26th October 2015
Crude prices are holding near their October lows as investors look ahead this week to third quarter earnings from some of the key oil majors.
Leading the way is BP, which will update the markets on Tuesday.
Shares in the company have soared by around 20 per cent since their late September nadir, though continued low oil prices means the third quarter won’t have been an easy ride.
Norwegian producer Statoil follows on Wednesday, while France’s Total will report on Thursday.
Royal Dutch Shell and Chevron round of the week with third quarter earnings releases on Friday.
On Monday, oil prices were up slightly as the interest rate cut by the Chinese central bank gave a lift to investor confidence.
Nevertheless, crude remains range-bound, with Brent a little above $48 a barrel and US light crude at $44.65.
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