Energy Correspondent, London
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Feb 27, 2015

Brent rises above $61, set for first monthly gain since July

LONDON (Reuters) – Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since July, helped by strong investor inflows, an improving demand outlook and supply outages.

At 4.55 a.m. ET, Brent crude futures LCOc1 were up $1.50 at $61.54 a barrel, while U.S. crude CLc1 was up $1.23 at $49.40 a barrel. Both contracts tumbled on Thursday, with U.S. crude falling hardest.

Feb 25, 2015

Petrofac’s order book grows, net profit falls

LONDON, Feb 25 (Reuters) – Oilfield services company
Petrofac said its order backlog was up 26 percent at the
end of 2014, sending its shares eight percent higher despite a
fall in net profit for the year.

The order backlog hit $18.9 billion at year-end and Chief
Executive Ayman Asfari said on Wednesday the company saw
attractive bidding opportunities in the year ahead.

Feb 25, 2015

Petrofac FY net profit falls, order book grows

LONDON, Feb 25 (Reuters) – Oilfield services company
Petrofac reported a fall in 2014 net profit on mainly on
impairment charges related to over-runs on two major projects,
but shares edged up in early trading on a record order book.

The order backlog hit $18.9 billion at year-end, up 26
percent, and Chief Executive Ayman Asfari said the company saw
an attractive bidding opportunities in the year ahead.

Feb 24, 2015

Hedge fund Scipion Capital fills commodity trade finance gap

LONDON, Feb 24 (Reuters) – Hedge fund manager Scipion
Capital is hoping to appeal to institutional investors
disillusioned with poor commodity fund performance by offering
an alternative – a commodity trade finance fund that delivers
decent steady returns.

In recent years some banks have reduced their commodity
trade finance activities as regulators have cranked up
capitalisation requirements, squeezing the margins on offer.

Feb 19, 2015

Oil falls sharply as U.S. crude inventories rise

LONDON (Reuters) – Oil prices tumbled on Thursday after another big weekly build in U.S. crude inventories and a possible rise in Saudi output stoked worries about oversupply.

U.S. crude stocks rose by 14.3 million barrels last week, data from industry group the American Petroleum Institute (API) showed after Wednesday’s settlement, compared with analysts’ expectations for an increase of 3.2 million barrels. [API/S]

Feb 2, 2015

Oil prices rally above $55 as investors pile in

LONDON (Reuters) – Crude oil prices rose on Monday as investors shrugged off a U.S. refinery strike and focused on a falling U.S. rig count that signalled lower production down the line.

“There were a lot of people on the sidelines waiting for an opportunity to buy,” said Bjarne Schieldrop, chief commodity analyst at SEB.

Feb 2, 2015

Oil prices fall on weak Chinese data, U.S. refinery strikes

LONDON (Reuters) – Crude oil prices fell on Monday after U.S. unions called a refinery strike and activity in China’s factory sector shrank for the second month in a row, quashing Friday’s bullish mood.

At 0938 GMT (4.38 a.m. ET) Brent crude oil futures were down $1.05 at $51.94 a barrel while U.S. crude futures were down $1.13 at $47.11 a barrel.

Jan 29, 2015

Oil holds above $48 a barrel after U.S. stocks hit record high

LONDON (Reuters) – Brent crude oil futures held above $48 a barrel on Thursday as investor inflows offset data showing that U.S. crude stocks had hit a record high.

By 0928 GMT on Thursday, U.S. crude CLc1 was trading at about $44.50 a barrel, up 5 cents and off a six-year low hit on Wednesday. Brent LCOc1 was up 26 cents at $48.73 a barrel.

Jan 28, 2015

A Minute With: Folk musician Nancy Kerr weds old with new

LONDON (Reuters) – The songs of English folk musician Nancy Kerr may be steeped in tradition and imagery but her subject matter is taken straight from today’s headlines.

Her first solo album, “Sweet Visitor”, featured a song about the West’s exploitation of cheap Asian labour, written after the collapse of the Rana Plaza clothing factory in Bangladesh, and another one about the transformation of London’s East End, her birthplace, for the 2012 Olympics.

Jan 23, 2015

In battered oil services sector, smallest look weakest

LONDON/OSLO, Jan 22 (Reuters) – Slammed by plunging oil
prices, oil services companies which supply rigs and carry out
seismic surveys face a bleak outlook of cutbacks and contract
cancellations. Peer through the gloom though and possible
winners as well as losers emerge.

Titans of the sector such as Schlumberger NV and
Halliburton Co may have a chance to scoop up assets and
know-how from rivals less able to weather the downturn, as their
deeper pockets give them a major tactical advantage.

    • About Claire

      "At Reuters I am an energy correspondent covering the oil markets and investment trends in commodities. Prior to this I focused on the asset management industry. Before joining Reuters I edited Global Investor, a monthly magazine for the institutional investment industry, and Portfolio International, a magazine for the offshore funds industry."
      Joined Reuters:
      2006
      Languages:
      English
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