Energy Correspondent, London
Claire's Feed
Mar 7, 2012

Ashburton ups energy tilt to 48 percent in Europe fund

LONDON (Reuters) – Asset manager Ashburton has raised the energy exposure in its European equity fund to a record 48 percent, betting that the high oil price will benefit companies making big finds against a backdrop of declining production from existing oilfields.

Brent crude oil futures are currently trading at about $122 a barrel, rewarding exploration and production (E&P) companies making big discoveries and oil services companies that provide drilling rigs and vessels as day rates rise.

Feb 28, 2012

Oil down near $123 on demand concerns

LONDON (Reuters) – Oil prices slipped towards $123 a barrel on Tuesday as investors worried about high prices hurting demand, but supply concerns and the expectation of further liquidity injections from the ECB helped underpin prices at elevated levels.

Front-month Brent was down 99 cents to $123.18 a barrel by 1351 GMT, after settling more than $1 lower on Monday. U.S. crude was down 68 cents at $107.88 a barrel.

Feb 28, 2012

Oil slips below $124 on demand concerns

LONDON, Feb 28 (Reuters) – Oil prices slipped below
$124 a barrel on Tuesday as investors worried about high prices
hurting demand, but ongoing supply concerns and the expectation
of further liquidity injections from the ECB helped underpin
prices at elevated levels.

Front-month Brent was down 69 cents to $123.48 a
barrel by 0925 GMT, after settling more than $1 lower on Monday.
U.S. crude was down 10 cents at $108.46 a barrel.

Feb 22, 2012

Market eyes slow switch to new Brent NX contract

LONDON, Feb 22 (Reuters) – Crude oil market players
expect a slow but steady migration of open interest from the ICE
Brent contract to the exchange’s new NX contract in 2012
against the backdrop of a changing physical market.

The new NX contract is being introduced as part of a broader
change in the underlying physical crude oil market by price
assessment agency Platts, designed to make a larger number of
cargoes count in the process of setting Brent prices.

Feb 15, 2012

Coryton refinery gets lifeline from Petroplus founder

LONDON (Reuters) – Coryton refinery will continue to operate for at least three more months after Marcel Van Poecke, a co-founder of insolvent owner Petroplus, teamed up with Morgan Stanley and investor KKR to provide fresh crude supplies.

Coryton is the most coveted asset of the five refineries owned by Petroplus around Europe, traders and analysts say. It has been running at half capacity since banks stopped financing Petroplus in late December.

Feb 14, 2012

Oil eases on Europe demand fears, U.S. data

LONDON, Feb 14 (Reuters) – Brent crude oil fell
slightly on Tuesday, weighed by disappointing U.S. retail sales
data and euro zone debt worries after Moody’s warned it may cut
its triple-A credit ratings of France, Britain and Austria.

However, it remained close to six-month highs with
stronger-than-expected German data and tension in Iran helping
keep a floor under prices.

Feb 14, 2012

Oil dips near $117 on EU demand fears

LONDON (Reuters) – Oil prices slipped on Tuesday after ratings agency Moody’s downgraded six countries in Europe prompting renewed investor concerns about demand in the region, but prices were underpinned by fears of supply disruption in the Middle East.

Brent crude futures were down 53 cents to $117.40 a barrel at 0908 GMT. U.S. crude was stronger, up 4 cents to $100.95 a barrel, narrowing the difference between the two grades to less than $17 a barrel.

Feb 10, 2012

IEA cuts 2012 oil demand growth forecast yet again

LONDON (Reuters) – Global oil demand will grow by less than 1 percent in 2012, the International Energy Agency (IEA) said on Friday, cutting its oil growth demand forecast for a sixth consecutive month due to a weak global economy.

The agency, which provides energy advice to the world’s most industrialized nations, cut its global oil demand growth forecast for this year by 250,000 barrels per day (bpd) to 800,000 bpd.

Feb 6, 2012

Oil dips below $114; Greek debt, Iran in focus

LONDON (Reuters) – Oil slipped under $114 a barrel on Monday as traders and investors worried that a failure to agree a deal with Greece for a second bailout would suppress demand in the eurozone, but renewed tensions with Iran kept a floor under prices.

“There’s still not much confidence over the eurozone economies, and that is limiting upside from strong U.S. data and the tensions in Iran,” said Ken Hasegawa, a commodity derivatives manager with Newedge Brokerage in Tokyo.

Feb 6, 2012

Oil down near $114; Greek debt, Iran in focus

LONDON, Feb 6 (Reuters) – Oil slipped to around $114 a
barrel on Monday as traders and investors worried that a failure
to agree a deal with Greece for a second bailout would suppress
demand in the eurozone, but renewed tensions with Iran kept a
floor under prices.

“There’s still not much confidence over the eurozone
economies, and that is limiting upside from strong U.S. data and
the tensions in Iran,” said Ken Hasegawa, a commodity
derivatives manager with Newedge Brokerage in Tokyo.

    • 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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