LONDON, Feb 7 (Reuters) – Oil reached its highest level
since September on Thursday after the head of the European
Central Bank chief said inflationary pressures were likely to
diminish and due to renewed tensions in the Middle East.
ECB President Mario Draghi said he expected inflation to
fall below 2 percent in coming months and that economic activity
should gradually recover later in 2013.
LONDON, Feb 6 (Reuters) – Brent crude oil futures held above
$116 a barrel on Wednesday, supported by positive economic data
from the United States and Europe which helped boost confidence
in demand outlook.
The vast U.S. services sector extended a three-year run of
growth, while data showing signs of recovery in Europe’s
business activity also helped convince investors that the global
economy was emerging from a slowdown.
LONDON, Jan 30 (Reuters) – Commodities have decisively
broken their lock-step with other assets, which lasted from 2008
to 2012, and now lower volatility and an expected end to central
bank money printing could ensure the correlation does not
The 30-day correlation between the Thomson Reuters-Jefferies
CRB commodities index and the S&P 500 equities index
has slid to 0.24 from 0.7 in late November.
LONDON, Jan 30 (Reuters) – Brent crude oil fell slightly on
Wednesday but held close to a three-month high above $114 a
barrel, underpinned by optimism about the U.S. economy after
data showed a recovery was gaining ground.
Brent cruse oil futures were 20 cents lower at
$114.16 a barrel by 0903 GMT on nerves ahead of a U.S. Federal
Reserve meeting. It had reached $114.57 earlier, its highest
since Oct. 16, 2012. U.S. oil fell 3 cents to $97.54
after gaining nearly 1.2 percent in the previous session.
LONDON (Reuters) – Iraqi Kurdistan said it is negotiating with two or three major international companies to operate oilfields and expects to announce the outcome in about a month, in a move likely to further heighten tensions with Baghdad.
The remarks by Natural Resources Minister Ashti Hawrami on Tuesday highlight the autonomous region’s resolve to push ahead with development of its oil resources independently of the Baghdad-based central government.
LONDON, Jan 23 (Reuters) – Brent crude oil held steady above
$112 a barrel on Wednesday as investors awaited inventory data
from the United States for clues to demand in the world’s
largest oil consumer.
Brent crude was 10 cents up at $112.52 a barrel by
1023 GMT. U.S. crude for March rose 11 cents to $96.79,
off a four-month high of $96.90 hit earlier.
LONDON, Jan 17 (Reuters) – Brent oil futures rose above $110
per barrel on Thursday after Islamist militants attacked an
Algerian gas field and took Western hostages, although concerns
about a weak global economic outlook kept gains in check.
Brent added 32 cents to $110.00 a barrel by 1049
GMT. The February contract, which expired on Wednesday, settled
31 cents higher, while the March contract finished 5 cents up.
U.S. oil rose 23 cents to $94.47.
LONDON, Jan 16 (Reuters) – Brent crude oil rose towards $111
a barrel on Wednesday after robust U.S. retail sales figures
boosted hopes for stronger demand in the world’s top oil
consumer, while oil inventories there rose much less than
Cold weather in Europe and the United States also supported
prices, but gains were limited as weak European data pushed down
other risk-sensitive assets such as equities.
LONDON, Jan 9 (Reuters) – Brent crude oil stayed below $112
per barrel on Wednesday, as a slightly more optimistic outlook
for the global economy was offset by lingering concerns about
Europe and increasing supply from the United States.
Front-month Brent futures shed 11 cents to $111.83
per barrel at 0932 GMT, after adding 54 cents on Tuesday. U.S.
crude was trading down 10 cents at $93.05 per barrel.
LONDON, Dec 19 (Reuters) – Brent oil rose above $109 a
barrel on Wednesday on expectations that a budget crisis in the
United States will be resolved, which would save the world’s top
oil consumer from slipping into recession.
World shares rose to 17-month highs, and the euro gained on
growing investor confidence that a U.S. pact on spending and
taxes will be reached before a year-end deadline.