Good morning,

Timings - I have a lot of other work commitments every day this week, so I plan to write these reports very early - just so you know!

RNS announcements on my radar today (list is growing):

Black Gold

Brent crude was up as much as 19% overnight, with a high around $70 (versus a close of $60 on Friday). It has dropped back as of now to c. $65.50.

Drone strikes on Saudi Aramco knocked out 50% of Saudi Arabia's oil production, or 5% of total daily production, according to an expert quoted by CNBC.

Oil stocks might be fun this morning!

8.15 update: Royal Dutch Shell (LON:RDSB) is up 3%, BP (LON:BP.) is up 4%, Gulf Keystone Petroleum (LON:GKP) is up 6%.

Eddie Stobart Logistics (LON:ESL)

  • Share price: 71p (suspended)
  • No. of shares: 379 million
  • Market cap: £269 million

Company update

This company had a nightmare RNS last month, announcing that its CEO was standing down with immediate effect, that revenue recognition needed to be more prudent in future, and that profitability would therefore be "significantly lower".

On top of all that, the shares were suspended (pending clarification of the company's financials).

Interim Results

In the previous update, the company said that it expected to release interim results in early September.

It hasn't published them yet, and doesn't give a new forecast of when they might be out. Instead, it merely says that it will publish them "following further clarity"!

As far as the H1 results are concerned, ESL says it expects revenue of £450 million and underlying EBIT of £10 million to £11 million.

Context: in…

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