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Jonathan Goldberg, the founder of one of the world's largest energy-focused hedge funds BBL Commodities, is launching a new $1 billion macro fund with his former Goldman Sachs colleague Ben Jacobs that will trade currencies and equity indices based on commodities trends. BBL Commodities itself currently has some $500 million to $600 million under management. The new fund will be a rare beast in the market where commodities are often being traded by macro funds based on macro-economic trends.
* Malaysia sets export tax at 5 pct after 3-month suspension * Lower soyoil, stronger ringgit also weigh -trader (Updates with closing prices) By Liz Lee and Emily Chow KUALA LUMPUR, March 22 (Reuters) ...
March 22 (Reuters) - Shenzhen Stock Exchange: * SAYS IT REPRIMANDS XINJIANG ZHUNDONG PETROLEUM TECHNOLOGY , ITS CONTROLLING SHAREHOLDER AND FORMER EXECUTIVES Source text in Chinese: http://bit.ly/2GgzBev ...
China's crude oil futures, to be launched on Monday, will be a major step in Beijing's years-long push to win greater sway over oil pricing, but for western traders it will likely bring frustration as well as opportunity. Ten foreign intermediaries have registered, including J.P.Morgan, Bands Financial, Straits Financial Services and other Hong Kong based affliates of domestic brokerages.
SYDNEY, March 22 (LPC/Reuters) - Lenders to Queensland's debt-laden Wiggins Island Coal Export Terminal have agreed to extend about $3 billion due on an outstanding loan for eight years, a lifeline to owners who would have had to repay the hefty debt from September, two sources told Reuters. Mining giant Glencore Plc and its partners - owners of the world's most expensive coal terminal - face a September deadline to refinance the loan or pay off the full amount over the next 15 years. The lenders want the coal export terminal to half its debt to less than $1.5 billion, a level comparable to an investment grade company, making it easier for WICET to get a credit rating to refinance some of the loan in bond markets at a later stage.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures rose for a third consecutive session on Wednesday evening, ...
The North Sea is set to see more oil and gas projects come online in 2018 than in any of the past five years as the industry increases its spending
Oil majors and large oil traders have completely different visions on future trends in oil demand, as one sees demand peak soon, while the other remains ultra-bullish
The world’s next big offshore boom is about to take place in the South-American country of Guyana, but the country and its rulers might not be prepared for it
Vitol, the largest independent oil trader, is looking to secure long-term supply deals with some of the top players in the Middle East
According to the North Dakota Department of Mineral Resources, the state produced 1,175,638 barrels of oil per day and 2,068,244 thousand cubic feet per day of associated gas in January.
Investing.com - Crude prices rose to the best levels of the session on Wednesday, hitting a six-week high, after data showed that U.S. oil stockpiles fell unexpectedly last week as refinery activity picked up.
In a meeting with U.S. President Donald Trump, Saudi Arabia’s Crown Prince bin Salman noted that the global oil market is close to regaining stability
By Alex Lawler LONDON (Reuters) - Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast, a joint OPEC and non-OPEC committee said, bringing producers close to the pact's original aim. OPEC and its allies achieved 138 percent of pledged output reductions last month, OPEC said, up from 133 percent in January and the highest since the deal aimed at clearing a glut began in January 2017. The Organization of the Petroleum Exporting Countries, Russia and other non-OPEC producers have extended the pact until the end of 2018, even though OPEC sources say the market is now expected to balance between the second and third quarters.