for oil trading
The Egyptian government, in order to raise revenues, has increased taxes on ships that use the Suez Canal, but the move will likely backfire, as oil-at-sea volumes will find other routes to reach their destinations.
The oil merchants have typically resorted to operating in the shadows of the markets, exploiting opportunities under the radar, as they moved cargoes from a point of surplus to a point of deficit. But recently, they have become more open and transparent about their financial status, their outlooks on oil prices, and their operations across commodity markets.
Brynne Kelly, an independent portfolio manager, speaks to The Fuse about Twitter, oil and gas prices, and the evolving nature of oil markets.
A number of traders have come together under the hashtag #OOTT, the Organization of Oil Trading Tweeters, to share oil news, events, and a public data set of tanker traffic and global oil trade flows that rivals some of the best proprietary market analytics.
Gunvor is one of the largest commodity traders in the world. David Fyfe, Gunvor's Head of Market Research and Analysis, talked to The Fuse about current oil market dynamics, shifting trends in global trading, and the status of OPEC.
The oil markets will be keeping a close eye on interest rates, as any rate hike could push prices even lower.
The IMF's inclusion of China’s yuan in the global currency basket gives the country a big symbolic victory ahead of the launch of its yuan-denominated crude futures exchange.