Correspondent, London
Simon's Feed
Oct 3, 2012

Oil falls as economic data dims demand outlook

LONDON, Oct 3 (Reuters) – Crude oil prices fell on
Wednesday, as weak data from Europe and China dimmed the outlook
for demand, while Europe’s festering debt crisis added to the

Brent November crude futures had fallen 90 cents to
$110.67 a barrel by 0830 GMT. They ended Tuesday below two
critical technical levels — the 50-day moving average at
$112.06 and the 200-day moving average at $112.09.

Sep 19, 2012

Oil rises as Japan also opens monetary taps

LONDON (Reuters) – Brent crude oil prices rose on Wednesday after Japan’s central bank became the latest country to further open the monetary taps to help stimulate its economy.

Following similar action by the U.S. Federal Reserve, Japan, the world’s third biggest oil consumer said it would boost asset purchases in the face of a slowing global economy, spurring hopes that other central banks would follow suit.

Sep 12, 2012

Oil gains on euro zone bailout, Fed hopes

LONDON (Reuters) – Brent crude oil rose for a fifth straight session on Wednesday, lifted by a German court decision in favor of a euro zone bailout fund and hopes the Federal Reserve will ease monetary policy this week.

Brent crude for October delivery, which expires on Thursday, was up 68 cents at $116.08 a barrel by 0853 GMT. It was on track for its highest close since Aug 16.

Sep 7, 2012

Brent gains ahead of U.S. jobs data

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.

Sep 6, 2012

Citigroup launches commodity trade finance business

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.

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

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

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.

    • 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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