Community Editor for European power, gas and coal
Henning's Feed
Dec 16, 2014

Brent falls below $60 for first time since 2009

SINGAPORE (Reuters) – Brent crude oil prices fell over $1 per barrel and below $60 for the first time since July 2009 in early European trading on Tuesday as Chinese factory activity slowed and stumbling emerging market currencies dented demand expectations.

Oil futures have almost halved since June amid rising output and cooling demand, but producer club OPEC has so far resisted calls to cut production to shore up prices.

Dec 16, 2014

Oil prices fall, stumbling emerging markets dent outlook

SINGAPORE, Dec 16 (Reuters) – Oil prices fell on Tuesday,
with Brent mired near a 5-1/2 year low close to $60 per barrel,
as Chinese factory activity slowed for the first time in seven
months and stumbling emerging market currencies dented demand
expectations.

Oil futures have almost halved since June amid rising output
and cooling demand, but producer club OPEC has so far resisted
calls to cut production to shore up prices.

Dec 16, 2014

Oil prices fall as China’s factories slow

SINGAPORE (Reuters) – Oil prices fell on Tuesday, with Brent mired near a 5-1/2 year low close to $60 per barrel, as Chinese factory activity slowed and concerns rose over the health of emerging market economies and their currencies.

Oil prices have almost halved since June amid rising output and cooling demand, but producer club OPEC has so far resisted calls to cut production to shore up prices.

Dec 15, 2014

Oil, coal and iron ore at 2008/2009 financial crisis levels

SINGAPORE (Reuters) – Tumbling oil, coal and iron ore prices are now all at levels last seen during or before the financial crisis of 2008/2009, signalling not only the impact of a glut of supplies but deeper weakness in parts of the global economy, analysts say.

The raw materials are among the most sensitive to economic health, with oil and coal the world’s two most important energy sources and iron ore used to make steel.

Dec 15, 2014

Brent recovers more than $1, hits $62.95 on strong data hopes

SINGAPORE (Reuters) – Oil prices bounced back more than a dollar on Monday, after hitting 5-1/2-year lows of $60.28 earlier in the session, as traders began pricing in expectations of improving manufacturing data to be published later this week.

Brent fell as much as 2.5 percent after the International Energy Agency forecast further price falls and OPEC’s chief defended the group’s decision not to cut its output target.

Dec 9, 2014

LNG boom over as China looks to sell out of long-term deals

MILAN/SINGAPORE, Dec 10 (Reuters) – China’s state-controlled
energy giant Sinopec wants to sell some long-term liquefied
natural gas (LNG) import deals as a slowing economy makes them
unprofitable, sources say, signalling the end of a five-year
boom fuelled by rising Chinese demand.

Asia’s thirst for energy has helped drive a “dash for gas”
in producer countries from Australia to Canada, with LNG
emerging as the fastest growing fuel source since the beginning
of the century on the back of soaring Chinese imports.

Dec 2, 2014

Brent slips toward $72 after sharp rally in volatile market

SINGAPORE (Reuters) – Brent crude slipped toward $72 a barrel on Tuesday, giving up some of the gains seen on Monday when the market rallied for the first time in six sessions.

Oil has plunged close to 40 percent in the past five months in its longest string of monthly losses since the 2008 crisis, as supply growth led by the U.S. shale oil boom exceeded demand. A decision by OPEC to maintain output has also pummeled prices.

Dec 2, 2014

Russia’s South Stream pipeline falls victim to Ukraine crisis, energy rout

SINGAPORE/LONDON, Dec 2 (Reuters) – Russia’s $40 billion
South Stream gas pipeline project has fallen victim to plunging
energy prices, stalling European demand and the political
standoff between the European Union and Moscow over the crisis
in Ukraine.

Russia on Monday said it had scrapped the project to supply
gas to Europe without crossing Ukraine, citing EU objections,
and named Turkey as its preferred partner.

Nov 27, 2014

Brent falls to four-year low as OPEC production cut looks unlikely

SINGAPORE (Reuters) – Brent crude fell to a four-year low under $76.30 a barrel on Thursday as it became increasingly unlikely that OPEC would cut output to support prices during a meeting in Austria.

Gulf producers in the Organization of the Petroleum Exporting Countries (OPEC) – Saudi Arabia, Kuwait, Qatar and the United Arab Emirates – said on Wednesday they would not propose an output cut during the meeting on Thursday, reducing the likelihood of any joint action to prop up prices, which have sunk by a third since June.

Nov 27, 2014

Oil prices fall to 4-year lows as OPEC production cut looks unlikely

SINGAPORE, Nov 27 (Reuters) – Oil prices fell to four-year
lows on Thursday as it appeared unlikely producer club OPEC
would decide to cut output in support of prices at a meeting
this week, and as increasing Chinese and U.S. stocks boosted
available supplies.

The Gulf producers within the Organization of the Petroleum
Exporting Countries (OPEC) – Saudi Arabia, Kuwait, Qatar and the
United Arab Emirates – said on Wednesday that they will not
propose an output cut during the offical meeting on Thursday,
reducing the likelihood of joint action by OPEC to prop up
prices that have sunk by a third since June.

    • 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
    • Follow Henning