Home / Tag Archives: London

Tag Archives: London

U.S. crude oil steadies from six-and-a-half-year low

LONDON (Reuters) – U.S. crude oil steadied on Friday after falling to its lowest in almost 6-1/2 years as huge stockpiles and refinery shutdowns heightened concerns about global oversupply. Oil had already tumbled more than 3 percent on Thursday, driven by a report that stocks at Cushing, Oklahoma, the delivery point for U.S. crude futures, rose more than 1.3 million ...

Read More »

Oil industry frets about another lost decade: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Oil is an inherently cyclical business. The point is remarkably simple but it is amazing how often it gets forgotten by forecasters and investors. In the century and a half since the modern oil industry was founded with the drilling of Edwin Drake’s well in ...

Read More »

U.S. oil storage becomes big business: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Commercial crude stocks across the United States rose by 105 million barrels early this year to peak at 490 million barrels, the highest level in eight decades. Despite some draw downs in recent weeks, which have reduced inventories to 460 million barrels, stocks are still ...

Read More »

Hedge funds turn unusually bearish on oil: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Hedge funds and other money managers have rarely been so bearish about the outlook for oil prices, according to the latest positioning data from the U.S. Commodity Futures Trading Commission. Hedge funds boosted short positions in futures and options linked to the price of U.S. ...

Read More »