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'Brent could head back to $80 a barrel'
The rise in Brent crude prices through $75 a barrel along with a positive broker note on BP from Goldman has seen the oil and gas sector continue to lead the recent gains. According to the note BP is on the cusp of delivering one of the strongest pipelines of new oil and gas projects this year. With the share price back near its highest levels this year a lot of this good news may already be priced in, however if oil prices do head back towards $80 a barrel as seems probable then we could see further gains in the coming weeks.

Michael Hewson
Chief analyst, CMC Markets

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1. Macron tells Trump he has a copy of the Russian hooker pissing video.

2.  Trump has a ‘rethink’ on the Iran deal.

3.  Price of Brent crude drops to $40 a barrel, not before some ‘in the know folk’ have made a killing.

 

You heard it here first folks.

 

 

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Shell is doing ok - 

Royal Dutch Shell has reported a 42% rise in profits (measured as net income attributable to shareholders based on current cost of supplies).

The $5.3bn reported profit was higher than analysts had predicted.

Chief Executive Ben van Beurden put the good numbers down at least in part to the oil price, which is at a three year peak of $75 a barrel.

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Yes supporters will see this rise in price as a good thing as it adds to the economic argument for independence. But oil is volatile – and while I'm sure you won't see BBC Scotland headlines saying the oil price is soaring, I'm willing to bet they'll appear when the price drops again.

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Yes supporters will see this rise in price as a good thing as it adds to the economic argument for independence. But oil is volatile – and while I'm sure you won't see BBC Scotland headlines saying the oil price is soaring, I'm willing to bet they'll appear when the price drops again.


Maybe everybody can just acknowledge that prices can go both up and down.
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Maybe everybody can just acknowledge that prices can go both up and down.
If only the UK government acknowledged it years ago we might actually be cushioned from any fluctuations in oil price.
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I wonder if an independent Scotland would benefit as a whole from higher oil prices, given the impact on transportation costs etc. ?


What do transportation costs have to do with anything? The petrol stations nearest the Grangemouth refineries have the highest priced fuel in central Scotland
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