CMC Markets

Oil market strikes 2015 highs

Global oil prices hit 2015 peaks on May 6 as fresh tensions in oil producer Libya raised concerns about a supply disruption in the Middle East, analysts said.

The market was meanwhile awaiting the latest snapshot of oil inventories in the United States, which is the world's top crude consuming nation.

Brent oil drops under $50 for first time since 2009

European benchmark Brent oil sank under $50 per barrel today for the first time since 2009, hit by OPEC's production stance, oversupply, weak demand and the strong dollar.

In morning London deals, Brent North Sea crude for delivery in February dived to a 5.5-year low at $49.81 a barrel. New York crude had already slumped under $50 on Jan. 5.

Greek jitters weigh on European shares

Worries over Greece's future in the euro zone kept shares under pressure on Monday, even as fresh multi-year lows for the euro and crude oil gave a boost to travel and consumer-goods stocks.

The pan-European FTSEurofirst 300 index was down 0.1 percent at 0909 GMT, with benchmark indexes in London and Frankfurt also in negative territory. The Paris CAC 40 stayed flat.