Correspondent, London
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Jun 17, 2014

Oil flat as Iran relations thaw offsets Iraq fears

LONDON, June 17 (Reuters) – Oil was steady at around $113
per barrel on Tuesday, as signs of a thaw in relations between
Iran and the West offset fears that Iraqi exports could be hit
by spreading violence in OPEC’s second-biggest oil exporter.

Scores of Iraqis were killed on Tuesday during a battle for
a provincial capital, and fighting shut the main oil refinery,
starving parts of the country of fuel and power as an uprising
by Sunni insurgents threatened Iraq’s survival as a state.

Jun 17, 2014

Oil eases on Iran relations but supply concerns persist

LONDON (Reuters) – Oil futures fell towards $112 per barrel on Tuesday, pressured by signs of a thaw in relations between Iran and the West although market players saw scope for gains if violence in Iraq threatened production from OPEC’s second-biggest producer.

Islamic militants have seized towns in the north of the country in the past week, although Iraq’s 3.3 million barrels per day of oil exports remain unaffected so far.

Jun 17, 2014

Oil rally pauses on profit taking, supply concern persists

LONDON, June 17 (Reuters) – Oil futures dipped towards $112
per barrel on Tuesday, with investors booking profits after a
rapid spike in prices, but
market players saw scope for further gains if violence in Iraq
threatened production from OPEC’s second-biggest producer.

Islamic militants have seized towns in the north of the
country in the past week, although Iraq’s 3.3 million barrels
per day of oil exports remain unaffected so far.

Jun 11, 2014

Oil climbs to $110 on Iraq supply disruption fears

LONDON, June 11 (Reuters) – Oil futures rose to $110 a
barrel on Wednesday as violence in Iraq prompted worries about
the supply outlook, while a fall in U.S. stockpiles of gasoline
pointed to stronger seasonal demand.

Brent futures gained 49 cents to $110.01 a barrel by
1351 GMT, after shedding 0.4 percent in the previous session.

Jun 11, 2014

Oil hits $110 per barrel on Iraq supply disruption fears

LONDON, June 11 (Reuters) – Oil futures rose to $110 a
barrel on Wednesday as violence in Iraq prompted worries about
the supply outlook, while a fall in U.S. stockpiles of gasoline
pointed to seasonally stronger demand.

Brent futures gained 48 cents to $110.00 a barrel by
0828 GMT, after shedding 0.4 percent in the previous session.

Jun 5, 2014

Oil falls to 3-week low under $108 on hopes for Ukraine talks

LONDON, June 5 (Reuters) – Oil fell to a three-week low
below $108 a barrel on Thursday as worries about risks to supply
caused by violence in Ukraine eased on hopes that talks could
resolve the situation.

Ample supply in top oil consumer the United States has also
dragged down prices, with Brent crude on its longest losing
streak since the start of the year.

Jun 3, 2014

Shortfall in Middle East oil investment could push up prices -IEA

LONDON, June 3 (Reuters) – A potential shortfall in
investment in production in the Middle East could create a $15
increase in the oil price by 2025, the energy arm of the
Organisation for Economic Cooperation and Development (OECD)
said.

The world will need to invest $40 trillion in energy supply
and $8 trillion on energy efficiency by 2035 to meet growing
demand and falling output from mature sources of energy, the
International Energy Agency (IEA) said in a report

May 19, 2014

Murphy Oil UK head to pursue buyout of refinery -source

LONDON, May 19 (Reuters) – The head of Murphy’s Oil UK
operations has stepped aside to pursue the acquisition of the
company’s ailing Milford Haven refinery and retail business, a
source close to the company said on Monday.

Murco, Murphy’s British subsidiary, has been engaged for
months in talks with several parties on the sale of the 135,000
barrels-per-day refinery and its assets.

May 16, 2014

Citi builds commodity trade finance as others retreat

LONDON, May 16 (Reuters) – Citigroup plans to double
its commodities trade finance team within the next three years
as it seeks to benefit from a retreat by some rival banks, the
head of the business said.

Citigroup is one of the biggest players in trade finance but
has been relatively small in the specific area of commodities
trading. It started building a commodities trade finance team to
focus on the sector in 2012.

Apr 29, 2014

Oil rebounds towards $109 although sanctions response muted

LONDON, April 29 (Reuters) – Oil rebounded towards $109 a
barrel on Tuesday a day after prospects of a return of Libyan
supply prompted its biggest daily fall in nearly a month
although investors showed muted response to more U.S. sanctions
on Russia.

Libya’s National Oil Corp (NOC) said on Monday it planned to
lift force majeure from the eastern oil port of Zueitina,
offering hope of a restart to exports at a second port after a
deal with rebels.

    • 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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