LONDON, Sept 7 (Reuters) – Oil rose on Friday ahead of a
U.S. jobs report which could strengthen the case for more
economic stimulus in the world’s biggest oil consumer.
Brent crude futures rose 26 cents to $113.75 per
barrel by 0842 GMT. U.S. crude rose 35 cents to $95.88.
LONDON, Sept 6 (Reuters) – U.S. bank Citigroup has
launched a commodity trade finance unit, expanding into a sector
once dominated by European lenders who have been shrinking their
activities to cope with the euro zone debt crisis.
Citigroup has hired Kris Van Broekhoven from Deutsche Bank
to lead the new unit, part of its transaction
services business, a spokesman said on Thursday.
LONDON (Reuters) – Brent crude oil reached $107 a barrel on Friday, as investors awaited key U.S. jobs data that could bolster hopes that the Federal Reserve may do more to stimulate the economy.
Brent crude gained $1.10 cents to $107.00 per barrel by 0831 GMT. It was on track for its highest close since July 19. U.S. oil rose 98 cents to $88.11.
LONDON, July 27 (Reuters) – European refiners will
increasingly choose to have oil supply deals with banks to
reduce price volatility risks and ease burdens on working
capital, Barclays said on Friday after its first major
oil supply deal in Europe this week.
“We see more transactions like this for clients looking to
mitigate their capital and commodity risks,” John Eleoterio,
global head of commodities structured origination at Barclays,
LONDON (Reuters) – Brent crude oil gained slightly on Wednesday, as concern about threats to oil supply from the Middle East offset worries about oil demand from the euro zone.
Brent crude added 13 cents to $103.55 a barrel by 0852 GMT while U.S. crude was down 2 cents to $88.48.
LONDON, July 18 (Reuters) – Oil retreated slightly on
Wednesday, snapping five days of gains as U.S. Federal Reserve
Chairman Ben Bernanke offered few signs of further monetary
stimulus and a gloomy view of the economy of the world’s top oil
Brent crude slipped 24 cents to $103.76 a barrel by
0905 GMT, after settling 63 cents higher on Tuesday. U.S. oil
fell 23 cents to $88.99 a barrel after ending up 79
LONDON, July 11 (Reuters) – Crude oil futures firmed on
Wednesday on expectations that there may be more signals of
economic stimulus from the U.S. Federal Reserve when minutes of
its meeting last month are released later in the day.
Market participants were, however, sceptical about the
durability of the gains.
“There may be some optimism on hopes for stimulus for the
Federal Reserve, but the market is well supplied and volumes are
very low, so I think people are just waiting to see,” said Rob
Montefusco, trader at Sucden Financial.
LONDON (Reuters) – Benchmark oil prices fell back below $100 a barrel on Wednesday, after a sharp gain the previous day, as new evidence of grim economic conditions in Europe offset expectations of fresh stimulus measures.
One day after surging more than 3 percent amid one of the biggest commodity-sector rallies ever, August Brent crude fell 91 cents to settle at $99.77 a barrel. NYMEX crude dipped 60 cents to $87.06 a barrel by 1745 GMT, with volumes thinned by the U.S. Independence Day holiday.
LONDON, July 4 (Reuters) – Crude oil prices fell back on
Wednesday as investors’ focus reverted to the grim economic
backdrop and as they took profits after the sharp gains in
Trading was expected to be limited with U.S. markets closed
for the Independence Day holiday, and meetings of European
Central Bank and the Bank of England policy makers on Thursday.
LONDON (Reuters) – When Petroplus went bankrupt early this year, many in the industry thought that at least the Coryton oil refinery in England, the most modern and efficient of its five plants in western Europe, would survive.
So far it is the only one to have closed, doomed by the priorities of UK bankruptcy law, the British government’s laissez faire approach and strategic calculations by trading houses who saw more opportunities from other refinery assets.