crude oil

ExxonMobil has formed an Arctic exploration partnership with Russian state oil company Rosneft, in a strategic coup over rival BP.

Investec's Mark Lacey and Jonathan Waghorn have said energy equities in the E&P sector are showing "extreme value" as shares discount M&A prospects and price in a global recession.

Crude oil advanced for a fourth day on signs Europe and US will contain their debt crises, easing speculation demand for raw materials will suffer, Bloomberg reports.

Brent crude is trading at a four-month low following the International Energy Agency's (IEA) decision to boost oil supply last week.

Fears of a Greek default continued to impact markets despite a deal between the European Union and the IMF being struck yesterday.

An OPEC dispute over whether to raise oil production levels has sent oil prices soaring to $117.8 per barrel.

BP's troubled deal with state-controlled Russian oil company Rosneft has fallen through.

The FTSE 100 continued its rally this morning off the back of a strong showing in the US where better than expected earning pushed the S&P 500 through the 1,300 point barrier.

A major earthquake in Japan has rocked markets, which were already fragile yesterday as the FTSE 100 hit a five-week low.

Markets fell across the board at the start of trading today, after Moody's downgraded Spain's government debt from Aa1 to Aa2 with a negative outlook.