crude oil

Bailing out the banks is not a solution to the debt crisis, and eurozone leaders should let troubled banks fail, said investment veteran Jim Rogers.

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.