Community Editor for European power, gas and coal
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May 28, 2015

Oil prices edge up after two days of steep falls

SINGAPORE, May 28 (Reuters) – Crude oil prices recovered on
Thursday after a two-day slide, although high U.S. stocks and
strong global production, along with a firm dollar, were keeping
markets under pressure.

The gains followed two days of steep falls as a resurgent
dollar weighed on the market amid concerns that U.S. crude
supplies may have started rising again after three weeks of
draws.

May 26, 2015

Oil prices come under pressure from strengthening U.S. dollar

SINGAPORE, May 26 (Reuters) – Crude oil prices were broadly
unchanged on Tuesday from their previous settlements as ample
supply offset firm demand, but analysts said the strengthening
U.S. dollar meant a recent oil rally was running out of steam.

Robust demand in Asia and also in the United States due to
its driving season is being met by near-record output,
especially from the Organization of the Petroleum Exporting
Countries (OPEC), although U.S. production seems to have peaked,
at least temporarily.

May 26, 2015

Oil prices steady but indications rally running out of steam

SINGAPORE (Reuters) – Crude oil prices were broadly unchanged in early trading on Tuesday, as firm demand supported and ample supply dragged, but analysts said there were signs that a recent rally was running out of steam.

Robust demand in Asia as well as due to the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries (OPEC), although U.S. production seems to have been peaked, at least temporarily.

May 25, 2015

Oil prices edge up on firm Asian, U.S. demand

SINGAPORE (Reuters) – Crude oil futures edged up on Monday, buoyed by healthy Asian appetite and demand from the U.S. driving season.

Front-month Brent crude prices were up 6 cents at $65.43 per barrel at 0045 GMT. U.S. crude prices were also up 6 cents at $59.78 a barrel.

May 21, 2015

Oil prices inch up, but stay within range

SINGAPORE, May 21 (Reuters) – Crude oil prices began rising
after initial dips on Thursday, but remained within a narrow
range that has been in place since late April as contradicting
views of an oversupplied versus a tightening market push prices
up and down.

Front-month Brent crude futures have seen numerous
days of erratic price rises and falls as views of a tightening
oil market and concerns of ongoing oversupply take turns in
dominating daily sentiment, although the rises and falls have
largely been in a $4 price range of $64-68 per barrel since
April 23.

May 21, 2015

Brent crude prices dip on oversupply

SINGAPORE (Reuters) – Brent crude oil prices dipped in early Asian trade on Thursday as ongoing oversupply weighed on markets, but prices remained within a narrow range in place since late April.

Front-month Brent crude futures LCOc1 have seen numerous days of erratic price rises and falls as contradicting views of a tightening oil market and concerns of ongoing oversupply take turns in dominating daily sentiment, although the rises and falls have largely been in a $4 price range between $64-68 per barrel since April 23.

May 20, 2015

Saudi Arabia, partners turn down Chinese requests for extra oil

BEIJING/SINGAPORE, May 20 (Reuters) – Saudi Arabia and its
main Middle East OPEC partners are turning down Chinese requests
for extra oil as they hold back fuel for their own refineries
just as demand from the world’s biggest crude importer hits new
records.

While the Saudi and other refusals for additional crude
supplies may not be part of a new pricing strategy, the
rejections to their biggest client help explain a 40 percent
rise in oil prices this year as Chinese importers have had to
seek more oil from other suppliers in what analysts say is still
an oversupplied market.

May 20, 2015

South African cargoes hold premium as power shortage bites

SINGAPORE, May 20 (Reuters) – South African physical coal
cargoes maintained a premium over Australian and European prices
as rolling power black-outs due to a severe shortage in
electricity generation threatened coal mining and ship loading
capacity.

South Africa’s national utility Eskom – struggling
with a serious liquidity crunch, frequent strikes, a credit
downgrading to junk status as well as top-management changes -
has implemented frequent blackouts this year as it cannot
produce enough electricity to meet demand.

May 20, 2015

Oil prices rise on strong Japan, Australia economic data

SINGAPORE, May 20 (Reuters) – Crude oil prices bounced back
on Wednesday from steep falls in the previous session as strong
Japanese economic growth surprised markets and the business
outlook in Australia also seemed to brighten, stoking producer
hopes of increased demand.

Japan’s economy, the world’s third largest, expanded at an
annualised rate of 2.4 percent in the first three months of this
year, more than a median market forecast for a 1.5 percent
increase and following a revised 1.1 percent expansion in
October-December, data from the Cabinet Office showed.

May 19, 2015

Oil prices drop as weak fundamentals weigh on market

SINGAPORE (Reuters) – Crude oil prices fell on Tuesday as slow economic growth and high supplies meant that markets remain oversupplied, although U.S. prices received some support from rising demand ahead of the summer driving season.

Brent futures LCOc1 were down 60 cents at $65.67 a barrel by 2.12 a.m. ET, after an almost 1 percent fall on Monday on near-record Saudi exports.

    • 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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