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Sunday 11th of April 2010
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News Tag: oil price

April 5, 2010

US jobs data boosts recovery hopes

by Kay Murchie
The Labor Department today revealed the world’s largest economy added 162,000 jobs last month - the largest job gain since March 2007. The unemployment rate remains at 9.7% - the third consecutive month it has been at this level. The news sent oil prices soaring to an 18-month high of $85.89 a barrel and was the highest since the height ...

November 16, 2009

Soaring gold prices sends FTSE to 2009 high

by Kay Murchie
Soaring gold prices sends FTSE to 2009 high
London’s FTSE 100 rose to its highest level this year after the price of gold hit a fresh record high today of $1,132.95 an ounce. Increasing demand from emerging markets has been pushing up the price of the precious metal over recent weeks. Furthermore, gold traditionally rises during the October to December period as the run-up to Christmas and ...

November 12, 2009

Russia’s economy sees 13.9% growth in Q3

by Kay Murchie
Statistics body Rosstat has today announced that Russia's economy expanded by 13.9% in the third quarter compared with the second quarter. However, when compared with the same period a year ago, the Russian economy contracted by 8.9%. The economy, which is heavily reliant on oil exports, has suffered from a severe downturn but the latest figures show that Russia is on ...

August 24, 2009

Oil price hits 10-month high on back of economic recovery

by Kay Murchie
Oil price hits 10-month high on back of economic recovery
US light crude hit $74.49 (£45) a barrel by afternoon in Europe today - after reaching $74.81, its highest intra-day price in ten months, on the back of increasing demand. Meanwhile, London's Brent crude was 16 cents higher to $74.35 a barrel. This resulted in stock rising in BP, Royal Dutch Shell, BG Group and Cairn Energy, all ...

August 3, 2009

Recovery hopes lift sterling and FTSE 100

by Kay Murchie
Sterling and the FTSE 100 index of leading shares both rose today on the back of growing hopes for an economic recovery. The FTSE jumped by 76.85 points to 4,685.21 - the highest level since October with Barclays and HSBC leading the banking sector after reporting first half profits earlier today. Meanwhile, sterling climbed to $1.6879 against the dollar and also hit ...

April 29, 2009

Shell quarterly profit hit by falling oil prices

by Kay Murchie
Oil giant Royal Dutch Shell has followed rival firm BP and announced a sharp fall in quarterly profits as oil prices fall and demand weakens. Profit for the first quarter plunged to $3.3 billion (£2.24 billion), down 58% compared with the same period in 2008 and represents a 31% fall compared with the fourth quarter of last year. Oil reached a ...