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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)

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.

Apr 14, 2014

Oil rises above $108 as Ukraine tension escalates

LONDON, April 14 (Reuters) – Oil rose above $108 a barrel on
Monday, on concern that escalating tension between Russia and
Ukraine could lead to supply disruption.

Towns in eastern Ukraine on Monday braced for military
action from government forces as a deadline passed for
pro-Russian separatists to disarm and end their occupation of
state buildings or face a major “anti-terrorist” operation.

Apr 3, 2014

Murphy says UK refinery could close after deal collapses

LONDON, April 3 (Reuters) – Murphy Oil told staff on
Thursday it could be forced to close its loss-making Milford
Haven refinery in Wales after exclusive talks with a private
equity firm collapsed.

The Arkansas-based oil company’ UK subsidiary Murco said it
had started 45 days of consultation with employees and their
representatives on the future of the loss-making 135,000 barrels
per day refinery.

Mar 27, 2014

Exclusive: Murphy Oil nears $500 million sale of UK refining assets

LONDON (Reuters) – Murphy Oil (MUR.N: Quote, Profile, Research, Stock Buzz) is ready to exit British refining next month with the sale of its Milford Haven plant and retail assets to private equity fund Greybull Capital for over $500 million, sources close to the talks told Reuters.

Murco, a Murphy Oil subsidiary, is expected to sell its 135,000 barrels-per-day (bpd) refinery in Wales, oil inventories, storage facilities and hundreds of petrol stations across Britain, the sources said.

Mar 27, 2014

Oil rises towards $108, supply worries underpin prices

LONDON, March 27 (Reuters) – Brent crude oil rose towards
$108 a barrel on Thursday, supported by worries about potential
supply disruption due to the possibility of Western sanctions on
Russia’s energy sector.

The United States and the European Union agreed on Wednesday
to work together on preparing possible further economic
sanctions in response to Russia’s actions in Ukraine and to make
Europe less dependent on Russian gas.

    • 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."
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