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At the close of trading, the North Sea oil traded for around 110.4 dollars is traded in the spot market. The spot price of burnt is a key reference price for oil trade worldwide.
The night’s fall in oil prices on Friday morning spread to the oil and gas shares Equinor, Aker BP and Vår Energi, which are down one, two and two per cent, respectively.
Oslo Børs opened flat. At lunchtime, it was on the plus side, before falling to a decline of 0.57 per cent at the close of trading.
The main index is now down close to ten percent from the top in May.
Drill Drilling fell
Tor Olav Trøims Borr Drilling fell 14 percent, after the company announced on Thursday night that it is not yet in port with the restructuring process the company is working on.
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The company’s share price plunged 20.6 percent on Thursday, but is still one of this year’s big winners with an increase of over 90 percent. The fall in the last two days means that the market value has shrunk by just under NOK 3 billion, from NOK 8.8 billion to NOK 5.8 billion.
The restructuring was previously expected to be completed by the end of the second quarter. The restructuring process is now expected to be completed by 15 July, and includes both capital raising and negotiations with existing creditors.
Idex Biometrics, which operates smart card solutions, rose close to ten percent on Friday. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms se her.
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