Market Pulse - Commodities
SFO confiscates £140,000 from Petrofac's former head of sales
Petrofac's former Head of Sales, David Lufkin, has been ordered to pay more than £140,000 after pleading guilty to 14 counts of bribery in order to influence the awarding of oil and gas contracts in Iraq, Saudi Arabia and the United Arab Emirates.
Omicron results in fewer hospitalisations and ICU admissions, SA study shows
The newest variant of the SARS-CoV-2 coronavirus has resulted in fewer hospitalisations and intensive care unit admissions than previous waves of Covid-19, the results of a new study show.
Oil futures slip after OPEC says it expects Covid-19 impact to be "mild"
The Organisation of Petroleum Exporting Countries revised its forecasts for global crude oil demand in 2021 and 2022, but said it expected the impact of the Omicron variant to be "mild".
Saudi raises crude prices for Asia in January in possible sign of confidence
Crude oil futures are trading on the front foot in the early going after Saudi Aramco raised its official selling prices for Asia in January.
OPEC+ to raise output, but leaves itself room for manoeuvre
The Organisation of the Petroleum Exporting Countries and its allies surprised some oil traders with their decision to go ahead with their previously planned output hike in January - despite the appearance of Omicron, the new strain of Covid-19.