Correspondent, London
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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.

Jun 27, 2012

UK insolvency law seals fate of Coryton refinery

LONDON, June 27 (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 27, 2012

Oil falls on Europe anxiety, strike supports

LONDON (Reuters) – Brent crude oil fell on Wednesday on mounting concerns that European leaders would fail to solve the region’s intractable debt crisis at a key meeting this week, offsetting tighter North Sea oil supply.

Brent crude had fallen $1.13 to $91.89 per barrel by 0833 GMT. U.S. crude was down 59 cents at $78.77.

Jun 27, 2012

Rpt-UPDATE 3-Oil falls on Europe anxiety, strike supports

LONDON, June 27 (Reuters) – Brent crude oil fell on
Wednesday on mounting concerns that European leaders would fail
to solve the region’s intractable debt crisis at a key meeting
this week, offsetting tighter North Sea oil supply.

Brent crude had fallen $1.13 to $91.89 per barrel by
0833 GMT. U.S. crude was down 59 cents at $78.77.

Jun 27, 2012

Oil falls on Europe anxiety, oil strike

LONDON (Reuters) – Brent crude oil fell on Wednesday on mounting concerns that European leaders would fail to solve the region’s intractable debt crisis at a key meeting this week, offsetting tighter North Sea oil supply.

Brent crude had fallen $1.13 to $91.89 per barrel by 0833 GMT. U.S. crude was down 59 cents at $78.77.

Jun 20, 2012

Brent oil slips, Europe worries weigh

LONDON (Reuters) – Brent crude oil fell on Wednesday, pinned near 17-month lows, hit by worries over Spain’s high borrowing costs and prospects for global demand growth.

Brent oil for August delivery was down 68 cents at $95.08 per barrel by 0630 EDT. It fell as low as $94.86 earlier, near Tuesday’s trough of $94.44, its lowest since January, 2011.

Jun 20, 2012

Brent hovers below $96, not far off 17-month low; Fed eyed

LONDON (Reuters) – Brent crude oil fell on Wednesday, pinned near 17-month lows, hit by worries over Spain’s high borrowing costs and prospects for global demand growth.

Brent oil for August delivery was down 68 cents at $95.08 per barrel by 0630 EDT. It fell as low as $94.86 earlier, near Tuesday’s trough of $94.44, its lowest since January, 2011.

Jun 15, 2012

Oil up on Greece hopes, Iran eyed

LONDON, June 15 (Reuters) – Oil futures gained on Friday,
supported by hopes that Greece’s pending elections would result
in a government that favours the country’s recently negotiated
bailout and after a report that major central banks stood ready
to help stabilise markets.

Oil reversed earlier losses after the U.S. markets opened,
with traders shrugging off negative consumer sentiment data.

    • 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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