The oil price has bounced back from $50 a barrel at the start of the year to more than $71 thanks to US sanctions on Iran and Saudi Arabia’s caps on production. Among the clear beneficiaries of this rise in price have been oil giants such as BP and Royal Dutch Shell, yet not everyone is cheering. Anyone with a car, businesses that have to pay more to transport goods, and consumers are feeling the pinch as extra costs filter through to retailers.
Royal Dutch Shell was 9 per cent up and BP 10 per cent ahead after the first four months of the year. For smaller operators the rise was more dramatic: Tullow Oil gained 22 per cent, Energean Oil Read More