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Mar 5, 2014

Brent oil falls for 2nd day, Crimea rally gains wiped out

LONDON, March 5 (Reuters) – Brent crude oil futures fell for
the second straight session on Wednesday, dropping below $109 a
barrel on an easing of fears that Russia’s incursion into
Ukraine could lead to war.

Brent is now more than $3 below a two-month high hit at the
start of the week following Russia’s seizure of Ukraine’s
autonomous Crimea region, with prices having retraced all the
gains seen on Monday.

Feb 21, 2014

Brent eases to $110, on track for highest weekly close in ’14

LONDON, Feb 21 (Reuters) – Brent crude oil slipped towards
$110 a barrel on Friday but remained on course for its highest
weekly close this year, as supply disruptions in Africa tighten
the market.

U.S. benchmark West Texas Intermediate was heading for its
sixth straight weekly rise and its discount to Brent has shrunk
to the narrowest in four months, as a new pipeline helps drain
supplies from WTI’s delivery point at Cushing, Oklahoma.

Feb 13, 2014

Robust demand tightening oil market, IEA says

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

Feb 13, 2014

Oil slips towards $108; IEA helps curb losses

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
maintenance season.

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.

Feb 11, 2014

Goldman puts ‘for sale’ sign on Iran’s old uranium supplier

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.

Feb 6, 2014

Brent crude oil continues recovery from 3-month low

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

Jan 17, 2014

Brent oil rebounds to $106, on course for weekly loss

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.

Jan 8, 2014

Brent climbs toward $108 on Libyan supply worries

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
United States.

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

Jan 7, 2014

BofA-Merrill Lynch shuts European power and gas trading desk

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.

Dec 19, 2013

Exclusive: Deutsche Bank talks with buyers for its uranium business

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.