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1 week ago | 
bloomberg.com | Jack Farchy |Archie Hunter |Jack Wittels
An oil tanker prepares to transport crude oil to export markets in Bandar Abbas, Iran, in 2018. (Bloomberg) -- The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies. The barrage of headlines has revived memories of the political upheavals and prices spikes of the 1970s — and yet even when oil prices have jumped, it inevitably proved short-lived.
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2 weeks ago | 
bloomberg.com | Jack Farchy |Lucia Kassai
(Bloomberg) -- Trafigura Group is reorganizing the management of its trading team in the US, with long-time oil trading chief Corey Prologo set to step into a new role as chair of the company’s main American unit. Prologo will take the new role at Houston-based Trafigura Trading LLC on Oct. 1, according to a person familiar with the matter. At the same time, Robert Kreider will become head of oil for the US.
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2 weeks ago | 
news.bloombergtax.com | Archie Hunter |Jack Farchy
Trafigura Group warned that market volatility may not translate to opportunities for its traders, as the commodity giant reported first-half results that showed its dividend payments exceeded net profit. US President Donald Trump’s trade war in the last couple of months has ignited sharp price swings and market dislocations — typically conditions that commodity traders thrive on.
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2 weeks ago | 
news.bloomberglaw.com | Archie Hunter |Jack Farchy
Trafigura Group warned that market volatility may not translate to opportunities for its traders, as the commodity giant reported first-half results that showed its dividend payments exceeded net profit. US President Donald Trump’s trade war in the last couple of months has ignited sharp price swings and market dislocations — typically conditions that commodity traders thrive on.
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3 weeks ago | 
news.bloombergtax.com | Dinesh Nair |Mitchell Ferman |Jack Farchy |Claire Ruckin
BP Plc’s Castrol lubricant business is attracting interest from energy companies including Reliance Industries Ltd. and buyout firms such as Apollo Global Management Inc.and Lone Star Funds, according to people with knowledge of the matter. BP has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management Ltd. and Stonepeak Partners, the people said, asking not to be identified because discussions are private.
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3 weeks ago | 
bloomberg.com | Dinesh Nair |Mitchell Ferman |Jack Farchy |Claire Ruckin
The Castrol business includes lubricants for autos and industries. (Bloomberg) -- BP Plc’s Castrol lubricant business is attracting interest from energy companies including Reliance Industries Ltd. and buyout firms such as Apollo Global Management Inc. and Lone Star Funds, according to people with knowledge of the matter. BP has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management Ltd.
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4 weeks ago | 
bloomberg.com | Jack Farchy |Julian Luk |Alfred Cang
(Bloomberg) -- Glencore Plc has been buying Russian copper on the London Metal Exchange and plans to deliver it into China, in a trade that highlights a squeeze on supplies in the world’s largest copper consumer. In the past three trading sessions there have been requests for delivery of about 15,000 tons of copper from LME warehouses in Rotterdam, according to exchange data, drawing down available exchange inventories to the lowest in a year.
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4 weeks ago | 
flipboard.com | Jack Farchy |Julian Luk |Alfred Cang
1 hour agoTrump Media to raise $2.5 billion to buy bitcoinTrump Media & Technology Group (DJT) is doubling down on cryptocurrency, unveiling plans Tuesday to create what it claims will be one of the largest …7 hours agoThe US Is About to Discover if Deficits Don’t MatterRepublicans have embraced former Vice President Dick Cheney’s 2002 dictum that deficits don’t matter. US investors may be about to disagree. It’s hard to think intelligently about public debt and deficits.
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1 month ago | 
news.bloombergtax.com | Jack Farchy |Jeremy Hodges
A group of hedge funds that sued the London Metal Exchange over the 2022 nickel crisis have dropped their legal action after similar arguments made in separate proceedings were rejected by UK courts. The move means the exchange, which sparked fury by canceling $12 billion in trades after nickel prices surged due to a short squeeze, has faced down some $600 million in legal claims from some of the world’s highest profile investors.
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1 month ago | 
bloomberg.com | Jack Farchy |Jeremy Hodges
Traders on the trading floor of the open outcry pit at the London Metal Exchange Ltd. (LME) in London, U.K., on Monday, Sept. 6, 2021. After 18 months away, brokers returned Monday to the red leather couches of the London Metal Exchange’s floor, where they set benchmark prices of metals such as copper and aluminum by screaming orders at one another.
