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Shell turns its back on Alaska after $8 billion bet ends in a handful of dust: Ben van Beurden is putting the oil major on another track after Arctic setback. It was a black hole of the worst kind for an oil company. Since 2008, Shell had poured about $8 billion into its Burger J prospect in Alaska’s Chukchi Sea, but instead of delivering a “gusher” and opening up a new oil frontier in the frozen north, it was dismayed to discover two weeks ago that it had drilled a “duster”.

Brent oil prices gained last week, after Russian military strikes intensified in Syria. Price also found support after the OPEC Secretary-General Abdalla Salem El-Badri stated that oil demand would increase more than expected this year amid lower prices. Brent crude oil prices rose 9.4% to $52.65/barrel.

ShareCast News) - The UK trade deficit in August grew more than expected, data released on Friday showed. According to the Office for National Statistics, the deficit hit £11.1bn compared with forecast calling for a £9.9bn figure.

Rents rising faster outside London than in the capital - Rightmove: Rents are rising faster outside of London than in the capital, according to a new report out

George Osborne’s infrastructure plans are a ‘win-win’ for U.K., says IMF: The head of the International Monetary Fund has given a ringing endorsement to George Osborne’s plans to beef up Britain’s infrastructure, describing it as a “win-win” option to boost growth.

Tullow regains Gabon licence with Prime Minister’s help: Tullow Oil has regained a licence in West Africa after David Cameron, the Prime Minister, intervened personally to resolve a year-old dispute over an oilfield stake.

Market towns attract house price premium: Homebuyers are paying hundreds of thousands of pounds more to live in market towns rather than in neighbouring areas, figures show

At 0330GMT today, Brent crude oil one month futures contract is trading 0.51% or $0.27 higher at $53.32 per barrel. Yesterday, the contract advanced 3.35% or $1.72, to settle at $53.05 per barrel, following geo-political crisis in Syria due to Russian military operations and amid a weaker greenback

Industry-led road shows will help landlords and tenants: Landlords and tenants will have the opportunity to find out more about joint industry initiatives in tenant farming at a series of industry-led road shows

UK house price balance declined unexpectedly in September In September, house price balance in the UK eased unexpectedly to a level of 44.00, lower than market expectations of a rise to 55.00. In the prior month, house price balance had registered a level of 53.00.

UK manufacturing production dropped more than expected in August Manufacturing production in the UK dropped 0.80% in August on a YoY basis, higher than market expectations for a fall of 0.20%. In the previous month, manufacturing production had recorded a revised drop of 1.20%. UK industrial production rose more than expected in August In August, industrial production advanced 1.90% on a YoY basis in the UK, compared to a revised advance of 0.70% in the previous month. Market anticipation was for industrial production to rise 1.20%. UK industrial production rose more than expected in August In the UK, industrial production climbed 1.00% in August on a MoM basis, more than market expectations for a rise of 0.30%. Industrial production had fallen by a revised 0.30% in the prior month. UK NIESR estimated GDP recorded a rise in the July-September 2015 period On a monthly basis, NIESR estimated GDP climbed 0.50% in the UK, in the July-September 2015 period. NIESR estimated GDP had registered a similar rise in the June-August 2015 period

Oil majors to stage climate change talks: The Bosses of eight of the world’s biggest oil companies are to meet in Paris next week to set out plans for tackling climate change, as the industry intensifies a charm offensive before United Nations talks on the issue next month

At 0330GMT today, Brent crude oil one month futures contract is trading 0.29% or $0.15 higher at $51.48 per barrel. Yesterday, the contract declined 1.14% or $0.59, to settle at $51.33 per barrel, after the EIA reported that the US crude oil inventories rose by 3.1 million barrels for the week ended 02 October

London leads the way as a wealth maker: London’s economy is outstripping the rest of the country, growing 3.3% year on year, compared with a national average of 2.5%, according to RBS’ regional growth figures out

Oil prices edge back above the $50 per barrel mark: Crude oil prices jumped above the $50 per barrel mark, after a monthly energy report suggested supplies are set to fall in the U.K. and global markets.

Home sales jump to 19-month high as mortgage approvals rise: Home sales have surged to an 18-month high as a combination of economic growth, low interest rates and a rise in mortgage approvals bolstered the property market over the summer.

Shell pledges to keep dividend despite slump in oil prices: Royal Dutch Shell has reassured investors that it will maintain its dividends regardless of a prolonged slump in oil prices below $50 per barrel.

Royal Dutch Shell warns of risk of oil price spike: Royal Dutch Shell on Tuesday warned of the risk of a “spike” in oil prices should Opec keep pumping flat-out in the face of an expected decline in output after spending cuts by energy groups outside the producers’ cartel.

UK Halifax house price index advanced less than expected in the July-September 2015 period On a YoY basis, the Halifax house price index recorded a rise of 8.60% in the July-September 2015 period, in the UK, lower than market expectations for an advance of 9.10%. In the June-August 2015 period, the Halifax house price index had registered a rise of 9.00%.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.58% or $0.30 higher at $52.22 per barrel, ahead of the EIA weekly oil inventory data, scheduled to be released later today. Yesterday, the contract climbed 5.42% or $2.67, to settle at $51.92 per barrel, after API reported that US crude oil stockpiles unexpectedly narrowed by 1.2 million barrels for the week ended 02 October. Also, oil prices gained after the OPEC projected that there would sharp cut in crude investments, thereby reducing the ongoing supply glut in the future.