LONDON, Dec 19 (Reuters) – Brent crude oil futures held
steady at over $109 a barrel on Thursday as the market shrugged
off a move by the U.S. Federal Reserve to reduce its monetary
stimulus programme, and remained focused on U.S. crude stock
Brent crude was down 17 cents to $109.46 a barrel by
0922 GMT, after ending $1.19 higher on Wednesday. U.S. oil
fell 3 cents to $97.77, after ending 58 cents up.
LONDON, Dec 18 (Reuters) – Mediterranean refiners have more
than doubled purchases of North Sea crude grades since November,
an unusual move that is expected to extend into 2014 with
British and Norwegian oil as the go-to substitute for absent
The bulk of Libya’s oil export terminals have been blocked
by protest groups since the end of July, meaning around 1
million barrels per day of light, sweet oil is missing from the
market, forcing refiners to look for crude elsewhere.
LONDON, Dec 18 (Reuters) – Fiddle player and songwriter
Bella Hardy has been in the vanguard of the British folk revival
of the last few years, with six albums under her belt and
numerous award nominations, including BBC Radio 2′s Folk Singer
of the Year.
Hardy has been hailed as a talent to watch since her 2007
debut album “Night Visiting”, and in 2012 she won BBC Radio 2′s
Folk Award for Best Original Song for “The Herring Girl”.
LONDON/NEW YORK, Nov 25 (Reuters) – One of the most popular
trading bets in oil markets, based on attempts to predict price
differences between European and U.S. oil benchmarks, is proving
to be one of the trickiest as funds suffer losses after sky-high
gains earlier this year.
For a generation, European and U.S. oil price benchmarks
rose and fell more or less in tandem, with U.S. WTI crude
usually worth a few dollars more than London’s Brent.
LONDON, Nov 15 (Reuters) – Ageing North Sea fields are being
abandoned by oil majors and increasingly rely on national oil
companies (NOC) from countries such as China and large service
providers to keep the oil – and tax revenues – flowing.
In the past, the company that owned the asset operated it,
but as output from mature fields has dwindled and oil majors
such as BP and Shell have sold out to smaller
producers, traditional models have become less economic.
LONDON (Reuters) – Investors pulled $2.76 billion from commodity exchange-traded products (ETPs) in October, diverting money into equities as a recovering U.S. economy boosted the dollar and created headwinds for commodity performance.
Broad commodity ETPs lost $561 million in October, according to global data from BlackRock, whilst equity ETPs attracted $35.9 billion, with strong contributions to U.S. equities, developed markets and emerging markets.
LONDON, Nov 8 (Reuters) – A decades-old rivalry between
banks and trading houses in commodities markets is taking new
forms, as banks adjust to tighter regulations and merchant
traders mount increasingly sophisticated challenges.
Banks have long been the dominant players in hedging – when
commodities producers and consumers buy derivatives to help
offset potential sharp price swings.
LONDON (Reuters) – Four NYMEX traders have alleged that the North Sea Brent crude oil market has been manipulated by oil majors and trading houses since at least 2002, in a class action they brought in the wake of a wide ranging European Commission inquiry.
Royal Dutch Shell, BP, Statoil, Morgan Stanley, Trafigura Beheer, Trafigura, Phibro Trading and Vitol are named as defendants in the lawsuit filed in a Manhattan court in October.
LONDON, Oct 30 (Reuters) – Global oil consumers are likely
to feel the benefit of much cheaper fuel by 2020 thanks to the
U.S.-led shale boom, a Reuters survey found.
According to the median estimate of the poll, Brent crude
will average $95 a barrel over the course of 2020, a drop of $20
from the estimate in a similar survey a year ago, even though
spot oil prices have changed little since then.
LONDON, Oct 18 (Reuters) – Brent crude futures held steady
at around $109 a barrel on Friday after strong Chinese Q3 GDP
data was offset by poor September oil demand in the world’s
second largest oil consumer.
Brent crude was up 15 cents at $109.26 a barrel by
0920 GMT but the contract was still poised to lose around 1.9
percent on the week after two weeks of gains. U.S. crude oil
fell 2 cents to $100.65.