Correspondent, London
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May 30, 2012

Oil falls on worries over Spain, China

LONDON (Reuters) – Brent crude oil fell on Wednesday, as fears intensified about the future of Spain’s banks, while China signalled it was not planning a large stimulus package, dimming demand prospects.

Oil recovered some losses after the European Commission called for sweeping reforms to restore investor confidence.

May 30, 2012

Oil falls on Spain, China worries

LONDON, May 30 (Reuters) – Brent crude oil fell below $106
per barrel on Wednesday as fears intensified about the future of
Spain’s banks, while China signalled it was not planning a large
stimulus package, dimming demand prospects.

Spain will soon issue new bonds to fund its ailing banks and
indebted regions even while its borrowing costs neared the
unsustainable 7 percent level, which forced other euro zone
countries to seek international aid.

May 28, 2012

Petroplus UK refinery likely to close-PwC

LONDON, May 28 (Reuters) – Insolvent Swiss refiner
Petroplus’ Coryton refinery in the UK is likely to
close after its administrator PricewaterhouseCoopers (PwC) said
on Monday it had failed to find a buyer that could pay $1
billion for the site.

Petroplus, once Europe’s largest independent refiner, filed
for insolvency in December after it could not meet its debt
obligations.

May 25, 2012

Brent crude gains, outlook still negative

LONDON, May 25 (Reuters) – Brent crude oil gained on Friday,
supported by a lack of progress in nuclear negotiations with
Iran, returning to fears over supply if tension over the issue
intensified.

Brent crude rose 57 cents to $107.12 a barrel by
0909 GMT. U.S. crude added 51 cents to $91.17.

May 23, 2012

Oil falls on potential Iran deal, economy concerns

LONDON, May 23 (Reuters) – Oil fell on Wednesday on growing
hopes of a deal between Iran and the U.N. nuclear watchdog,
which eased fears of oil supply disruption, while concerns over
the debt crisis in the euro zone and a slowing Chinese economy
weighed on demand.

The U.N.’s International Atomic Energy Agency expects to
sign a deal with Iran soon to unblock investigations into
suspected work on nuclear bombs in the oil-producing country.

May 22, 2012

WORLD CHEFS: A taste of Venice in London’s east end

LONDON (Reuters) – On the surface the picturesque UNESCO World Heritage site Venice may seem to have little in common with Hackney, a gritty but rapidly regenerating district in east London.

But the similarities appear very clear to Venetian chef Andrea Michelon, who along with compatriot architect Paolo Mozzato and four British and Irish partners, decided to set up their buzzing, bohemian neighbourhood restaurant Ombra.

May 22, 2012

A taste of Venice in London’s east end

LONDON (Reuters) – On the surface the picturesque UNESCO World Heritage site Venice may seem to have little in common with Hackney, a gritty but rapidly regenerating district in east London.

But the similarities appear very clear to Venetian chef Andrea Michelon, who along with compatriot architect Paolo Mozzato and four British and Irish partners, decided to set up their buzzing, bohemian neighborhood restaurant Ombra.

May 17, 2012

Brent falls, Greek fear weighs, US crude gains

LONDON, May 17 (Reuters) – Brent crude oil fell on Thursday,
touching its lowest since the start of January, as investors
avoided riskier assets due to the deepening turmoil in Greece
and fears of contagion spreading to other stressed euro zone
economies.

U.S. crude gained, however, on hopes that reversing flow on
the Seaway oil pipeline would help reduce a supply glut at the
land-locked delivery point at Cushing, Oklahoma.

May 16, 2012

Rescue of U.S. refiners dooms more European rivals

LONDON (Reuters) – Further European oil refineries face likely closure as their prospects of surviving the collapse of parent Petroplus are crushed by reprieves from death row of more profitable U.S. rivals.

Of the five refineries that bankrupt Petroplus (PPHN.S: Quote, Profile, Research, Stock Buzz) owned, Cressier in Switzerland and Antwerp in Belgium have been sold to trading houses Vitol, in a joint venture with private equity house AtlasInvest, and Gunvor.

May 16, 2012

Analysis – Rescue of U.S. refiners dooms more European rivals

LONDON (Reuters) – Further European oil refineries face likely closure as their prospects of surviving the collapse of parent Petroplus are crushed by reprieves from death row of more profitable U.S. rivals.

Of the five refineries that bankrupt Petroplus owned, Cressier in Switzerland and Antwerp in Belgium have been sold to trading houses Vitol, in a joint venture with private equity house AtlasInvest, and Gunvor.

    • 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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