LONDON, Feb 13 (Reuters) – Stronger-than-expected demand has
drained oil inventories to the lowest level since 2008,
tightening the market and defying predictions of a glut, the
West’s energy watchdog said on Thursday.
The International Energy Agency (IEA) said oil inventories
in the developed world plummeted by 1.5 million barrels per day
(bpd) in the last three months of 2013, the steepest quarterly
decline since 1999
LONDON, Feb 13 (Reuters) – Brent crude oil slipped towards
$108 a barrel on Thursday, easing for the first time in three
sessions ahead of an expected dip in demand during the refinery
Losses were limited by an upbeat report from the
International Energy Agency (IEA), which said inventories in the
developed world fell by 1.5 million barrels per day (bpd) at the
end of last year, the steepest quarterly decline since 1999.
LONDON, Feb 11 (Reuters) – Goldman Sachs and Deutsche
Bank are quietly trying to get out of a business few
people know they are even in: trading supplies of raw uranium
known as yellowcake.
In the last four years, the banks have amassed low-grade
stockpiles of the nuclear fuel ingredient larger than those held
by Iran, and enough to run China’s nuclear plants for a year.
LONDON, Feb 6 (Reuters) – Brent crude rose further above
$106 a barrel on Thursday, recovering from a near three-month
low hit at the start of the week as traders weighed Libyan
supply disruptions against fears turmoil in emerging economies
could slow global growth.
Brent’s premium over U.S. crude has fallen to its lowest
since October. On Thursday the two benchmark contracts rose in
tandem, with West Texas Intermediate (WTI) approaching $98 a
LONDON, Jan 17 (Reuters) – Brent crude oil reversed early
losses on Friday after touching a two-month low near $105 a
barrel, but remained on course to finish down for the week as
traders assessed the likelihood of a sustained recovery in
supply from Libya.
Brent’s premium over U.S. crude also fell to its lowest in
almost a month, as the start-up of a major pipeline next week is
expected to help ease a bottleneck in the Midwest and let more
fast-rising shale production flow to Gulf Coast refineries.
LONDON, Jan 8 (Reuters) – Brent crude oil rose towards $108
per barrel on Wednesday, supported by new worries over Libyan
supplies and expectations for a drop in crude inventories in the
Tensions in Libya escalated after a heavily armed eastern
autonomy group said on Tuesday it would invite foreign companies
to buy oil from seized ports and protect arriving tankers, in
defiance of the government in Tripoli, which has vowed to stop
LONDON (Reuters) – Bank of America-Merrill Lynch shut its European power and gas sales and trading operation on Tuesday, the fourth major player to close parts of its commodities business as tighter regulation and fewer arbitrage opportunities erode profits.
Last month Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) sold its main physical oil trading unit to Russian state-run oil major Rosneft, and Deutsche Bank said it was largely exiting commodities trading. In July, JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) put its physical trading operations up for sale.
LONDON (Reuters) – Deutsche Bank AG (DBKGn.DE: Quote, Profile, Research, Stock Buzz) is holding preliminary talks with potential buyers of its uranium trading business – the first sign since announcing it was largely exiting commodities trading that parts of the operation are now on the block.
The bank’s uranium desk is one of the biggest third-party traders in the market, and holds substantial stockpiles of low-grade uranium, known as yellowcake, and numerous long-term deals with nuclear power plants.
LONDON, Dec 19 (Reuters) – Deutsche Bank AG is
holding preliminary talks with potential buyers of its uranium
trading business – the first sign since announcing it was
largely exiting commodities trading that parts of the operation
are now on the block.
The bank’s uranium desk is one of the biggest third-party
traders in the market, and holds substantial stockpiles of
low-grade uranium, known as yellowcake, and numerous long-term
deals with nuclear power plants.
LONDON, Dec 6 (Reuters) – The oil market is on the cusp of a
new cycle, Goldman Sachs said on Friday, with demand in the
United States growing at a faster pace than in emerging
economies such as China and India for the first time in a
That’s likely to have profound implications for how oil
markets operate, Jeffrey Currie, Goldman’s influential chief
commodity analyst wrote in a note, which says there will be a
“new oil order”.