oil

BP has recorded a $17bn (£11bn) loss over the second quarter, one of the largest corporate losses in British history.

BP faced fresh takeover speculation on the weekend after the Obama administration reportedly told ExxonMobil it would not stand in the way of a takeover bid for its troubled British rival.

BP is understood to be negotiating with China National Offshore Oil Corporation (CNOOC) to sell a 60% stake in Pan America.

Barack Obama and David Cameron said stricken oil giant BP should "remain a strong and stable company".

Invesco Perpetual head of investments Neil Woodford says it is 'reckless' to believe BP's $20bn compensation package will mark the end of the oil giant's worries.

Russian President Dmitry Medvedev believes the Gulf of Mexico spill could lead to the "annihilation" of oil giant BP.

BP will not pay dividends for the remainder of the year as it has to put $20bn (£13.5bn) in a compensation fund for victims of the Gulf oil spill.

The derivatives exchange Eurex will list seven options contracts on June 1, based on a range of Source ETFs.

As consumption continues to rise and new forms of energy are developed, will oil be toppled from its perch? Christopher Wheaton, energy analyst at RCM, gives his views about the long-term dynamics in the markets.

Advisers should tell clients to get their money out of the pound before the currency collapses, urges a former City broker.