Community Editor for European power, gas and coal
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Jan 23, 2015

New Saudi king seen holding line on OPEC policy to keep oil output high

SINGAPORE, Jan 23 (Reuters) – Saudi Arabia’s new king is
expected to stick to an OPEC policy of keeping oil output steady
to protect the cartel’s market share from rival producers, even
as energy markets face some of the biggest shifts in decades.

Saudi Arabia’s King Abdullah died early on Friday and his
brother Salman became king, the royal court in the world’s top
oil exporter said in an official statement.

Jan 23, 2015

Oil jumps as Saudi king’s death feeds market uncertainty

SINGAPORE, Jan 23 (Reuters) – Oil prices jumped in Asian
trading on Friday as news of the death of Saudi Arabia’s King
Abdullah added to uncertainty in energy markets already facing
some of the biggest shifts in decades.

Abdullah died early on Friday and his brother Salman became
king, the royal court in the world’s top oil exporter and
birthplace of Islam said in a statement carried by state
television.

Jan 23, 2015

Oil jumps after Saudi king’s death amid huge market shifts

SINGAPORE (Reuters) – Oil prices jumped in early Asian trading on Friday as news of the death of Saudi Arabia’s King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades.

Abdullah died early on Friday and his brother Salman became king, the royal court in the world’s top oil exporter and birthplace of Islam said in a statement carried by state television.

Jan 22, 2015

Oil prices dip ahead of looming ECB bond buying program

SINGAPORE (Reuters) – Oil prices dipped early on Thursday ahead of the expected announcement of a bond-buying program by the European Central Bank (ECB) later in the day that could push the dollar to new highs and put downward pressure on commodities.

The ECB’s Executive Board has proposed a program that would enable it to buy 50 billion euros ($58 billion) in bonds a month starting in March, according to a euro zone source.

Jan 21, 2015

Record new LNG supplies to pull prices down further, boost demand -Bernstein

SINGAPORE, Jan 21 (Reuters) – The next two years will see
the biggest ever additions made to liquefied natural gas (LNG)
supplies, almost all in Asia, putting further pressure on prices
that have halved over the past year.

Over 60 million tonnes of new LNG production will start up
in 2015 and 2016, industry data shows, slightly more than in the
previous record years of 2008 and 2009. This will lift capacity
by around 20 percent to 345 million tonnes a year.

Jan 21, 2015

Brent crude inches above $48, but outlook remains weak

SINGAPORE, Jan 21 (Reuters) – Oil prices edged up on
Wednesday in a further sign of support around current levels,
but analysts fretted that the outlook for the next six months
remained bleak due to oversupply.

Oil fell as much as 5 percent on Tuesday after the
International Monetary Fund cut its 2015 global economic
forecast and key producer Iran hinted prices could drop to $25 a
barrel without supportive OPEC action.

Jan 21, 2015

Oil prices edge up in early trading but outlook remains weak

SINGAPORE (Reuters) – Oil prices edged up in early Asian trading on Wednesday in a further sign that prices are receiving support around current levels, but analysts said the outlook for the next six months remained weak due to oversupply.

Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action.

Jan 20, 2015

Oil markets dip on weak China GDP data

SINGAPORE, Jan 20 (Reuters) – Oil markets dipped on Tuesday
as China’s economic growth for 2014 undershot a government
target and hit its weakest annual expansion in 24 years, adding
to worries in energy markets already suffering from slowing
demand and oversupply.

The world’s second-largest economy grew 7.4 percent last
year, China’s National Bureau of Statistics said, less than the
target of 7.5 percent. Growth in the fourth quarter held at its
weakest in nearly six years, although coming in slightly better
than expected at 7.3 percent.

Jan 20, 2015

Oil markets open cautiously ahead of China GDP data

SINGAPORE (Reuters) – Oil markets opened to cautious trading in Asia on Tuesday ahead of data expected to show China’s economy grew at the slowest pace in 24 years in 2014, stoking worries in energy markets already suffering from slowing demand and oversupply.

China is expected to report on Tuesday (9 p.m. ET) that economic growth slowed to 7.2 percent in the fourth quarter, a Reuters poll showed, keeping pressure on policymakers to roll out more stimulus measures.

Jan 19, 2015

Oil prices dip on gloomy Chinese, European outlook

SINGAPORE, Jan 19 (Reuters) – Oil prices fell in early Asian
trade on Monday, with markets expecting gloomy Chinese economic
data to be published this week.

Chinese new home prices fell an average 4.3 percent
year-on-year in 68 of the 70 major cities monitored. That was an
appetiser for Tuesday’s report on gross domestic product which
is expected to show annual growth slowed to 7.2 percent last
quarter, undershooting Beijing’s 7.5-percent target and the
weakest in 24 years.

    • 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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