** European oil and oil stocks likely to test multi-year lows again before a sustainable recovery, say traders ** Brent and WTI both fall by around 5 pct on Wednesday after rising by 20 pct in the three previous trading days, a rally sparked by a greater-than-expected reduction in the US ri
Read moreUBS has unsurprisingly predicted a weak fourth quarter for oil services companies in its preview of the sector's earnings season, saying it remains negative about the industry "as tough gets tougher". "We remain cautious on services as oil company capex delays and reductions are likely to impact ear
Read more** UK oil services stocks up on Tuesday after Brent rises further 3 pct, with Hunting Plc, up as much as 12 pct, leading the FTSE 350 Oil Equipment & Services Index ** Index slumped to a 5-year low mid-Jan but up 15.2 pct since then as oil prices recover ** Rise in Brent follows 3 pc
Read more