Shares 148 Views

No. 1 trader Vitol sees Oil rattled on Trumponomics – BBG

According to the world’s biggest independent oil trader, Vitol, global crude producers are set to take prices on a bumpy ride this year in wake of uncertainty around the US President Trump’s policies, Bloomberg reports.

Kho Hui Meng, the president of Vitol Asia Pte., said in an interview in Singapore, “I think this market is going to be very volatile. People are worrying about U.S. policy. With the new administration, a lot of things are being speculated. So we can’t predict the future, we just have to wait.”

Vitol’s Kho added, “The structure is now ‘quite flat so people are still watching’. Once the backwardation comes in, which we’re not there yet, then people begin to look at the viability of the floating storages and ultimately they’ll come out.”

You may be interested

Bitcoin
shares22 views

JPMorgan Chase Scores Another Bitcoin Technology Patent

Brian Evans - Jul 22, 2018

Banks have shown a keen interest in Bitcoin technology over the years. Various patents have been filed by these financial institutions to explore new potential business use…

Bitcoin
shares23 views

Crypto Markets See Solid Upswing, Bitcoin Pushes $7,500

Brian Evans - Jul 22, 2018

Crypto markets seeing mostly green today, with total market cap up over 2% and Bitcoin pushing $7,500

Bitcoin Progress
shares30 views

Bitcoin Makes Major Headway: CFA Exam Will Now Include Crypto Topics

Brian Evans - Jul 22, 2018

Cryptocurrencies and blockchain technologies are making serious headway in the financial industry, the most recent sign being the decision by the CFA Institute, which offers the Chartered…

Most from this category

shares26 views
shares26 views
%d bloggers like this: