Correspondent, London
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Aug 3, 2012

Brent crude up as U.S. payrolls awaited

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.

Jul 27, 2012

Barclays sees more oil supply deals after Essar

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,
told Reuters.

Jul 25, 2012

Brent steady, Middle East strife offsets Europe gloom

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.

Jul 18, 2012

Oil eases on Fed economy outlook

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
consumer.

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
cents.

Jul 11, 2012

Oil up on weak dollar ahead of Fed minutes

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.

Jul 4, 2012

Oil slides below $100, focus on grim economy

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.

Jul 4, 2012

Oil retreats after sharp gains

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
previous sessions.

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.

Jun 28, 2012

Corrected: UK insolvency law seals fate of Coryton refinery

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.

Jun 28, 2012

Brent oil falls on euro zone worry

LONDON, June 28 (Reuters) – Brent crude oil slipped on
Thursday, as investors waited for the outcome of a euro zone
summit that many expected would do little to address a festering
debt crisis in the continent.

Brent crude oil futures for August fell 74 cents to
$93.76 by 1337 GMT after reaching the day’s low of $92.41 per
barrel. U.S. crude slipped 59 cents to $79.62.

Jun 27, 2012

Oil above $93 on Norway strike, U.S. supply drop

LONDON (Reuters) – Oil gained on Wednesday supported by tighter North Sea oil supply, while strong U.S. data also bolstered the demand outlook, offsetting concern European leaders would fail to solve the region’s debt crisis at a meeting this week.

Demand for long-lasting U.S. manufactured goods rebounded more than expected in May and a gauge of business spending plans increased, improving a demand picture that had been dimmed by weak data from Europe.

    • 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."
      Joined Reuters:
      2007
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