Correspondent, London
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Jan 30, 2013

Divergence in trading of commodities vs stocks likely to last

LONDON, Jan 30 (Reuters) – Commodities have decisively
broken their lock-step with other assets, which lasted from 2008
to 2012, and now lower volatility and an expected end to central
bank money printing could ensure the correlation does not

The 30-day correlation between the Thomson Reuters-Jefferies
CRB commodities index and the S&P 500 equities index
has slid to 0.24 from 0.7 in late November.

Jan 30, 2013

Oil holds near three-month high on U.S. economy optimism

LONDON, Jan 30 (Reuters) – Brent crude oil fell slightly on
Wednesday but held close to a three-month high above $114 a
barrel, underpinned by optimism about the U.S. economy after
data showed a recovery was gaining ground.

Brent cruse oil futures were 20 cents lower at
$114.16 a barrel by 0903 GMT on nerves ahead of a U.S. Federal
Reserve meeting. It had reached $114.57 earlier, its highest
since Oct. 16, 2012. U.S. oil fell 3 cents to $97.54
after gaining nearly 1.2 percent in the previous session.

Jan 29, 2013

Iraqi Kurds woo more oil majors in contest with Baghdad

LONDON (Reuters) – Iraqi Kurdistan said it is negotiating with two or three major international companies to operate oilfields and expects to announce the outcome in about a month, in a move likely to further heighten tensions with Baghdad.

The remarks by Natural Resources Minister Ashti Hawrami on Tuesday highlight the autonomous region’s resolve to push ahead with development of its oil resources independently of the Baghdad-based central government.

Jan 23, 2013

Oil holds firm before US stockpile data

LONDON, Jan 23 (Reuters) – Brent crude oil held steady above
$112 a barrel on Wednesday as investors awaited inventory data
from the United States for clues to demand in the world’s
largest oil consumer.

Brent crude was 10 cents up at $112.52 a barrel by
1023 GMT. U.S. crude for March rose 11 cents to $96.79,
off a four-month high of $96.90 hit earlier.

Jan 17, 2013

Oil up after Algeria attack, spare capacity caps gains

LONDON, Jan 17 (Reuters) – Brent oil futures rose above $110
per barrel on Thursday after Islamist militants attacked an
Algerian gas field and took Western hostages, although concerns
about a weak global economic outlook kept gains in check.

Brent added 32 cents to $110.00 a barrel by 1049
GMT. The February contract, which expired on Wednesday, settled
31 cents higher, while the March contract finished 5 cents up.
U.S. oil rose 23 cents to $94.47.

Jan 16, 2013

Brent up slightly, economy worries cap gains

LONDON, Jan 16 (Reuters) – Brent crude oil rose towards $111
a barrel on Wednesday after robust U.S. retail sales figures
boosted hopes for stronger demand in the world’s top oil
consumer, while oil inventories there rose much less than

Cold weather in Europe and the United States also supported
prices, but gains were limited as weak European data pushed down
other risk-sensitive assets such as equities.

Jan 9, 2013

Oil slips as strong supply offsets economic optimism

LONDON, Jan 9 (Reuters) – Brent crude oil stayed below $112
per barrel on Wednesday, as a slightly more optimistic outlook
for the global economy was offset by lingering concerns about
Europe and increasing supply from the United States.

Front-month Brent futures shed 11 cents to $111.83
per barrel at 0932 GMT, after adding 54 cents on Tuesday. U.S.
crude was trading down 10 cents at $93.05 per barrel.

Dec 19, 2012

Oil rises above $109 on hopes of US budget solution

LONDON, Dec 19 (Reuters) – Brent oil rose above $109 a
barrel on Wednesday on expectations that a budget crisis in the
United States will be resolved, which would save the world’s top
oil consumer from slipping into recession.

World shares rose to 17-month highs, and the euro gained on
growing investor confidence that a U.S. pact on spending and
taxes will be reached before a year-end deadline.

Dec 12, 2012

Deutsche commodities head to leave, power desk hit hard

LONDON, Dec 12 (Reuters) – Deutsche Bank will
make steep staff cuts at its U.S. and European power and gas
trading desks, with the departures of dozens of traders and its
global head of commodities, David Silbert.

Several sources close to the situation said on Wednesday
the bank was shrinking the workforce as part of an earlier
announced plan to chop 1,500 positions in corporate banking to
save billions of euros amid a profit slump due to the euro zone

Dec 5, 2012

Brent rises above $110 on China growth hopes

LONDON Dec 5 (Reuters) – Brent crude oil rose above $110 a
barrel on Wednesday after two sessions of losses, as investors
switched their focus from fears of a U.S. fiscal crisis to hopes
that growth in top energy consumer China will pick up sooner
than expected.

Front-month Brent futures traded 48 cents higher at
$110.32 by 0928 GMT, after losing nearly 1 percent in the
previous session. U.S. crude added 42 cents to $88.92.

    • About Simon

      "I am a senior correspondent at Reuters in London, working on the energy desk covering the oil market, both physical and futures, with a particular focus on oil products. I have been at Reuters since January 2007, and did stints on the foreign exchange and stockmarkets desk before moving to commodities. I sometimes write lifestyle pieces, and have a particular interest in food and literature."
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