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Mar 3, 2015

Brent crude up $1 to over $60.50 as global markets firm

SINGAPORE, March 3 (Reuters) – Brent crude oil prices rose
more than a dollar to above $60.50 a barrel on Tuesday, tracking
firmer Asian markets, but analysts warned the market remained
oversupplied.

Most Asian stock markets edged up on Tuesday, bolstered by a
record day on Wall Street, while a resurgent yen helped knock
the U.S. dollar index off an 11-year high, making commodities
priced in the greenback slightly cheaper for holders of other
currencies.

Mar 3, 2015

Oil prices rise as global markets firm, dollar comes off highs

SINGAPORE, March 3 (Reuters) – Brent crude futures rose
above $60 a barrel on Tuesday, after a sharp drop in the
previous session on record U.S. stocks, as firm Asian markets
supported prices.

Most Asian stock markets edged up, bolstered by another
record day on Wall Street, while a resurgent yen helped knock
the U.S. dollar index off an 11-year high, making commodities
priced in the greenback cheaper for holders of other currencies.

Mar 3, 2015

Brent crude oil steadies above $60 after sharp Monday fall

SINGAPORE, March 3 (Reuters) – Brent crude oil prices
steadied above $60 a barrel in early Asian trading on Tuesday,
supported by traders entering the market after prices dropped
sharply in the previous session on the back of record U.S.
stocks.

Brent futures fell 5 percent, its most in a month, on Monday
as record stocks and speculation of a nuclear deal with Tehran
could lift Iran’s sanctions and boost its oil exports brought
worries about high supplies back to the market.

Mar 2, 2015

Have Newcastle coal prices emerged from half a decade of decline?

SINGAPORE, March 2 (Reuters) – Prices of thermal coal for export
from Australia’s Newcastle port, Asia’s benchmark, have soared
30 percent this year. Some analysts are asking themselves: has
coal bottomed after more than half a decade of decline?

Newcastle prices have jumped to more than $80
a tonne from about $60 at the beginning of the year, their
steepest climb over a two-month period since 2010. The price
gains also broke a technical downtrend in place since 2008,
sparking debate as to whether the gains are speculative or
driven by fundamentals. London-headquartered commodities
brokerage Marex Spectron said last week that the price advance
was hardly justified, especially as demand in China slows.

Feb 27, 2015

Watch the shale spread: Brent vs WTI crude oil prices

SINGAPORE, Feb 27 (Reuters) – U.S. shale oil is deepening the
discount of U.S. crude prices to global benchmarks, with the
price gap turning into the de facto indicator of the health of
American shale supply, a shale spread of sorts.

The gap between West Texas Intermediate (WTI) and
Brent expanded to its biggest in a year at almost $12 a
barrel as U.S. oil stocks hit records while global demand
supported Brent. The surging U.S. production and inventories
point to an “oversupplied market which is hard to ignore,” ANZ
Bank said in a report on Friday.

Feb 26, 2015

Oil price slump threatens Malaysia’s oil ambitions

PENGERANG, Malaysia (Reuters) – A collapse in oil prices is making it harder to attract investment in the next phases of a plan to build one of Asia’s biggest energy hubs on Malaysia’s southernmost tip, a development estimated to be worth over $50 billion.

The Pengerang Integrated Petroleum Complex (PIPC) aims to help Malaysia compete with Singapore to become the region’s top oil and petrochemicals hub, but the local government body coordinating the project said the environment was now clearly tougher.

Feb 23, 2015

Brent edges up on cautious optimism over Greek debt compromise

SINGAPORE (Reuters) – Oil prices edged up after early falls on Monday as parts of Asia returned from the Lunar New Year holiday, with Brent futures moving further away from $60 a barrel and U.S. contracts moving towards $51.

Brent and U.S. WTI crude futures were helped by cautious optimism that another eurozone crisis over Greek debt had been averted for now by a compromise between Athens and its creditors.

Feb 23, 2015

Brent price edges up on cautious optimism over Greek debt compromise

SINGAPORE, Feb 23 (Reuters) – Oil prices edged up after
early falls on Monday as parts of Asia returned from the Lunar
New Year holiday, with Brent futures moving further away from
$60 a barrel and U.S. contracts moving towards $51.

After early trading losses, both international Brent and
U.S. WTI crude futures edged up on Monday in reaction to
cautious optimism that an immediate return of a eurozone crisis
over Greek debt was averted by a compromise between Athens and
its creditors.

Feb 23, 2015

Oil prices dip after Lunar New Year as U.S. inventories hit record highs

SINGAPORE (Reuters) – Oil prices dipped in early Asian trade on Monday after much of the region returned from the Lunar New Year holiday, with Brent futures testing support around $60 a barrel and U.S. contracts hovering around $50.50.

Following a steep fall from June 2014 to six-year lows, oil prices have recovered around a third of their value since mid-January, with benchmark Brent contracts jumping almost $20 a barrel to $63 a barrel last week as traders closed long-standing short positions in reaction to a falling U.S. rig count.

Feb 19, 2015

Oil falls sharply as U.S. crude inventories expected to hit record

TOKYO/SINGAPORE (Reuters) – Oil prices tumbled on Thursday as U.S. inventories were expected to hit record highs, while a possible rise in Saudi output could stoke oversupply built up in the past few months.

U.S. crude for March delivery dropped over 3 percent to a session low of $50.64 a barrel, down almost $2 from Wednesday’s settlement, after data showed a surprisingly sharp build in U.S. crude inventories. The contract was trading down around $1.50 at $50.64 by 0308 GMT (10.08 a.m. EST).

    • About Henning

      "Henning Gloystein is Community Editor for European power, gas and coal in London. Before joining Thomson Reuters, he was Deputy Director for Markets and Strategy at the London-based environmental market consultancy IDEAcarbon, and Team Leader for European Power Markets at Platts. Before moving to London in 2007, Henning worked as a freelance reporter and photographer for German and Latin American broadsheets and magazines, with assignments in Colombia, East Timor and Turkey. Henning has a Master’s degree in History and Politics from Humboldt University in Berlin."
      Languages:
      English, German, French, Spanish
    • More from Henning

      Publications:
      Three Borders
      Athena Press, 2007
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