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...The market for petroleum products was likely to be “more interesting” than that for crude, Hardy said. “Product markets are more vulnerable [and] that’s where we are seeing the stress and strain . . ....
...Brent crude, the global benchmark, was trading at $74.40 per barrel on Tuesday while West Texas Intermediate, the US equivalent, was at $68.38....
...I had come to walk along Chesil Beach after the equinox — when daffodils were wilting on the shore and the brent geese soon to depart for their nesting grounds in Siberia, before the window closed for the...
...“The price volatility is worrying everybody,” Russell Hardy, Vitol chief executive, told delegates last week at the FT Commodities Global Summit in Lausanne....
...In the longer-term trade flows will adjust, but prices are likely to remain elevated for some time,” said Russell Hardy, Vitol’s chief executive....
...“There’s 5m barrels of spare production being held back from the market today,” Hardy said....
...“The energy transition requires our business to change,” Hardy said....
...He said Vitol’s strong performance in 2019 owed much to a physical oil market where supply was tighter than futures prices might have suggested, with Brent — the international benchmark — bouncing around...
...Brent, the international benchmark, was trading around $41.50 a barrel in London on Tuesday morning, down from over $46 a barrel a few weeks ago....
...Brent crude, the international benchmark, was down fractionally at $65.41 a barrel while WTI, the US marker was flat at $59.81 a barrel. Asian markets also gained on Thursday....
...However, senior traders say market conditions have been more difficult in July and August, when Brent sank to a year low of $56 a barrel as US-China trade tensions added to fears about flagging demand....
...Brent crude was trading near $59 a barrel on Wednesday, down about 16 per cent from its recent peak above $70 a barrel in the aftermath of the attacks on Saudi Arabia’s oil infrastructure....
...The benchmark Brent crude has tumbled about 20 per cent from its April peak....
...Russell Hardy, chief executive of Vitol, the world’s largest independent oil trader, told the FT it was unlikely the kingdom could return to full capacity so quickly....
...So far in 2019 Brent crude oil has averaged $66 a barrel. ....
...“The FOMC meeting saw a dovish shift from the Powell Fed, but not nearly as dovish as global asset markets were hoping for,” said John Hardy, head of FX strategy at Saxo Bank....
...received considerable negative attention outside of China on national security concerns related to its mobile telephony and network technology and is banned from use by US government employees,” noted John Hardy...
...The privately owned company, which is run out of London by chief executive Russell Hardy, posted net income of $250m in the six months to June, down from $450m to $500m in the same period a year ago, according...
...any breakthrough in the near-term as President Trump will only sign on to something that looks like a victory and could be spun as such, while China will not want to appear weak or lose face,” said John Hardy...
...Commodities Oil prices turned choppy following Brent’s brief foray above $80 a barrel this week....
...yields continue higher in the US and elsewhere, the 10-year JGB yield would likely quickly pull to the new 20 basis point ceiling indicated by BoJ governor Kuroda at Tuesday’s press conference,” said John Hardy...
...Founding director Brent Horvath admits his company could not survive without these royalties but is also conscious of the pressures he faces to produce the showy plants that supermarkets demand....
...continues to drive uncertainty domestically, even as EU leaders managed a degree of solidarity at last week’s summit in agreeing on a framework for dealing with migrants on an EU-wide basis,” said John Hardy...
...“It appears that the two populist parties will cobble together a ruling coalition that the market somehow sees as putting zero existential strain on the single currency,” said John Hardy, head of FX strategy...
...Oil prices have continued to decline, with Brent crude dropping below $70 a barrel on Friday for the first time since April....
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