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Tag Archives: oil market

Black box hedge funds lead winners from oil drop

Black box hedge funds lead winners from oil collapse.

LONDON/NEW YORK – To make money from the sharp fall in oil prices this year, it helped if you weren’t human. While a handful of big name traders have profited from some of oil’s 35 percent plunge, it has been computer-based or “systematic” funds which have captured much of the spoils. These black box funds use programs to follow various ...

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China oil market reform paves way for new crude benchmark

china

* Chinese crude futures could be launched as early as October * Exchange seeks foreign players for yuan-denominated contract * Oil market reforms will squeeze China’s state oil giants SINGAPORE – China may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the U.S. WTI benchmarks, three sources said, as ...

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Cheaper prices spur U.S. gasoline demand: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Strong growth in demand for refined fuels such as gasoline and diesel is helping to rebalance the global oil market, according to most observers. “Recent oil market strength … stems partly from unexpectedly strong oil demand growth,” the International Energy Agency explained in its June ...

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Startup receives $250 million

Houston-based startup producer TRP Energy just received a $250 million boost in private equity, FuelFix reports. TRP plans to use the hefty funding to buy land, which they’ll pay other companies to drill. In the midst of a precarious oil market, the TRP will be able to pursue larger-scale endeavors that it could independently developing the acreage. “What we really ...

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Russia, reeling from cheap oil, talks up OPEC ties

MOSCOW – Russia has been holding active, “unprecedented” consultations with the Organization of Petroleum Exporting Countries, a senior official said on Wednesday, a clear signal of Moscow’s strive for higher oil prices. Russia has stepped up contacts with OPEC after oil prices plunged last year, however it has dismissed any suggestion it might cut output to prop up prices, saying ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of March 7 through March 13. Enjoy! 5. Whiting Petroleum set to thrive despite low prices Denver-based Whiting Petroleum Corp. was and continues to be structured around making money at current oil price levels, says James J. Volker, the company’s president and Chief Executive Officer. During the company’s fourth quarter ...

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