Julia Payne

Oil traders doubt OPEC will boost output as planned in 2021, citing bearish signals

29 Sep 2020

LONDON OPEC is unlikely to increase oil output as planned from January next year as it could mean adding more downside pressure to the already bearish and weak market, top traders said on Tuesday.

Mercuria beefs up renewable energy investment with private equity partners, CEO says

29 Sep 2020

LONDON Global energy trader Mercuria has teamed up with U.S. private equity firms to invest in renewable energies, its chief executive told the FT Global Commodities Summit.

Top traders see tepid oil demand recovery, flat prices

29 Sep 2020

LONDON The heads of the world's largest trading houses on Tuesday predicted a tepid recovery in oil demand and flat prices over the coming months or years due to the coronavirus pandemic but said peak oil demand would come only in the next decade.

Vitol expects tough second half as oil trading flatlines

21 Sep 2020

LONDON After extreme oil volatility that provided traders with bumper profits in the first half of the year, the market is now stuck in a lower gear, fatigued by the realities of COVID-19.

Exclusive: Petrobras resumes oil trading with Vitol, Trafigura and Glencore

15 Sep 2020

LONDON/RIO DE JANEIRO Brazil's state-run oil firm Petrobras has lifted its ban on trading with major commodity traders Vitol, Trafigura and Glencore , in place since Brazilian prosecutors announced a bribery probe in 2018, the company told Reuters.

Europe has a diesel problem; refiners are feeling the heat

08 Sep 2020

LONDON/GENEVA Europe, one of the world's biggest diesel consumers, faces a major glut which combined with weak demand is weighing heavily on the ability of the region's refineries to keep running.

Big trade houses see persisting oil stocks bubble

08 Sep 2020

GENEVA Trading firms enjoyed an unprecedented boom in the first half of 2020 due to extreme volatility caused by the COVID-19 pandemic but the market's direction now looks less certain due to high stocks and tepid demand recovery.

Steady oil price belies weakening physical market

24 Aug 2020

LONDON The oil price is holding steady close to $45 a barrel, but prices further forward and in the physical market are showing new signs of weakness mainly due to a fall in demand from China after the country's buying binge earlier in the year.

GRAPHIC-Steady oil price belies weakening physical market

24 Aug 2020

* Global crude floating storage chart: https://tmsnrt.rs/3aIlYld

Commodity traders face rising finance costs as big banks pull out

14 Aug 2020

LONDON Commodity trade financing by the world's banks is drying up at a rate not seen in more than 20 years, leaving small and medium sized firms most exposed, banking and trading sources said.

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