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3 weeks ago | 
rigzone.com | Alex Longley |Sherry Su
A record volume of swaps that traders use to hedge benchmark physical oil prices changed hands on Friday as prices jumped, prompting market participants to suggest that one or more traders had been forced to close out big loss-making positions.
More than 108,000 so-called Dated to Frontline swaps traded on the ICE Futures Europe exchange on Friday, data from the bourse show. That’s the highest since at least 2015, far exceeding 68,000 contracts that were transacted in June last year.
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3 weeks ago | 
bloomberg.com | Alex Longley |Sherry Su
A record volume of swaps that traders use to hedge benchmark physical oil prices changed hands on Friday as prices jumped, prompting market participants to suggest that one or more traders had been forced to close out big loss-making positions. More than 108,000 so-called Dated to Frontline swaps traded on the ICE Futures Europe exchange on Friday, data from the bourse show. That’s the highest since at least 2015, far exceeding 68,000 contracts that were transacted in June last year.
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1 month ago | 
bloomberg.com | Serene Cheong |Sherry Su |Alfred Cang
Mercuria Energy Group Ltd. has hired oil traders Naoaki Matsuo and Thibault Drillon from the trading arm of French oil major TotalEnergies SE to join its expanding energy team, according to people with knowledge of the matter. The duo will start in the middle of 2025, the people said, asking not to be named as the information isn’t public. Matsuo and Drillon will be focused on areas including physical Middle East crude and paper markets.
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2 months ago | 
gcaptain.com | Sherry Su |Rakesh Sharma |Mike Schuler
By Sherry Su and Rakesh Sharma (Bloomberg) —An oil tanker carrying crude from a Russian producer that was recently sanctioned by the US has been floating off West Coast of India for two days, raising a question about whether authorities in the south Asian country will allow the vessel to deliver its cargo. The Cordelia Moon originally planned to discharge at Vadinar on India’s west coast on Feb.
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2 months ago | 
bloomberg.com | Sherry Su |Rakesh Sharma
An oil tanker carrying crude from a Russian producer that was recently sanctioned by the US has been floating off West Coast of India for two days, raising a question about whether authorities in the south Asian country will allow the vessel to deliver its cargo. The Cordelia Moon originally planned to discharge at Vadinar on India’s west coast on Feb. 9 after loading about 1 million barrels of Urals crude from Russia’s Black Sea port of Novorossiysk Jan.
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2 months ago | 
bloomberg.com | Sherry Su |Alex Longley
European crude prices have slumped to multimonth lows as the continent’s refineries start to take plants offline for regular maintenance, another cloud hanging over an oil market that’s largely wiped out its year-to-date gains. Values are falling from the North Sea to the Mediterranean. A grade of Kazakh oil sank to the lowest in more than two years last week, while the UK’s Forties crude that helps to set the benchmark price for barrels around the globe traded at its weakest since May.
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2 months ago | 
bnnbloomberg.ca | Sherry Su |Alex Longley
(Bloomberg) -- European crude prices have slumped to multimonth lows as the continent’s refineries start to take plants offline for regular maintenance, another cloud hanging over an oil market that’s largely wiped out its year-to-date gains. Values are falling from the North Sea to the Mediterranean.
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2 months ago | 
financialpost.com | Anthony Di Paola |Alex Longley |Sherry Su
Saudi Arabia hiked the price of its flagship crude to Asia by the most in more than two years as the kingdom responds to surging premiums for Middle Eastern crude and improving refinery margins. (Bloomberg) — Saudi Arabia hiked the price of its flagship crude to Asia by the most in more than two years as the kingdom responds to surging premiums for Middle Eastern crude and improving refinery margins.
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2 months ago | 
bloomberg.com | Anthony Di Paola |Alex Longley |Sherry Su
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2 months ago | 
rigzone.com | Sherry Su |Archie Hunter
Millions of barrels of oil that would normally be preserve of oil refineries in Europe are instead heading to Asia as US sanctions on Russia revive one of the market’s great arbitrage trades.
Asian companies are already on course to collect almost 400,000 barrels a day of oil from the North Sea and Kazakhstan next month, vessel tracking and trading data compiled by Bloomberg show. That puts shipments on course for a 10-month high and revives a trade that had been largely dormant for months.
