Higher oil price gives renewables a boost

AFTER a year of swings, the oil price is moving toward a stable middle ground that will benefit not just the oil industry but the struggling renewables sector as well, experts say.

Brent crude closed at $67.82 a barrel last week – nearly double the $35 it plumbed in February but still less than half the record $146 a barrel it touched last summer.

Barclays Capital predicts it is now heading toward the $75 to $85