Commodities & Resources

Commodities

Oil hedge funds remain cool on further price surges

Oil hedge funds remain cool on further price surges

– Uncertainty still looms for commodities-focused strategies as Middle East tensions resurface – 

The deadly missile strike against Iranian general Qassem Suleimani at Baghdad Airport on 3 January elevated oil prices amid immediate concerns over renewed conflict in the region. Brent Crude surged to more than USD70 a barrel following the attack, and prices stayed above USD68 early last week, before falling back to just under USD65 on Monday.

In Focus

Oil prices, production back to normal after Saudi Arabia attacks, but security concerns remain

Oil prices, production back to normal after Saudi Arabia attacks, but security concerns remain

By Beatrice Bedeschi – A month after the drone attacks on the Abqaiq and Khurais oil facilities, Saudi Arabia has surprised observers by being able to bring oil production capacity to nearly pre-attack levels, which has quickly stabilised oil prices after the spikes seen in the immediate aftermath of the incidents.

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China opens up oil and gas upstream sector to foreign investment

China opens up oil and gas upstream sector to foreign investment

By Beatrice Bedeschi – A recent decision by the Chinese government to open up the oil and gas upstream sector to direct foreign investments is likely to rekindle interest by international energy companies. However, impact in the short term might be limited as the market awaits further policy changes providing more clarity on how the new rules will work in practice, according to  Industry experts and analysts.

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CFTC orders commodity trading firm to pay penalty for wash sales

CFTC orders commodity trading firm to pay penalty for wash sales

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Respondent, Eagle Market Makers, Inc. (Eagle), an Illinois firm, for engaging in wash sales and noncompetitive transactions which were traded on the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (collectively, CME).