Correspondent, London
Jack's Feed
Aug 8, 2014

Oil gains $1 on plans for U.S. air strikes in Iraq

LONDON, Aug 8 (Reuters) – Brent crude oil rose by more than
$1 towards $107 on Friday after the United States approved air
strikes against Islamist militants in Iraq, raising concerns
over the security of oil supplies from OPEC’s second largest
producer.

President Barack Obama said he had authorized limited use of
American air power on advancing Islamic State fighters in
northern Iraq but had no intention of getting dragged into war
there.

Aug 7, 2014

Oil falls towards $104 on supply, sanctions growth impact worry

LONDON, Aug 7 (Reuters) – Brent crude oil fell towards $104
a barrel on Thursday as ample supply in global markets was
compounded by worries over the impact of trade sanctions on
global economic growth.

Russia announced a full list of U.S. and EU food imports to
be banned in retaliation against Western sanctions over its
support for rebels in Ukraine.

Aug 6, 2014

Oil rebounds towards $105 from 9-month closing low

London, Aug 6 (Reuters) – Brent crude oil rose towards $105
a barrel on Wednesday, bouncing from its lowest close in nine
months after industry data showed a large drop in U.S. crude
stocks last week.

Investors have become increasingly nervous about weak
seasonal demand and poor refinery margins in a global market
that is well supplied with high quality, light crude oil.

Aug 5, 2014

Oil steady above $105 on geopolitical tension

LONDON, Aug 5 (Reuters) – Brent crude oil steadied above
$105 a barrel on Tuesday as tensions in the Middle East and
North Africa balanced ample supply in the Atlantic basin.

“The market is stable because of a combination of two
things. On the one hand you see geopolitical tensions … but on
the other hand you see maintenance from refineries and enough
supply,” said Hans van Cleef, senior energy economist at ABN
Amro in Amsterdam.

Aug 4, 2014

Oil steadies around $105 but surplus still weighs

LONDON, Aug 4 (Reuters) – Brent crude oil steadied around
$105 a barrel on Monday as worries about global oversupply
outweighed concerns over escalating violence in North Africa and
the Middle East.

A supply glut in West African and Atlantic markets dragged
Brent down 3.3 percent last week, despite geopolitical tensions
in Iraq, Libya and Ukraine that could disrupt oil production in
the future.

Aug 1, 2014

Oil slips below $106 on oversupply, weak demand

LONDON, Aug 1 (Reuters) – Brent crude oil fell below $106 a
barrel on Friday as oversupply in the Atlantic basin and low
demand outweighed worries over political tensions in the Middle
East, North Africa and Ukraine.

Analysts says they expect global oil production to exceed
demand this year and a supply glut has already built up in
Africa and Europe.

Jul 31, 2014

Oil slips below $106 on increased supply, low demand

LONDON, July 31 (Reuters) – Brent crude slipped below $106 a
barrel on Thursday as higher OPEC output and disappointing
demand in the United States outweighed tensions in the Middle
East, Africa and Ukraine.

Gasoline stockpiles rose in the United States even though it
is the peak driving season, raising concern over the outlook for
demand in the world’s largest oil consumer.

Jul 30, 2014

Brent steady around $108 in range-bound market

LONDON, July 30 (Reuters) – Brent crude oil steadied around
$108 a barrel on Wednesday in a market that has been range-bound
as ample supplies and political risk offset each other.

While there has been no major disruption to oil supplies due
to tensions in the Middle East, Africa and Europe, fears that
exports could be dented continued to underpin crude prices.

Jul 29, 2014

Oil around $107 as ample supply offsets global unrest

LONDON, July 29 (Reuters) – Brent crude oil steadied around
$107 a barrel on Tuesday as ample supply offset political
tensions in the Middle East, Africa and Europe.

Despite conflicts in Ukraine, Iraq and Libya, global oil
production has exceeded demand, leaving pockets of excess supply
in Africa and Europe.

Jul 17, 2014

UK firm touts one-man flying machine for police and military

FARNBOROUGH, England, July 17 (Reuters) – Once the preserve
of science fiction, a one-man flying machine is now a viable,
cost-effective option for the police and military, according to
UK manufacturer Parajet International.

Paramotors – which require pilots to use a parachute-shaped
glider and a motor-driven propeller strapped to their back -
have been popular among amateur flying enthusiasts and
extreme-sport fanatics for several years.