Correspondent, London
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Feb 18, 2014

Britain’s Stanlow refinery to cut capacity by a third

LONDON, Feb 18 (Reuters) – Britain’s second-largest oil
refinery will shutter one third of its production capacity, its
owner said on Tuesday, in further evidence of losses forcing
closures across the struggling European industry.

Essar Energy Plc said its Stanlow refinery in
northwest England will shrink its output capacity to around
195,000 barrels-per-day (bpd) from 296,000 bpd after it
mothballs a crude distillation unit by October.

Feb 7, 2014

Brent oil rises towards $108 on U.S. growth hopes

LONDON, Feb 7 (Reuters) – Brent crude rose towards $108 a
barrel on Friday after a fall in the U.S jobless rate fuelled
hopes for stronger demand in the world’s top oil consumer.

The U.S. unemployment rate hit a new five-year low of 6.6
percent in January, down from 6.7 percent in December, the Labor
Department said, despite a lower-than-expected gain in hiring.

Feb 7, 2014

Oil slips to $107 on weak U.S. employment data

LONDON, Feb 7 (Reuters) – Brent crude oil slipped to around
$107 a barrel on Friday as U.S. jobs data raised concern about
prospects for demand growth for the world’s top oil consumer.

U.S. employers hired far fewer workers than expected in
January and job gains for the prior month were barely revised
up, suggesting a loss of momentum in the economy, even as the
unemployment rate hit a new five-year low of 6.6 percent.

Jan 30, 2014

Oil lifted by cold weather, Fed trimming caps gains

LONDON, Jan 30 (Reuters) – Brent oil rose to $108 per barrel
on Thursday as bitter cold in the United States boosted heating
oil demand, though prices were capped by weak Chinese economic
data and the U.S. Federal Reserve’s move to trim its monetary
stimulus.

Brent crude was up 18 cents to $108.03 a barrel as
of 0922 GMT, after settling 44 cents higher the previous day.

Jan 21, 2014

Oil rises over $107, IEA says demand to outstrip supply

LONDON, Jan 21 (Reuters) – Oil rose above $107 a barrel on
Tuesday as the International Energy Agency raised its forecast
for global oil demand this year, citing accelerating economic
growth that would outstrip supply.

The West’s energy watchdog said world oil consumption would
increase by 1.3 million barrels per day (bpd) this year, 50,000
bpd higher than it previously predicted.

Jan 13, 2014

Oil falls below $107 on Iran nuclear deal

LONDON, Jan 13 (Reuters) – Oil fell below $107 a barrel on
Monday after six major powers struck a fresh six-month deal with
Iran to curb its nuclear programme, but losses were limited by
problems at a key North Sea field.

Brent crude for February delivery was down 32 cents
at $106.93 per barrel at 0932 GMT. The contract had settled 86
cents higher on Friday. U.S. crude slipped 43 cents to
$92.29 per barrel, after closing $1.06 higher on Friday.

Jan 9, 2014

Oil rises above $108 on as caution on Libya prevails

LONDON, Jan 9 (Reuters) – Oil rose above $108 a barrel on
Thursday, as caution prevailed on prospects for a solution to
Libya’s oil export deadlock, and traders cited production
problems at a key North Sea oil field.

Brent crude oil was also lifted after traders said output at
Britain’s Buzzard oilfield in the North Sea fell on Wednesday.

Jan 9, 2014

Oil up towards $108 on as caution on Libya prevails

LONDON, Jan 9 (Reuters) – Oil rose towards $108 a barrel on
Thursday, as caution prevailed on prospects for a solution to
Libya’s oil exports deadlock.

Brent crude for February delivery was 43 cents
higher at $107.58 per barrel at 0913 GMT, after settling 20
cents lower.

Dec 27, 2013

Euro hits two-year high as banks shore up balance sheets

LONDON (Reuters) – The euro jumped to its strongest level against the dollar in more than two years on Friday as banks adjusted positions for the year end.

The European Central Bank will take a snapshot of the capital positions of the region’s banks at the end of 2013 for an asset-quality review (AQR) next year to work out which of them will need fresh funds.

Dec 27, 2013

Euro lifted as banks look to shore up balance sheets

LONDON, Dec 27 (Reuters) – The euro pushed towards a
two-month high against the dollar on Friday as banks adjusted
positions ahead of the year end.

The European Central Bank is conducting an asset-quality
review (AQR) which could show that banks require more capital,
and which will take a snap-shot at year-end 2013, and this has
led to some demand for euros to help shore up their balance
sheets, traders said.

    • 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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