Edition:
United Kingdom

Global Commodities 2016

Photo

Traders chase dwindling oil refining profits

LONDON Trade firms that profited from the renaissance in global refining over the past two years are bracing for tougher times as ample stocks, dwindling volatility and newly powerful refineries in China squeeze opportunities, the chiefs of major trade houses told the Reuters Commodities Summit.

Photo

VTTI looking to invest in oil storage in Southeast Asia

SINGAPORE VTTI, the storage arm of the world's largest independent oil trader Vitol [VITOLV.UL], is scouting for investment opportunities in Southeast Asia to cater to the region's rising demand for tank space, the head of its Asia business unit said.

CME mulls cash settlement for volatile cattle market

CHICAGO CME Group Inc is considering switching to a cash settlement process for its live cattle futures, a managing director said on Thursday, as traders continued to complain about extreme volatility.

Mercuria sees oil sector going digital with blockchain

LONDON The traditionally old-fashioned oil and gas industry could start adopting the technology behind the bitcoin electronic currency within the next year, according to one of the world's largest commodity traders.

Photo

OPEC deal strengthens Andurand's resolve on bullish oil bet

LONDON OPEC's plan to try to limit global oil production have served to reinforce renowned hedge fund manager Pierre Andurand's bullish stance on the prospects for crude prices.

Mercuria to grow natural gas team to play U.S. price volatility

LONDON Swiss-based commodities trader Mercuria wants to expand its U.S. natural gas and LNG trading teams as it sees big opportunities in an increasingly volatile U.S. gas market following the go-ahead for exports and rising domestic demand, its CEO said.

Photo

Mercuria boss says Brexit boosts London due to weak pound

LONDON The head of Geneva-based energy trader Mercuria said in the short term, Britain's planned exit from the European Union gives London the edge over Switzerland as a place to do business, as the drop in the pound has driven down running costs.

Photo

India's BPCL plans to spend $6.8 billion on refinery expansion by 2022

NEW DELHI India's Bharat Petroleum Corp Ltd plans to spend $6.75 billion through 2022 to raise refining capacity by 62 percent to meet rising fuel demand in the world's fastest growing major economy, a company official said.

Photo

Investors may be betting oil glut will end soon, but crude traders beg to differ

SINGAPORE Investors may have driven crude oil futures prices above $50 a barrel and amassed large bullish positions in expectations of further gains to come but their optimism isn’t shared by the people who produce, refine, ship or trade the real stuff on a daily basis.

Louis Dreyfus to explore stake sale in metals unit in H2 2017

LONDON Louis Dreyfus Company [AKIRAU.UL] expects to start conversations on potentially selling a stake in its metals business in the second half of 2017, Chief Executive Gonzalo Ramírez Martiarena said on Wednesday.

Speakers