Oil heads for biggest annual gains since at least 2016 | Reuters
Oil prices fell on Friday but were set to post their biggest annual gains since at least 2016, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record highs around the world.
Brent crude futures fell $1.01, or 1.3%, to $78.52 a barrel at 1201 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped $1.12, or 1.5%, to $75.87 a barrel.
Brent is on track to end the year up nearly 52%, its biggest gain since 2016, while WTI is heading for a 56.5% gain, the strongest performance for benchmark contract since 2009, when prices soared more than 70%. Both contracts touched their 2021 peak in October with Brent at $86.70 a barrel, the highest since 2018, and WTI at $85.41 a barrel, the highest since 2014.
Global oil prices , are expected to rise further next year as jet fuel demand catches up. read more
Friday 31 December 2021
Oil heads for biggest annual gains since 2009 | Reuters
Oil heads for biggest annual gains since 2009 | Reuters
Oil prices edged down on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record highs around the world.
Brent crude futures fell 3 cents to $79.50 a barrel at 0718 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.1%, to $76.89 a barrel.
Brent is on track to end the year up 53%, while WTI is heading for a 58% gain, the strongest performance for the two benchmark contracts since 2009, when prices soared more than 70%. Both contracts touched their 2021 peak in October with Brent at $86.70 a barrel, the highest since 2018, and WTI at $85.41 a barrel, the loftiest since 2014.
Global oil prices , are expected to rise further next year as jet fuel demand catches up. read more
Oil prices edged down on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record highs around the world.
Brent crude futures fell 3 cents to $79.50 a barrel at 0718 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.1%, to $76.89 a barrel.
Brent is on track to end the year up 53%, while WTI is heading for a 58% gain, the strongest performance for the two benchmark contracts since 2009, when prices soared more than 70%. Both contracts touched their 2021 peak in October with Brent at $86.70 a barrel, the highest since 2018, and WTI at $85.41 a barrel, the loftiest since 2014.
Global oil prices , are expected to rise further next year as jet fuel demand catches up. read more
Mubadala to exit its holdings in US data centre company Cologix
Mubadala to exit its holdings in US data centre company Cologix
Mubadala Investment Company has said it reached a deal with the US-based investment firm Stonepeak Infrastructure Partners to sell its share in data centre company Cologix for an undisclosed sum.
Cologix will be transferred from Stonepeak Infrastructure Fund II LP and co-investors (Fund II) to another Stonepeak-managed vehicle comprising a combination of some existing Fund II investors and a number of new third-party investors, Mubadala said in a statement late on Thursday.
The transaction is expected to close in early 2022.
“Our success as a leading investor lies in our ability to identify uniquely placed. quality businesses to venture into, and equally importantly, assess monetisation opportunities to ensure that we maintain significant capital growth and a healthy portfolio of business investments,” said Khaled Al Qubaisi, chief executive of Real Estate and Infrastructure Investments at Mubadala.
Mubadala Investment Company has said it reached a deal with the US-based investment firm Stonepeak Infrastructure Partners to sell its share in data centre company Cologix for an undisclosed sum.
Cologix will be transferred from Stonepeak Infrastructure Fund II LP and co-investors (Fund II) to another Stonepeak-managed vehicle comprising a combination of some existing Fund II investors and a number of new third-party investors, Mubadala said in a statement late on Thursday.
The transaction is expected to close in early 2022.
“Our success as a leading investor lies in our ability to identify uniquely placed. quality businesses to venture into, and equally importantly, assess monetisation opportunities to ensure that we maintain significant capital growth and a healthy portfolio of business investments,” said Khaled Al Qubaisi, chief executive of Real Estate and Infrastructure Investments at Mubadala.
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