Correspondent, London
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Feb 13, 2013

Oil slips after IEA demand outlook cut tempers optimism

LONDON, Feb 13 (Reuters) – Oil fell slightly on Wednesday,
after the International Energy Agency (IEA) cut its demand
outlook, tempering optimism on the global economy which helped
push oil to its highest in nine months last week.

A cut in the demand outlook from the IEA of 90,000 barrels
per day saw oil retreat from the day’s high after Tuesday’s more
bullish reports from the U.S. Energy Information Administration
(EIA) and Organization of the Petroleum Exporting Countries.

Feb 8, 2013

Nigeria oil, gas outages dent its supply status

LONDON/ABUJA Feb 8 (Reuters) – Nigeria’s latest oil and gas
outages have further dented its reputation as a reliable energy
supplier, at a time when demand for imports is falling in the
United States and Asia has an increasing choice of suppliers.

Exxon warned customers of supply disruptions from
Nigeria’s biggest oil stream Qua Iboe on Thursday and Shell
said gas supplies to one of the world’s largest
Liquefied Natural Gas terminals would be delayed, both due to
pipeline damage.

Feb 7, 2013

Oil rises towards $118 after ECB meeting

LONDON, Feb 7 (Reuters) – Oil reached its highest level
since September on Thursday after the head of the European
Central Bank chief said inflationary pressures were likely to
diminish and due to renewed tensions in the Middle East.

ECB President Mario Draghi said he expected inflation to
fall below 2 percent in coming months and that economic activity
should gradually recover later in 2013.

Feb 6, 2013

Oil holds above $116 on economic optimism

LONDON, Feb 6 (Reuters) – Brent crude oil futures held above
$116 a barrel on Wednesday, supported by positive economic data
from the United States and Europe which helped boost confidence
in demand outlook.

The vast U.S. services sector extended a three-year run of
growth, while data showing signs of recovery in Europe’s
business activity also helped convince investors that the global
economy was emerging from a slowdown.

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.

    • 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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