Deputy EIC, Commodities & Energy, Asia, Singapore
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May 27, 2011

JPMorgan Asia targets growth in energy, metals trade

SINGAPORE (Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) plans to expand its physical trading activity in China’s oil market, Indonesia’s coal sector and across Asian metals to cash in on what it sees as a long-term bull market, the head of the bank’s Asian commodities unit said.

Despite a sharp fall in commodities prices in the first-half of May, JPMorgan is bullish on the sector’s future prospects as developing economies consume more raw materials, said Ray Eyles, chief executive of the bank’s Asian commodities business.

Mar 9, 2011

Analysis: Oil over $100 pressures Asia to cut subsidies

SINGAPORE (Reuters) – High oil prices are straining the coffers of Asian governments, forcing them to contemplate rolling back fuel subsidies despite the political cost amid rampant food inflation, and even though the move risks hurting demand.

International benchmark oil prices have rallied to 2-1/2 year highs above $100 a barrel as revolt cut output from OPEC-member Libya and protests across the Middle East and North Africa threaten to disrupt more of the flow from the world’s top oil-producing region.

Mar 9, 2011

Oil over $100 pressures Asia to cut subsidies

SINGAPORE (Reuters) – High oil prices are straining the coffers of Asian governments, forcing them to contemplate rolling back fuel subsidies despite the political cost amid rampant food inflation, and even though the move risks hurting demand.

International benchmark oil prices have rallied to 2-1/2 year highs above $100 a barrel as revolt cut output from OPEC-member Libya and protests across the Middle East and North Africa threaten to disrupt more of the flow from the world’s top oil-producing region.

Nov 2, 2010

Saudi’s Naimi shifts up to $70-$90 price range

SINGAPORE (Reuters) – Top oil exporter Saudi Arabia on Monday shifted upwards from a price it has backed for around two years, saying oil at between $70 and $90 a barrel was comfortable for consumers.

Until now, Saudi Oil Minister Ali al-Naimi had said the ideal range for producers and consumers was $70-$80 a barrel, either side of the $75 identified by the kingdom in November 2008.

Nov 1, 2010

Saudi’s Naimi shifts price range up to $70-$90

SINGAPORE, Nov 1 (Reuters) – An oil price between $70 and
$90 a barrel is a comfortable range for consumers, Saudi Oil
Minister Ali al-Naimi said on Monday, marking a step up from his
earlier statements $70-to-$80 was ideal.

International benchmark U.S. crude CLc1 has been
rangebound for much of this year, but prices have rallied over
the last month, largely in response to a weak U.S. dollar.

Sep 13, 2010

Saudi’s Naimi, from office boy to top oil min

LONDON/SINGAPORE (Reuters) – Saudi Arabian Oil Minister Ali al-Naimi helped to calm a record price rally, halt a record crash and restore OPEC’s damaged credibility.

Repeated rumors the 75-year-old minister plans to retire from the top of the world’s most powerful oil ministry have so far proved unfounded.

Aug 13, 2010

Gold hits 4-week high on cloudy outlook

SINGAPORE (Reuters) – Gold touched a four-week high on Friday, extending gains from the previous day as investors bought the precious metal and shied away from riskier assets on concern about the health of the global economy.

Fresh U.S. data that would give further pointers to the health of the world’s largest economy could push gold even higher, after unemployment data on Thursday spurred safe-haven demand for gold and the dollar.

Jul 14, 2010

Sanctions tighten pressure on Iran’s oil industry

DUBAI (Reuters) – A new round of U.S. and European sanctions targets Iran’s dilapidated oil sector from top to bottom, making it even more difficult to maintain output capacity and domestic supplies of fuel.

The United States, seeking to halt Tehran’s nuclear enrichment activities, passed unilateral sanctions earlier this month that for the first time allow it to punish the U.S. operations of international firms who supply fuel to Iran.

Jul 8, 2010

Iran relies on friendly powers for fuel supplies

DUBAI (Reuters) – Iran is depending more on friendly powers in the international arena for fuel supplies after the U.S. passed far-reaching sanctions a week ago that aim to hinder Tehran’s fuel imports and deepen its international isolation.

The Islamic Republic is buying around half of its July gasoline imports from Turkey and the rest from Chinese sellers, oil traders said on Thursday, as most other suppliers have stopped selling due to the U.S. sanctions.

Jul 8, 2010

Iran buys gasoline from Turkey, Chinese sellers

DUBAI, July 8 (Reuters) – Iran is buying around half of its
gasoline imports from Turkey and the rest from Chinese sellers,
oil traders said on Thursday, as most other suppliers have
stopped selling due to U.S. sanctions.

Iran is depending more on those that support it in the
international arena for fuel supplies after U.S. President
Barack Obama signed into law far-reaching sanctions a week ago
that aim to hinder Tehran’s fuel imports and deepen its
international isolation.

    • About Simon

      "I am the deputy editor for commodities and energy news in Asia. I help drive our coverage throughout the region from the Singapore C&E desk. Until mid-2010, I was the Senior Energy Correspondent in the Middle East, based in Dubai. I have also covered oil markets for Reuters in London."
      Joined Reuters:
      2004
      Languages:
      English, Spanish
      Awards:
      Reuters C&E Journalist of the Year 2009
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