SINGAPORE, March 12 (Reuters) - More than half of a South Korea-based marine fuel trading team taken on by Swiss trading house Mercuria following the collapse of OW Bunker has left after just over three months, two trading sources said on Thursday. The nine traders who have left are now in talks to join World Fuel Services, the largest marine fuel trader in South Korea after … [Read more...]
CFTC Shows US Commodity Manipulation Laws Have Teeth
By John Kemp LONDON, Aug 5 (Reuters) - By extracting a $13 million penalty and imposing tough restrictions on future oil trading by Arcadia and others, the U.S. Commodity Futures Trading Commission (CFTC) this week sent a powerful signal that laws against market manipulation still have teeth. The case challenges a now famous view expressed in 1991 by commodities lawyer … [Read more...]
Repsol To Expand Singapore Crude and Fuel Oil Trading
SINGAPORE, March 27 (Reuters) - Spanish oil group Repsol plans to expand its trading desk in Singapore as it looks to move more crude and fuel oil to Asia to meet growing demand, a company source said. The firm will hire one or two fuel oil traders by year-end to boost its current three-man crude and oil products team, said the source, who declined to be identified as he is … [Read more...]
NGL Traders Are Making Serious Bank Off U.S. Oil Boom
Jan. 24 (Bloomberg) -- Add another profession to the beneficiaries of the U.S. oil boom: traders of long-neglected drilling byproducts such as propane and butane. Traders typically earning less than $400,000 a year will start making as much or more than the average $750,000 earned by traders in larger, more established oil markets, according to Webber Chase Ltd. There are … [Read more...]
LNG Traders Compete for Cargoes as Volumes Drop for Second Year
Nov. 19 (Bloomberg) -- Exports of liquefied natural gas are contracting for a second year, diminishing the number of available cargoes at a time when companies from Vitol Group to Glencore Xstrata Plc are expanding their trading teams. Global exports in the first eight months were 5 percent lower than a year ago, according to data from Poten & Partners Inc., a New … [Read more...]