Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Sector movers: Oil stocks down with Brent at 16-month low

Tue, 09th Sep 2014 14:14

Oil and gas producers were among the heaviest fallers in London on Tuesday after Brent crude dropped to below $100 a barrel the previous session.Royal Dutch Shell was providing a drag on the sector, down 1.6%, while BP lost 0.7% and Tullow fell 0.4%Whilst slightly off the low of $99.36 seen on Monday - its weakest since 1 May 2013 - Brent was still trading below $100 at $99.86 on Tuesday afternoon, down 0.34% on the day. The price has now fallen 10.5% so far this quarter."Sellers continue to drive the price of crude lower in the face of building stocks and lower global growth prospects," said analyst Angus Campbell from Fxpro.Declines have been spurred after Monday's data from China showed a second straight monthly fall in imports in August, while figures on Friday indicated that hiring in the US slowed down to its weakest pace this year.Smaller companies in the UK-listed oil and gas sector were also under pressure in afternoon trade, including Aminex, Xplorer, 3Legs Resources, Solo Oil and Leyshon Energy.Top performing sectors so far todayBeverages 14,367.57 +0.97%Industrial Metals & Mining 1,384.38 +0.96%Oil Equipment, Services & Distribution 22,900.89 +0.79%Mobile Telecommunications 4,658.81 +0.75%Electronic & Electrical Equipment 3,760.89 +0.71%Bottom performing sectors so far todayElectricity 9,294.49 -1.37%Oil & Gas Producers 8,361.28 -1.02%Forestry & Paper 11,342.24 -0.94%Real Estate Investment Trusts 2,844.10 -0.87%Mining 17,168.04 -0.56%

Related Shares

More News
9 Apr 2024 16:14

UK shareholder meetings calendar - next 7 days

26 Mar 2024 09:40

LONDON BROKER RATINGS: Dr Martens cut to 'sell'; BofA likes Tullow

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

25 Mar 2024 16:51

LONDON MARKET CLOSE: Renewed global tensions put pressure on stocks

(Alliance News) - Stock prices in London started the week in bad shape and closed lower on Monday, as investors sat on their hands amid rising global ...

6 Mar 2024 09:53

Tullow Oil profit and revenue down on lower oil prices

(Alliance News) - Tullow Oil PLC on Wednesday said a reduction in oil prices led to a drop in its annual profit and revenue, though it still enjoyed a...

6 Mar 2024 08:13

Tullow cites lower oil prices as FY profits, revenue decline

(Sharecast News) - Oil and gas explorer Tullow Oil reported a drop in full-year profit and revenue on Wednesday, citing lower oil prices.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.