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  • Article / 21 minutes ago

    #Election2015: High stakes for North Sea oil and gas

    Head of Commodity Strategy / Saxo Bank
    #Election2015: High stakes for North Sea oil and gas
    On the last UK election day five years ago the price of one barrel of North Sea crude oil was changing hands at $80 per barrel while UK oil production was running at 1.5m barrels per day. The price averaged $100 for the next five years but is now in the mid sixties and UK's oil production has slumped below 1m barrels per day to levels last seen in the 1970s. The main national UK parties all favour tax cuts for the offshore sector and any new government of whatever color could well go further in order to secure the future of the sector.
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  • Editor’s Picks / Friday at 15:35 GMT

    Oil may topple from its perch

    After a stellar month for beaten-down oil markets, the risk of another sharp slide downwards may be around the corner. Brent crude and WTI futures, the two global benchmarks for oil prices, rose almost 20% last month, CNBC's Dhara Ranasinghe reports. Oil markets delivered their best monthly gains for six years thanks to weakness in the US dollar and a view that the global supply glut would abate. But analysts now caution that the rally is probably premature and that the market is fundamentally oversupplied.
    Read article on CNBC
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  • Squawk / Friday at 12:06 GMT
    I think today most important data for oil is US Rig count data.. do anyone know what time that data is?
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  • Article / Friday at 10:30 GMT

    Daily Shot: Full steam ahead Team / Saxo Bank
    Daily Shot: Full steam ahead
    The parade of good news in the Eurozone continues, with Spain posting beating expectations on GDP growth and business and consumer sentiment improving. The euro crosses saw the common currency's rally continue, with EURJPY in particular posting a large spike.
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  • Squawk / Friday at 8:22 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    FTSE 100 Future Resilient Correction, Bull Trend Intact

    A further dip and another bounce from a spike to prod at better supports at 6875/71.5. to attempt to build a base from the recent correction.

    The base effort and bullish outside Monday pattern that produced a nudge to a new cycle high leaves a rebound bias today and whilst above deeper support at 6795, we see upside pressures into May.

    For Today:
    We see an upside bias for 6955.5; break here aims for 7000, maybe even up to 7023 and 7049.
    But below 6870 opens risk down to 6835, which we would look to try to hold.

    Short/ Intermediate-term Outlook - Upside Risks:
    We see a more positive tone with the bullish threat through the new record high at 7085.5.
    Above here targets 7123 and 7178.

    You can view the full FTSE 100 future report with screencasts, levels and day trade views - click here
    See our Equity Index Futures and all other reports here
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  • 2d
    fxtime fxtime
    Indeed LOL.
    Clare MacCarthy Clare MacCarthy
    fxtime: I've got two cocker spaniels, a letterbox and an impending general election in Denmark. Would be interested to know the colour of the indigestible election propaganda...
    fxtime fxtime
    LOL best not to look....sadly I do not know which party leaflet it was for but he is a young hound and Saint Bernards are renowned for...