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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/mar/27/oil-prices-dip-as-yemen-fears-fade-live-updates
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| Version 1 | Version 2 |
|---|---|
| Oil prices dip as Yemen fears fade - live updates | Oil prices dip as Yemen fears fade - live updates |
| (35 minutes later) | |
| 9.18am GMT09:18 | |
| With his international hat on, as chairman of the Financial Stability Board, Carney is speaking about the quest to end “too big to fail” among global banks. Progress is being made. | |
| It’s imperative that we finish this off this year. | |
| 9.13am GMT09:13 | |
| Mark Carney’s panel has started. | |
| He is introduced by the moderator as “a top figure in the financial world”. | |
| Carney is asked how concerned he is about high levels of global debt. Using the UK as an an example, he says that the concern is not about households defaulting - “UK households pay their debts” - but about households having to pay out so much to service their debt. | |
| That’s why we have used macro prudential tools as an insurance policy to limit that. | |
| Updated at 9.14am GMT | |
| 8.59am GMT08:59 | 8.59am GMT08:59 |
| UK house price growth slows | UK house price growth slows |
| While we’re waiting for Mark Carney’s panel to start in Frankfurt, an update from the UK’s housing market. | While we’re waiting for Mark Carney’s panel to start in Frankfurt, an update from the UK’s housing market. |
| The annual rate of house price growth slowed for a seventh month in March, to 5.1%. That - according to the Nationwide index - compares with a recent peak of 11.8% in June 2014. | The annual rate of house price growth slowed for a seventh month in March, to 5.1%. That - according to the Nationwide index - compares with a recent peak of 11.8% in June 2014. |
| The average price of a UK home is now 2% above its pre-crisis peak, at £189,454. | The average price of a UK home is now 2% above its pre-crisis peak, at £189,454. |
| Over the month of March, prices rose by 0.1%. The Guardian’s full story is here. | Over the month of March, prices rose by 0.1%. The Guardian’s full story is here. |
| 8.50am GMT08:50 | 8.50am GMT08:50 |
| European markets rise | European markets rise |
| Following a sell-off in European markets on Thursday, and a 0.95% fall in the Nikkei overnight, investors are a little more upbeat this morning. | Following a sell-off in European markets on Thursday, and a 0.95% fall in the Nikkei overnight, investors are a little more upbeat this morning. |
| The FTSE 100 is down slightly, 0.1% lower at 6,888.62, but markets are up elsewhere. | The FTSE 100 is down slightly, 0.1% lower at 6,888.62, but markets are up elsewhere. |
| 8.38am GMT08:38 | 8.38am GMT08:38 |
| Mark Carney, Bank of England governor, will be speaking on a panel at the Bundesbank conference from around 8.45am (UK time). | Mark Carney, Bank of England governor, will be speaking on a panel at the Bundesbank conference from around 8.45am (UK time). |
| The live feed is here and we will be following it. | The live feed is here and we will be following it. |
| Wolfgang Schäuble, German finance minister will also be speaking at the conference this afternoon. | Wolfgang Schäuble, German finance minister will also be speaking at the conference this afternoon. |
| 8.26am GMT08:26 | 8.26am GMT08:26 |
| Germany's Weidmann: eurozone debt in 'danger zone' | Germany's Weidmann: eurozone debt in 'danger zone' |
| Over in Frankfurt, the head of Germany’s central bank and a member of the European Central Bank’s governing council, has been warning on unsustainable debt levels in the eurozone. | Over in Frankfurt, the head of Germany’s central bank and a member of the European Central Bank’s governing council, has been warning on unsustainable debt levels in the eurozone. |
| Speaking at a Bundesbank conference, Jens Weidmann said: | Speaking at a Bundesbank conference, Jens Weidmann said: |
| In the euro area we are already in the danger zone - at least with regard to public debt standing at 91% and corporate debt at 105%. Household debt currently stands at 62%. | In the euro area we are already in the danger zone - at least with regard to public debt standing at 91% and corporate debt at 105%. Household debt currently stands at 62%. |
| Sovereign debt needs to be backed by capital, and exposure to a single sovereign must be capped, just as is the case for any private debtor. | Sovereign debt needs to be backed by capital, and exposure to a single sovereign must be capped, just as is the case for any private debtor. |
| You can read the full speech here. | You can read the full speech here. |
| 8.00am GMT08:00 | 8.00am GMT08:00 |
| Oil prices fall 1.7% | Oil prices fall 1.7% |
| Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. | Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. |
| Oil prices are falling again after the absence of fresh developments in Yemen eased fears of a broader conflict in the Middle East. | Oil prices are falling again after the absence of fresh developments in Yemen eased fears of a broader conflict in the Middle East. |
| Brent crude is down 1.7% at $58.17 this morning, following a 4% jump in Thursday trading. | Brent crude is down 1.7% at $58.17 this morning, following a 4% jump in Thursday trading. |
| Michael Hewson, chief market analyst at CMC Markets UK, says Tuesday’s spike followed patterns we’ve seen before. | Michael Hewson, chief market analyst at CMC Markets UK, says Tuesday’s spike followed patterns we’ve seen before. |
| The spike in oil prices caused by the Saudi military incursions into Yemen, has all the hallmarks of a classic knee jerk market reaction to a new flashpoint. | The spike in oil prices caused by the Saudi military incursions into Yemen, has all the hallmarks of a classic knee jerk market reaction to a new flashpoint. |
| We saw similar spikes last year with Ukraine, Libya and ISIS pushing into Iraq before markets settled back down again, and it is likely that these concerns about Yemen could follow a similar pattern, as long as there is no significant disruption through the straits between the Gulf of Aden and the Red Sea. | We saw similar spikes last year with Ukraine, Libya and ISIS pushing into Iraq before markets settled back down again, and it is likely that these concerns about Yemen could follow a similar pattern, as long as there is no significant disruption through the straits between the Gulf of Aden and the Red Sea. |
| Read our full story on how Saudi-led air strikes on the Yemeni capital, Sana’a, and the southern port city of Aden , affected markets on Thursday. | Read our full story on how Saudi-led air strikes on the Yemeni capital, Sana’a, and the southern port city of Aden , affected markets on Thursday. |
| Updated at 8.07am GMT | Updated at 8.07am GMT |