me start by saying that I despise the U.S. Environmental Protection Agency.  Therefore, I am giving BP (LSE:BP.) a one-man standing ovation (which is hard to do whilst one is typing). On Monday this week, 12 August 2013, BP […]

Daily chart: CL is forming a lower high pattern, below the resistance level at 106.70. Is likely that the CL will find resistance at this level, however, there is also the possibility that it may break, because the CL is very strong in its current bullish trend. If the CL manages to break that level, […]

E.ON Exploration & Production’s (E&P) Tolmount gas discovery in the UK North Sea could contain significantly higher volumes than originally estimated, making it one of the largest discoveries made in this part of the North Sea for several years. The recently completed appraisal well reached its targets within time and budget on 6th July. A […]

Operators of Stanlow refinery, the UK’s second largest Essar Oil (UK) Ltd have appointed Janet Ashdown and Neville Chamberlain as independent non-executive directors of the company. Janet Ashdown was until the end of 2012 Chief Executive Officer of Harvest Energy Limited and Blue Ocean Oil Trading Limited, she previously worked for BP for 29 years […]

Step forward for British Gas owner. Centrica Energy’s Lincs offshore wind farm has been officially opened by the Deputy Prime Minister Nick Clegg. The last of the wind farm’s 75 wind turbines was connected to the National Grid on Wednesday 24 July, bringing the 270MW project up to full strength for the first time. Lincs […]