Energy Correspondent, London
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Jul 19, 2013

Funds favour Europe benchmark Brent despite U.S. crude oil rally

LONDON, July 19 (Reuters) – Pension funds and hedge funds,
which invest in commodities, have rarely been more in accord
over which oil benchmark they prefer.

Despite a July rally in U.S. crude oil futures, which
took most funds by surprise, investors say the momentum is
behind European benchmark Brent even though the
relationship between the two is expected to remain volatile.

Jul 11, 2013

Don’t fear end to QE3 if economy grows, commodity managers say

LONDON (Reuters) – An end to U.S. monetary stimulus may not necessarily spell doom for commodity prices if a strong U.S. economic recovery boosts demand for oil and base metals, leading commodity managers say, but gold and silver are to be avoided.

Commodities sold off heavily in June following signals from the U.S. Federal Reserve that it would wind down its stimulus program, as long as the U.S. economy continues to improve. The shift in direction led to investors dumping bonds, a sharp rise in real interest rates and a stronger dollar – all of which clobbered commodity prices, particularly gold.

Jul 5, 2013

UK must act to save $500 bln of oil, North Sea firms say

LONDON, July 5 (Reuters) – Britain must get tough with major
oil firms that prevent smaller producers from getting access to
platforms and pipelines, or risk leaving as much as $500 billion
worth of oil in the ground, North Sea oil companies say.

Output from the North Sea has been in steep decline as
mature fields are exhausted and global firms such as BP
and Shell focus on more promising projects elsewhere.

Jul 4, 2013

Investors flee commodities in June as Fed signals end to stimulus

LONDON (Reuters) – Investors sold out of commodity exchange-traded products (ETPs) in June after the U.S. Federal Reserve signalled it would wind down its economic stimulus programme, pushing up real interest rates and making gold less attractive.

But the June outflow of $4.7 billion from commodity ETPs was less than May’s $6.3 billion and April’s record of $9.3 billion, according to data from BlackRock, the world’s largest asset manager. Gold ETP outflows at $4.1 billion accounted for most of the June total.

May 24, 2013

Tighter oil market will boost unloved energy stocks-Investec

LONDON, May 24 (Reuters) – A tighter oil market in the
second half of 2013 will boost some energy stocks, which have
trailed the rest of the equity market though the rally, said
Charles Whall, co-manager of Investec’s $1 billion-plus energy
fund.

Although investors have flocked to equity markets since the
start of 2013, they have shunned energy stocks. Only basic
materials equities have put in a worse performance.

May 22, 2013

Manipulation probe draws attention to oil firms’ trading desks

LONDON, May 22 (Reuters) – Europe’s energy price
manipulation probe has turned regulatory attention to secretive
trading units at oil companies with huge turnover and
millionaire staff with risk appetite higher than at Wall
Street’s biggest banks.

Regulators have scrutinised banks, trading houses and
commodities markets more closely following the Libor benchmark
rigging scandal but trading desks at oil majors have largely
escaped attention.

May 15, 2013

North Sea oil output expected to fall by 10 pct in June

LONDON, May 15 (Reuters) – North Sea oil output is set to
fall by just over 10 percent in June from May largely due to
maintenance in the Ekofisk region, which is expected to support
Norway’s light, sweet grades.

Output from 12 crude streams tracked by Reuters will average
1.734 million barrels per day (bpd) in June, based on the latest
information from loading schedules and trading sources, down
from the 1.932 million bpd in May.

Apr 29, 2013

Slower world growth gives commodity investors cold feet

LONDON/NEW YORK, April 29 (Reuters) – Investors are staying
away from commodities, fearing that the worst is yet to come
after prices plunged in April on signs of slower world economic
growth.

Wealth managers have been pulling money from commodities
since the start of the year, culminating in a major sell off in
April when investors dumped gold, copper and oil.

Apr 25, 2013

Oil steady above $101 as rally runs out of steam

LONDON, April 25 (Reuters) – Brent crude oil prices held
above $101 a barrel on Thursday, although scepticism set in that
Wednesday’s rally would be sustained as traders focused on the
weak outlook for global demand and rising supply.

Recent disappointing data from Europe and top oil consumers
the United States and China have stoked worries about global
demand for oil, dragging down prices by more than 5 percent
since the start of April and fuelling speculation about supply
cuts.

Apr 19, 2013

Tough first quarter for commodity funds-Lipper

LONDON, April 19 (Reuters) – Commodity funds took a beating
in the first quarter, with the average actively managed fund in
the Lipper Global Commodity sector down 1.83 percent, as market
volatility provided no clear direction.

A cross-commodity sell-off in mid-April led by safe-haven
gold has since compounded the pain. Gold plunged about 13
percent over last Friday and Monday – its worst two-day fall in
30 years.

    • 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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