Energy Correspondent, London
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Aug 12, 2011

Exclusive: Vitol and Trafigura supply fuel to Syria

LONDON (Reuters) – Swiss oil traders Vitol and Trafigura are supplying fuel to Syria, dealers said Friday, despite a bloody military crackdown by President Bashar al-Assad’s security forces against protesters that has cost hundreds of lives.

Sytrol, Syria’s state-owned oil company, agreed to buy two 30,000 ton cargoes of gasoline, one apiece from Vitol and Trafigura, in a tender on the oil market that closed this week, several trading sources with knowledge of the deals said.

Aug 12, 2011

Vitol, Trafigura supply fuel to Syria

LONDON, Aug 12 (Reuters) – Swiss oil traders Vitol and
Trafigura are supplying fuel to Syria, dealers said on Friday,
despite a bloody military crackdown by President Bashar
al-Assad’s security forces against protesters that has cost
hundreds of lives.

Sytrol, Syria’s state-owned oil company, agreed to buy two
30,000 tonne cargoes of gasoline, one apiece from Vitol and
Trafigura, in a tender on the oil market that closed this week,
several trading sources with knowledge of the deals said.

Aug 12, 2011

Analysis: Recession risk unless oil prices fall further

LONDON (Reuters) – If history is any guide, another oil-induced recession may be just around the corner, at least for the United States and some of the other developed economies.

Every time that the cost of oil relative to global economic output has hit current levels — and that’s even after sharp falls in spot prices this month — it has heralded a slump.

Aug 12, 2011

Oil slips below $108 on USD strength, demand fears

LONDON (Reuters) – Oil slipped below $108 a barrel on Friday, reversing direction after two straight days of gains, as the dollar strengthened and concerns about oil demand in industrialized nations weighed on prices.

Brent crude futures for September were down 33 cents to $107.69 a barrel by 4:38 a.m. EDT, after having earlier traded down over a $1 to $106.86.

Jul 29, 2011

Brent holds near $117; investors eye debt limit

LONDON (Reuters) – Oil held around $117 on Friday but the trend was downwards as investors and traders awaited a resolution to the debt situation in the United States, which is still deadlocked ahead of the August 2 deadline to raise the U.S. debt limit.

At 0825 GMT, Brent crude was down 32 cents to $117.04 a barrel and U.S. crude was down 57 cents to $96.87 a barrel.

Jul 29, 2011

Brent holds near $117; investors eye U.S. debt

LONDON, July 29 (Reuters) – Oil held around $117 on Friday
but the trend was downwards as investors and traders awaited a
resolution to the debt situation in the United States, which is
still deadlocked ahead of the Aug. 2 deadline to raise the U.S.
debt limit.

At 0825 GMT, Brent crude LCOc1 was down 32 cents to
$117.04 a barrel and U.S. crude CLc1 was down 57 cents to
$96.87 a barrel.

Jul 27, 2011

U.S. crude extends losses on stocks build

LONDON (Reuters) – U.S. oil fell over $2 on Wednesday following U.S. data showing an unexpected crude stock build and a soft economy, while partisan wrangling over the U.S. debt limit continued to unnerve investors.

The Energy Information Administration (EIA) reported a weekly build in U.S. crude stocks of 2.3 million barrels, against a consensus forecast for a 1.7 million barrel draw.

Jul 27, 2011

U.S. crude falls on debt worry, supply rise

LONDON, July 27 (Reuters) – U.S. oil fell over $2 on
Wednesday following U.S. data showing an unexpected crude stock
build and a soft economy, while partisan wrangling over the U.S.
debt limit continued to unnerve investors.

The Energy Information Administration (EIA) reported a
weekly build in U.S. crude stocks of 2.3 million barrels,
against a consensus forecast for a 1.7 million barrel draw.

Jul 22, 2011

Funds embrace commodities after Q2 exodus

LONDON (Reuters) – Investors have started switching into commodities from equities and bonds this month, reversing flows in the second quarter, in a trend that is likely to continue as long as worries over inflation and debt crises dominate financial markets.

The switch breaks months of strong positive correlation between stocks and commodities indexes as funds, boosted by liquidity from the second round of U.S. economic stimulus, flooded into all markets.

Jul 22, 2011

Brent up above $118 on Europe debt plan, IEA

LONDON (Reuters) – Oil rose above $118 on Friday, as Europe’s latest attempts to resolve the debt crisis and signs of progress on a U.S. deficit reduction deal offset weak economic data from the world’s second-largest oil consumer, China.

The International Energy Agency’s decision not to release more oil from emergency reserves was also supporting prices.

    • 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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