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Added on the 08/07/2015 14:25:37 - Copyright : Euronews EN
British ministers and the Chief of Defence Staff General Sir Nick Carter arrive at the Cabinet Office on Whitehall ahead of a meeting of Britain's emergencies committee over the seizure of a UK-flagged oil tanker in the Gulf. IMAGES
Oil prices have jumped over 3 percent to their highest since October 2015. As Sonia Legg reports, it follows growing Nigerian oil output disruptions and long-time bear Goldman Sachs saying the market had ended almost two years of oversupply.
BP slumps to its worst annual loss in 2015, the British oil and gas company announces, and says it will cut thousands more jobs in the face of a deep rout in oil prices. Hayley Platt reports
An oil price surge after a breakdown in diplomatic ties between Saudi Arabia and Iran was short-lived due to weak economic data from some of Asia's largest economies. But as Grace Pascoe reports there are concerns the dispute could have an impact on the global economy.
Oil prices would have to bounce back to $60 a barrel for U.S. oil producers to generate a good rate of return, says S&P Capital IQ's Stewart Glickman. Fred Katayama reports.
After a slide in crude prices on Wednesday's US stockpiles data, a push for a breakthrough in Iran's nuclear talks raises the prospect of even more supply hitting markets. Hayley Platt reports.
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