Tag Archive: gbp

S&P cuts Shell’s ratings – ANZ

FXStreet (Guatemala) – Analysts at ANZ noted the events in the oil price overnight.

Key Quotes:

“Crude oil prices fell sharply. The oil price rally faltered on signs of slowing industrial activity in the world’s biggest energy consumer.”

“China’s purchasing managers index dropped in January to a three-year low.”

“Rising supply also suggests further downside risk to short-term prices.”

“Output from OPEC rose to 33.1m bbl/day last month as Indonesia’s membership to the group was reactivated. On the corporate side, credit rating agency S&P has cut ratings for oil majors like Shell and five others.”

Analysts at ANZ noted the events in the oil price overnight.

(Market News Provided by FXstreet)