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May 9, 2011

What really triggered oil’s greatest rout

NEW YORK (Reuters) – When oil prices fell below $120 a barrel in early New York trade last Thursday, a few big companies that are major oil consumers started buying around $117.

It looked like a bargain. Brent crude had been trading above $120 for a month. But the buying proved ill-timed. Crude kept on falling.

May 9, 2011

Special report: What really triggered oil’s greatest rout

NEW YORK, May 9 (Reuters) – When oil prices fell below $120 a barrel in early New York trade last Thursday, a few big companies that are major oil consumers started buying around $117.

It looked like a bargain. Brent crude had been trading above $120 for a month. But the buying proved ill-timed. Crude kept on falling.

May 5, 2011

Roubini directs clients to cut commodities exposure

NEW YORK (Reuters) – Roubini Global Economics, a major investment advisory firm, told clients on Thursday they should take profits from commodities markets, cutting exposure to raw goods to neutral from overweight, the firm’s head commodities strategist told Reuters.

In a note to clients, the New York-based consultant to hedge funds, private equity houses, sovereign wealth funds and other investors advised paring broad commodities exposure for the first time since at least mid-2010.

May 4, 2011

Analysis: Drivers go from rage to resignation over $4 gasoline

NEW YORK (Reuters) – When gasoline prices shot to $4 a gallon in 2008, sticker shock cut fuel demand and helped send world oil prices tumbling by more than $100 a barrel in just five months.

Pump prices have returned to near those highs, averaging $3.95 a gallon after rising 36 percent in a year. Oil has also soared, with Brent trading just over $122 a barrel and U.S. crude over $110.

May 4, 2011

Americans go from rage to resignation over $4 gasoline

NEW YORK (Reuters) – When U.S. gasoline prices shot to $4 a gallon in 2008, sticker shock cut fuel demand and helped send world oil prices tumbling by more than $100 a barrel in just five months.

Pump prices have returned to near those highs, averaging $3.95 a gallon after rising 36 percent in a year. Oil has also soared, with Brent trading above $122 a barrel.

May 4, 2011

Analysis: Americans go from rage to resignation over $4 gasoline

NEW YORK (Reuters) – When U.S. gasoline prices shot to $4 a gallon in 2008, sticker shock cut fuel demand and helped send world oil prices tumbling by more than $100 a barrel in just five months.

Pump prices have returned to near those highs, averaging $3.95 a gallon after rising 36 percent in a year. Oil has also soared, with Brent trading above $122 a barrel.

Apr 15, 2011

Oil rises on rosier consumer sentiment, China

NEW YORK (Reuters) – Oil rose on Friday, with Brent crude surging past $123 a barrel, as improving U.S. consumer confidence and industrial production eased concerns about rising fuel costs.

Concerns about the impact of surging fuel on the economic recovery and cons hit prices earlier in the week, knocking Brent off 32-month highs. It had risen over $126 a barrel on expectations the conflict in Libya would lead to a prolonged disruption of the OPEC nation’s supplies.

Apr 7, 2011

Oil to soar above $130 later in 2011

NEW YORK/LONDON (Reuters) – Oil prices will soar above $130 a barrel by late 2011, a new Reuters poll found, and one in five traders said they expected oil to hit $150 this year, levels some economists say could trigger recession.

With no end in sight to the unrest in the Middle East and North Africa, the majority of the 32 major oil traders, bank analysts and hedge fund managers surveyed by Reuters since Monday said they expect oil prices to resume their climb later

Apr 6, 2011

Oil to soar above $130 later in 2011: Reuters poll

NEW YORK/LONDON (Reuters) – Oil prices will soar above $130 a barrel by late 2011, a new Reuters poll found, and one in five traders said they expected oil to hit $150 this year, levels some economists say could trigger recession.

With no end in sight to the unrest in the Middle East and North Africa, the majority of the 32 major oil traders, bank analysts and hedge fund managers surveyed by Reuters since Monday said they expect oil prices to resume their climb later this year after a short-term retreat.

Apr 6, 2011

Oil surge to $123 seen stalling, but not for long: poll

NEW YORK/LONDON (Reuters) – Brent oil’s four-day rally above $120 a barrel will soon fizzle out, a majority of traders and analysts say. But it will roar back above $130 a barrel in the second half of this year, with no end in sight to the unrest in the Middle East and North Africa.

That’s the scenario most commonly foreseen by 32 major oil traders, bank analysts and hedge fund managers surveyed by Reuters since Monday in a poll launched after Brent jumped above $120 a barrel for the first time since 2008, rising almost $8 over the past five days.