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Aug 18, 2014

Oil sinks to lowest since June 2013 as supply risks ease

LONDON (Reuters) – Oil fell below $102 a barrel to its lowest in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies.

Crude jumped on Friday after the government in Kiev said its artillery had partially destroyed a Russian armoured column. While fighting between Ukrainian forces and pro-Moscow separatists continues, fears of a further escalation proved unfounded.

Aug 18, 2014

Oil below $103 on easing geopolitical risks, ample supply

LONDON, Aug 18 (Reuters) – Oil fell more than $1 a barrel to
trade below $103 on Monday as investor concerns over conflict in
Ukraine and Iraq eased, and as higher Libyan oil output added to
already ample supplies.

Crude jumped on Friday after the government in Kiev said its
artillery had partially destroyed a Russian armoured column.
While fighting between Ukrainian forces and pro-Moscow
separatists continues, fears of a further escalation proved
unfounded.

Aug 12, 2014

Benchmark Brent crude bears the scars of more U.S. oil

LONDON (Reuters) – Prices for international marker crude Brent have been jolted into a new pattern by booming U.S. crude output reshaping the market in its backyard Atlantic Basin market.

    The indirect impact of additional U.S. supply on Brent, used to price two-thirds of oil globally, adds to the influence of the U.S. in setting global prices.

Aug 8, 2014

OPEC sees lower 2014 oil demand growth, pumps more

LONDON, Aug 8 (Reuters) – OPEC trimmed its 2014 global oil
demand growth forecast for a second consecutive month and said
the group managed to increase output in July despite violence in
Iraq and Libya, pointing to more comfortable global supplies.

In a monthly report on Friday, the Organization of the
Petroleum Exporting Countries trimmed its projection for growth
in global demand this year to 1.10 million barrels per day
(bpd), down 30,000 bpd, citing weaker-than-expected U.S. demand.

Aug 6, 2014

Iran’s oil exports lower in July, stay above Western limits

LONDON, Aug 6 (Reuters) – Iran’s oil exports slipped for a
second month in July, yet sales remained above the limit set by
the West under an interim deal aimed at curbing Iran’s nuclear
programme, according to sources who track tanker shipments.

Iran and six world powers, known as the P5+1, agreed to
extend nuclear talks by four months after they failed to reach a
July 20 deadline for a permanent resolution. Under the interim
agreement, Iran’s crude exports were supposed to be held just
above 1 million barrels per day (bpd).

Jul 31, 2014

Shell second-quarter earnings rise 33 percent, beat forecasts

LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research, Stock Buzz) reported a 33 percent increase in quarterly earnings on Thursday, beating analyst forecasts, after producing more liquids and selling at higher prices.

The Anglo-Dutch oil company also raised its quarterly dividend and said the value of its share buybacks and dividends for 2014 and 2015 would exceed $30 billion. The stock (RDSa.L: Quote, Profile, Research, Stock Buzz) rose 3 percent in early trade.

Jul 31, 2014

Shell Q2 earnings rise 33 pct, beat forecasts

LONDON, July 31 (Reuters) – Royal Dutch Shell Plc
reported a 33 percent increase in quarterly earnings on
Thursday, beating analyst forecasts, after producing more
liquids and selling at higher prices.

The Anglo-Dutch oil company also raised its quarterly
dividend and said the value of its share buybacks and dividends
for 2014 and 2015 would exceed $30 billion. The stock
rose 3 percent in early trade.

Jul 30, 2014

OPEC oil output rises in July on fragile Libyan rebound

LONDON, July 30 (Reuters) – OPEC’s oil production rose in
July from June, a Reuters survey found on Wednesday, as a
fragile recovery in Libyan supply outweighed fighting in Iraq
and reduced output from Angola.

Despite the increase, unrest in Africa and the Middle East
is still weighing on supply. That could hinder OPEC’s ability to
boost output later in the year, when the International Energy
Agency expects demand for OPEC crude to rise.

Jul 23, 2014

Iraq’s south oil exports rise to near-record, avoid northern conflict

LONDON, July 23 (Reuters) – Iraq’s oil exports from its
southern terminals in July rose to a near-record rate, according
to loading data and industry sources, remaining unaffected by
fighting in other parts of the country.

An advance by Sunni militants who seized swathes of northern
Iraq last month raised concern Iraqi exports could slow down and
briefly boosted global oil prices to a nine-month high
above $115 a barrel.

Jul 1, 2014

Despite Saudi pledge, another big oil outage would strain supply

LONDON, July 1 (Reuters) – The world’s unused spare oil
production capacity would struggle to cover for another big
outage, industry officials and analysts say, increasing the
chance governments may tap strategic reserves should Iraq’s
southern exports be disrupted.

Unrest in Iraq comes as the almost total loss of Libyan
supply, Western sanctions on Iran as well as conflict in Syria
and northern Iraq are keeping almost 3 million barrels per day
(bpd) – more than 3 percent of world demand – off the market.

    • About Alex

      "Senior correspondent in the crude oil team on Reuters energy desk in London. I joined Reuters in 2006 and previously covered energy for Bloomberg, Platts and Bridge News."
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