Energy Correspondent, London
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Oct 11, 2013

North Sea oil output to hit 2013 high in November

LONDON, Oct 11 (Reuters) – North Sea oil output tracked by
Reuters will rise by 17 percent in November from October to a
2013 high, potentially putting downward pressure on prices.

Although most European refineries are scheduled to emerge
from seasonal maintenance by November, poor margins may
encourage some to remain idle or resort to run cuts, market
participants said.

Oct 10, 2013

Commodity managers warm up to metals as world economy improves

LONDON (Reuters) – Base metals are back in favor with commodity managers after a long period in the dog house, reflecting a new enthusiasm for growth-oriented assets as the global economy picks up.

“The key economic regions of the world have either resumed a slight upward trend or have at least put the worst behind them,” said Ronald Wildmann, an adviser to the GFP Long Mining Fund, which returned almost 15 percent in the third quarter. “In China, the hard landing feared by many has not come to pass.”

Oct 9, 2013

Commodities find favour in Q3 with growth-hungry investors

LONDON (Reuters) – Broad commodity exchange-traded products (ETPs) returned to favour in the third quarter, attracting some $712 million according to BlackRock data, as investors sought out assets thought likely to benefit from a pick up in economic growth.

Equity ETPs also continued to do well, capturing some $28.7 billion in September, whilst fixed income ETP inflows totalled $6.6 billion. Overall, global ETP inflows reached $35 billion in September.

Oct 3, 2013

Sweet-sour crude dislocation felt in products markets

LONDON (Reuters) – The U.S. shale oil boom has meant a bumper pay day for U.S. refiners, but its light, sweet composition is leading to a shortage of heavy material, distorting product prices around the globe, refiners and consultants say.

Speaking at a the Oil & Money conference in London on Wednesday, Dario Scaffardi, general manager of Saras Group, an independent refiner, said there was a shortage of heavy crude in the Mediterranean basin, even as it was being priced out of the United States by cheap light, sweet Bakken crude.

Sep 26, 2013

Asia returns for big buys of North Sea crude

LONDON (Reuters) – Up to five VLCC North Sea crude oil shipments could move to Asia this autumn after a long hiatus, as the trade becomes more viable following a fall in Brent’s premium over Dubai crude.

Asia’s low sulphur, or sweet, crude and condensate supplies are very tight as arbitrage flows were curbed in August.

Aug 12, 2013

European refiners slash runs in face of soaring crude prices

LONDON, Aug 12 (Reuters) – European refiners are set to cut
crude oil processing rates this week by around 500,000 barrels
per day (bpd) as soaring oil prices bite deeper into their
already weak profit margins, traders and industry sources said.

The sources said on Monday that refiners, including BP
, Royal Dutch Shell and Total, would
reduce total output to around 11.5 million bpd.

Jul 30, 2013

New North Sea oil the wrong sort to boost Brent benchmark

LONDON, July 30 (Reuters) – Increased North Sea oil output
is the wrong sort of crude to replenish the Brent benchmark – a
diminishing base on which the price of more than half of the
world’s international oil trade rests, industry experts say.

The benchmark is underpinned by only four North Sea crudes -
Brent, Forties, Oseberg and Ekofisk (BFOE).

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.

    • 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:
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