Correspondent, London
Simon's Feed
Mar 14, 2014

European, African oil flows to US as arbitrage re-opens

LONDON/NEW YORK, March 14 (Reuters) – U.S. imports of West
African and European crude are recovering once again after
shifting arbitrage economics made these shipments cheaper than
railed Bakken oil from North Dakota.

This week, BP booked a cargo of Norwegian crude oil to be
shipped to Philadelphia later in March, while another vessel of
North Sea crude oil was booked by Total to go to the Caribbean.

Mar 13, 2014

Shell says Nigerian oil theft costs billions

LONDON, March 13 (Reuters) – Royal Dutch Shell lost
nearly $1 billion through theft and various disruptions to its
Nigerian oil and liquefied natural gas (LNG) operations in 2013
and said that rampant oil theft is costing the country even
more.

The Anglo Dutch company, updating investors on its strategy,
also said that proposed Nigerian legislation had curbed
investment, hindering production, while security is a daily
challenge and oil theft “very material”.

Mar 13, 2014

Oil flat around $108; China data offsets supply worry

LONDON, March 13 (Reuters) – Oil held near $108 a barrel on
Thursday as weaker-than-expected Chinese economic data offset
worries about disruption of supply prompted by the stand-off
between Russia and Western powers over Ukraine.

Brent crude was down 24 cents to $107.78 at 1315
GMT, after ending 53 cents down at its lowest in a week. U.S.
crude was down 13 cents to $97.86.

Mar 13, 2014

Oil flat around $108; China data offsets supply jitters

LONDON, March 13 (Reuters) – Oil was steady around $108 a
barrel on Thursday as weaker-than-expected Chinese data offset
supply disruption worries prompted by the ongoing stand-off
between Russia and Western powers over Ukraine.

Brent crude was down 14 cents to $107.88 at 0913
GMT, after ending 53 cents down at its lowest in a week. U.S.
crude fell 5 cents to $97.94.

Mar 4, 2014

Oil falls below $110 as Ukraine worries ease

LONDON, March 4 (Reuters) – Oil fell more than $1 on Tuesday
to below $110 a barrel after President Vladimir Putin recalled
troops to base from military exercises in western Russia near
its borders with Ukraine.

April Brent crude was down $1.47 at $109.73 a barrel
by 0900 GMT. It closed the previous session at its highest since
Dec. 27.

Feb 19, 2014

Supply risks keep Brent above $110, U.S. crude up on cold

LONDON, Feb 19 (Reuters) – Brent oil held above $110 a
barrel on Wednesday, underpinned by geopolitical concerns in
Africa and Venezuela while a fresh bout of freezing weather kept
U.S. crude near a four-month high.

An unusually cold winter in North America has sapped heating
oil supplies in the United States and buoyed prices. Weekly data
due on Thursday should show a 1.8 million barrels drop in
distillates stocks, according to a Reuters poll.

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.

    • 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
    • Follow Simon