LONDON (Reuters) – The hottest oil spread of the year, Brent versus U.S. crude, is bracing for months of volatility as investors put polar bets on the outlook for the U.S. and European oil markets and use the trade as a proxy for short-term speculation on the regions’ economies.
The premium for ICE Brent futures over NYMEX U.S. crude, also known as WTI, narrowed to an eight-month low on Thursday. The spread reached a low of $7.89 per barrel, from a record of more than $28 in mid-October. It moved back to around $9.25 by 4:45 p.m.
LONDON (Reuters) – Investors stuck with gold exchange-traded products (ETPs) in October, but most other commodities ETPs saw outflows as investors remained cautious about the outlook for economic growth.
The gold trend has continued into November as the eurozone crisis has intensified, but oil ETPs have also begun to attract monies as investors eye developments in Iran.
LONDON, Nov 8 (Reuters) – Oil prices rose over $115 on
Tuesday on the back of strong seasonal fundamentals, as
investors weighed the prospect of supply disruption from Iran
against concerns over Italy’s sovereign debt risk.
Brent crude futures LCOc1 were up $1.13 a barrel to
$115.69 by 0851 GMT, after pushing up to $115.83 as London
traders arrived at their desks.
LONDON, Nov 3 (Reuters) – Oil prices slipped on Thursday to
around $109 a barrel as uncertainty over the Greek bail out
weighed on sentiment and the market digested bearish news of a
crude oil inventory build in the United States.
Brent crude for December LCOc1 was down 32 cents a barrel
at $109.02 by 0917 GMT, after slipping as low as $107.83 in
Asian trading. U.S. crude CLc1 fell 21 cents to $92.30 a
LONDON (Reuters) – Senior fund managers remain optimistic about the prospects for Chinese commodity demand and the outlook for crude oil, but investor fervour for commodities is now more tempered compared with the zeal of recent years.
Doubts about the strength of China’s growth prospects have led to weakened investor appetite for commodities over the last quarter amid heightened price volatility, but market watchers expect China to loosen its tight liquidity policy by year-end.
LONDON, Oct 27 (Reuters) – Senior fund managers remain
optimistic about the prospects for Chinese commodity demand and
the outlook for crude oil, but investor fervour for commodities
is now more tempered compared with the zeal of recent years.
Doubts about the strength of China’s growth prospects have
led to weakened investor appetite for commodities over the last
quarter amid heightened price volatility, but market watchers
expect China to loosen its tight liquidity policy by year-end.
LONDON (Reuters) – Small oil companies and gold miners offer some of the best upside given the rise in energy mergers and acquisitions activity and investor demand for gold bullion at a time of falling supply, said the manager of Axa IM’s new natural resources fund.
“We are slightly underweight energy but we are overweight small cap energy stocks as the companies making discoveries are takeover targets for the oil majors,” said Sebastien Lagarde, senior portfolio manager of the Axa Framlington Natural Resources Fund, which launched at end-September.
LONDON, Oct 25 (Reuters) – China’s thirst for oil will
squeeze prices higher and destroy demand in developed economies
if world oil supply growth does not exceed current trends, said
senior commodity fund managers who did not expect fast oil
output rises in Libya and Iraq.
“In the last 12 months China’s demand for diesel for power
generation has been one of the major drivers (of the market),”
Tony Hall, chief investment officer of the Duet Commodities
Fund, said at a conference in London on Tuesday.
LONDON, Oct 20 (Reuters) – Oil rose a dollar to around $109
a barrel on Thursday after European officials unveiled plans to
tackle the euro zone debt crisis through bond buying, whilst
tight supply continued to underpin.
Brent crude futures LCOc1 were up 82 cents to $109.21 a
barrel at 1012 GMT. They had hit an intraday high of $109.64
immediately after a document was issued explaining how the
European rescue fund will be able to buy bonds on the secondary
LONDON (Reuters) – Oil prices held steady at around $108 on Thursday supported by tight supply although Europe’s failure to agree a plan to resolve the euro zone’s debt crisis continued to stalk the market.
French President Nicolas Sarkozy flew to Frankfurt to talk with German Chancellor Angela Merkel to try to break a deadlock ahead of a crucial EU summit this weekend.