Energy Correspondent, London
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Apr 19, 2013

Oil rises toward $100, but demand fears cap gains

LONDON, April 19 (Reuters) – Oil prices climbed towards $100
a barrel on Friday, recovering some ground after a steep six-day
fall, although worries about lower global demand and oversupply
kept a lid on the rebound.

Analysts said the market seemed to be stabilising after a
week of heavy liquidation, in which prices tumbled from over
$106 along with a rout in gold and industrial metals.

Apr 9, 2013

Heavy outflows from commodity ETPs as equities appeal – BlackRock

LONDON (Reuters) – Investors in commodity exchange traded products (ETPs) unwound their holdings to jump on the equity market rally in March, resulting in total redemptions of $3.2 billion globally, according to BlackRock data.

Gold suffered an investor exodus for a third consecutive month, bringing first-quarter ETP outflows to $9.2 billion, but white metals – silver, platinum and palladium – escaped the sell-off, BlackRock, the world’s largest asset manager, said.

Apr 4, 2013

UK oil revival beckons as new technology, investors halt decline

LONDON, April 4 (Reuters) – New operators and better
technology are set to reverse a decline in Britain’s North Sea
oil and gas output over the next few years, and could help the
country’s economy return to health.

Although output is expected to decline another 3-6 percent
this year, it will rebound by almost a third by 2017 as some 50
oil and gas fields start production on the United Kingdom’s
Continental Shelf, industry body figures show.

Mar 12, 2013

China keen to fix Britain’s broken benchmark oilfield

LONDON, March 12 (Reuters) – China’s state oil company is
prioritising a fix for Britain’s biggest oilfield, the
accident-prone Buzzard, which plays a part in setting global oil
prices.

CNOOC has taken a controlling stake in the North Sea field
central to the price of benchmark Brent crude and which, every
time it shuts, can raise costs for some of China’s oil imports.

Mar 8, 2013

Oil falls below $110 on ample supply

LONDON, March 8 (Reuters) – Brent crude oil futures fell
below $110 a barrel on Friday, pressured by higher-than-expected
supply from the North Sea and OPEC, and investors selling out of
commodities in favour of equities.

Brent futures fell $1.25 to $109.90 a barrel at 1217
GMT. Brent is down for the fourth consecutive week, its longest
weekly losing streak since May 2012.

Feb 18, 2013

Platts proposes changes to Brent benchmark

LONDON, Feb 18 (Reuters) – Oil pricing agency Platts has
proposed changes to the way it assesses the Brent oil market
following calls from the industry for a sweeping reform to
improve liquidity and transparency of one of the world’s most
important oil benchmarks.

At stake is the credibility of North Sea Brent, the
price-setter for billions of dollars of daily trade in crude.
The benchmark is based on the dwindling supply of four North Sea
crude grades, which critics say makes it prone to manipulation
and can lead to higher oil prices.

Feb 4, 2013

Europe’s surviving gasoline-focused refineries get late boost

LONDON, Feb 4 (Reuters) – A rush by Europe’s refiners to
switch to making diesel may have gone too far too fast, meaning
the remaining gasoline-focused plants can prolong their lives by
supplying rapidly growing Latin American and African markets.

As gasoline consumption has declined in Europe and the
United States, refiners have been investing heavily in diesel
production and closing gasoline units.

Jan 31, 2013

Oil refinery work may curb Forties flow to S.Korea

LONDON, Jan 31 (Reuters) – North Sea Forties oil exports to
South Korea, a specialised trade that has supported crude
prices, may drop in coming weeks due to maintenance at
refineries, potentially weakening a source of support for Brent
oil prices.

The flows – a result of a trade pact with the European Union
- became a common feature of the North Sea market in 2012 and
often support prices since Forties is part of the Brent oil
benchmark.

Jan 30, 2013

IKEN Capital rolls out high-performing commodity fund

LONDON, Jan 30 (Reuters) – Commodity funds have mostly been
a graveyard for investment returns since 2009, yet London-based
asset manager IKEN Capital’s new fund has bucked the trend in
its first six months.

Using a combination of algorithmic and relative value
strategies while hedging out macroeconomic risk, the Commodity
Alpha Fund is up over 7 percent since its “soft” launch in June
2012, having navigated tricky third and fourth quarters in which
many commodity funds were hard hit.

Jan 24, 2013

Oil holds above $112 on upbeat China PMI data

LONDON, Jan 24 (Reuters) – Brent crude oil prices held above
$112 a barrel on Thursday, supported by upbeat manufacturing
data from China and Germany, but U.S. crude stocks remained in
focus after capacity in the Seaway pipeline was reduced.

Brent crude futures for March delivery were down 18
cents at $112.62 a barrel by 0939 GMT, underpinned by positive
economic activity data from China and the eurozone. A stronger
dollar was applying downward pressure to offset this.

    • 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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