Correspondent, London
Simon's Feed
Jun 27, 2013

Oil up as fears of stimulus pull-back fade

LONDON, June 27 (Reuters) – Brent crude oil rose for a
fourth session on Thursday to above $102 a barrel, supported as
investor conviction strengthened that monetary stimulus from
major central banks would stay in place for the time being.

Brent crude for August delivery rose 44 cents to
$102.10 a barrel by 0841 GMT, after settling 40 cents higher at
$101.66 a barrel in the previous session.

Jun 19, 2013

Oil gains on lower US stockpile, all eyes on Fed

LONDON, June 19 (Reuters) – Oil prices rose slightly on
Wednesday as investors looked to a meeting of the U.S. Federal
Reserve for clues on the outlook for its stimulus programme that
has underpinned commodity prices.

Violence in the Middle East and lower oil stockpiles in the
United States supported prices.

Jun 11, 2013

Phillips 66 to sell Ireland’s sole refinery

NEW YORK/LONDON June 11 (Reuters) – Phillips 66 said
on Tuesday it is to sell Ireland’s only refinery, another blow
to Europe’s ailing oil refining industry.

An analyst said it was likely the 71,000 barrels per day
Whitegate facility in Cork would have to shut as it will be hard
to find buyers for it.

Jun 4, 2013

Weak data pushes oil below $102 per barrel

LONDON, June 4 (Reuters) – Brent crude futures slipped below
$102 a barrel on Tuesday as weak U.S. manufacturing data from
the day before stoked worries about demand growth in the world’s
biggest oil consumer.

But the data curbed speculation that the U.S. Federal
Reserve will soon rein in its monthly $85-billion bond-buying
stimulus, boosting other assets and limiting oil’s losses.

May 29, 2013

Oil slips back on economy uncertainty

LONDON, May 29 (Reuters) – Brent crude oil futures retreated
on Wednesday, on worries that the Federal Reserve could phase
out its stimulus package, and an uncertain demand outlook for
the global economy following weak growth forecasts for China.

Upbeat U.S. housing and consumer confidence data sparked
expectations of improved demand from the world’s top consumer
and saw prices rise sharply the previous session.

May 22, 2013

Oil slips to $103 on U.S. demand worries

LONDON, May 22 (Reuters) – Brent crude oil dropped to $103
per barrel on Wednesday, after data showing a surprise jump in
U.S. gasoline stockpiles sparked worries that summer demand in
the world’s top oil consumer could be weaker than expected.

The U.S. Energy Information Administration said that
gasoline inventories rose by 3 million barrels last week,
suggesting the U.S. domestic fuel market was well supplied for
the peak driving season, in line with data from the American
Petroleum Institute on Tuesday.

May 21, 2013

Oil falls on concern about Federal Reserve direction

LONDON, May 21 (Reuters) – Brent oil futures fell towards
$104 per barrel on Tuesday on concerns that the U.S. Federal
Reserve might scale back its quantitative easing programme,
which could damage fragile demand.

Comments by Fed officials and upbeat U.S. data last week
fuelled speculation the central bank might start to reduce its
bond purchases this year.

May 17, 2013

Oil price probe widens, senator wants Justice Department help

LONDON/WASHINGTON (Reuters) – A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the investigation.

Dutch trading house Argos Energies, a mid-sized trading company that deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday, a source familiar with the investigation said on Friday.

May 17, 2013

Oil price probe widens to include Dutch trading house

LONDON, May 17 (Reuters) – The European Commission
investigation into possible oil price manipulation extended
beyond three major companies to a smaller niche trading house,
while a Finnish refinery said it had been asked for information.

Dutch trading house Argos Energies is being investigated by
the European authorities, a source familiar with the
investigation said on Friday.

May 14, 2013

Traders seen gaining control of Europe’s fuel as refiners close

LONDON (Reuters) – Oil trading houses are poised to gain more control of Europe’s fuel supply as its refiners close, and the shutdowns could have a significant impact on prices and energy security, the West’s energy agency said on Tuesday.

The International Energy Agency foresees a seismic shift in global refining as countries such as India and Saudi Arabia build new capacity.

    • 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:
    • Follow Simon