crude oil

The chairman of Goldman Sachs Asset Management, Jim O'Neill, said another positive US payroll result on Friday could prompt a renewed rally in US equities.

HSBC's chief economist Stephen King has warned the rapidly rising oil price is a greater threat to the world economy and financial markets than a Greek default.

Crude oil prices hit a 43-month high on Thursday following reports a Saudi Arabian pipeline had exploded.

Crude oil surged to record levels in euro and sterling terms yesterday, adding to fears European economies could slump back into recession.

European markets edged lower this morning, echoing falls across Asia overnight, as investors showed caution over the outcome of the Greek debt swap deal.

Shares in UK oil major BP were off more than 3% today as investors fretted over a warning from a well known analyst that the settlement for 2010's Gulf of Mexico disaster could be well above estimates.

Investec Asset Management's Bradley George has revealed the three commodities he expects to outperform this year as the market starts to look through the eurozone crisis to focus on fundamentals.

Managers of the Guinness Global Energy fund have warned of an oil price spike to $150 per barrel if Iran were to carry out its threat of closing the Strait of Hormuz and blocking 15% of global oil exports.

Today's oil price is a risk to global economic growth, particularly in the US, said BP chief executive Bob Dudley.

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.