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Arbitrage

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  • SINGAPORE, Jan 27- U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading companies to sell the light crude, trade sources said. Oil producers have been pressing to lift a 40- year-old U.S. ban on crude exports and the Department of Commerce...

  • NEW YORK, Jan 22- The discount for U.S. crude relative to Brent crude futures widened nearly 30 percent after weekly U.S. government data on Thursday showed a larger-than-expected U.S. crude stock build last week. The arbitrage moved from around $1.73 a barrel at 11:01 a.m. EST to as much as $2.29 a barrel at 11:40 a.m. EST. U.S. crude stocks jumped 10.1 million...

  • Oil markets open cautiously ahead of China GDP data Monday, 19 Jan 2015 | 8:35 PM ET

    SINGAPORE, Jan 20- Oil markets opened to cautious trading in Asia on Tuesday ahead of data expected to show China's economy grew at the slowest pace in 24 years in 2014, stoking worries in energy markets already suffering from slowing demand and oversupply. Brent crude futures were trading at $48.90 per barrel at 0115 GMT, close to their last settlement, while U.S....

  • HONG KONG, Jan 16- China's yuan snapped a five-day gaining streak against the dollar and posted its biggest intraday daily loss in more than a month on Friday, as investors squared positions to cope with their losses in Swiss Franc market following a shock move by the Swiss cental bank. The Swiss National Bank shocked financial markets on Thursday by scrapping a...

  • *World Bank lowers global growth forecasts for 2015, 2016. Late on Tuesday, the World Bank lowered its 2015 and 2016 world economic growth forecasts, reinforcing worries about sluggish demand growth in the oversupplied energy markets. Brent fell 24 cents to $46.38 a barrel by 1:24 p.m. EST, after reaching a high of $47.14.

  • NYMEX-Crude edges above $46/bbl after hitting new low Tuesday, 13 Jan 2015 | 7:14 PM ET

    TOKYO, Jan 14- U.S. crude futures edged above $46 a barrel on Wednesday, helped by a flurry of short-covering as traders moved to cash in profitable short positions as the price trades not far from a near six-year low hit a day earlier. *NYMEX crude for February delivery was up 14 cents at $46.03 a barrel by 2345 GMT, after settling down 18 cents on Tuesday.

  • NEW YORK, Jan 13- Oil prices fell by up 3 percent to near six-year lows on Tuesday, with Brent briefly trading at par to U.S. crude for the first time in three months as some traders moved to take advantage of ample storage space in the United States. Brent was down $1.48 at $45.95 a barrel by 1850 GMT, after falling to $45.19, its lowest since March 2009.

  • "The stock market rallied and that helped U.S. crude and the $44 a barrel level had been a target number for traders and U.S. crude held above that early on Tuesday," said Phil Flynn, analyst at Price Futures Group in Chicago. U.S. crude had fallen to an April 2009 low of $44.20 earlier in the session before pulling back to trade down about 40 cents at $45.67 a barrel by...

  • *U.S. crude slips on API data, after closing up 2 cents near $56. NEW YORK, Dec 16- Brent crude futures fell for a fifth straight day on Tuesday to end below $60 a barrel while U.S. crude finished a volatile session slightly higher as trading of expiring options helped defend the price above $55. While both markets rebounded from session lows, U.S. crude saw frenzied...

  • *Brent closes down, but off lows at above $60. NEW YORK, Dec 16- Brent crude futures fell for a fifth straight day on Tuesday to end below $60 a barrel while U.S. crude finished a volatile session slightly higher as trading of expiring options helped defend the price above $55. While both markets rebounded from session lows, U.S. crude saw frenzied trading that pushed it...

  • *OPEC repeats intention to keep output steady despite glut. NEW YORK, Dec 15- Crude prices came under renewed pressure on Monday, and Brent hit five-year lows of nearly $60 a barrel after producer group OPEC said it would stick to its decision not to cut output despite fears of a world awash in oil. But oil later gave up its gains, with Brent turning negative and U.S....

  • *Brent down after report citing $60 oil outlook by Saudis. NEW YORK, Dec 3- U.S. crude closed higher on Wednesday at more than $67 after data showed a surprise tumble in inventories, but a report suggesting Saudi Arabia expected still lower prices for oil sent Brent below $70 a barrel. Brent closed lower after the Wall Street Journal, citing people familiar with the...

  • SAO PAULO, Dec 3- Credit Suisse Group AG plans to open a hedge fund in Brazil called Gauss next year to offer new investment alternatives for clients, such as volatility arbitrage, executives said on Wednesday. The hedge fund, named after "the prince of mathematicians" Carl Gauss, will be managed by Fabio Okumura, former head of proprietary trading at Itaú Unibanco...

  • SAO PAULO, Dec 3- Credit Suisse Group AG plans to open a hedge fund in Brazil called Gauss next year to offer new investment alternatives for clients, such as volatility arbitrage, executives said on Wednesday. The hedge fund, named after "the prince of mathematicians" Carl Gauss, will be managed by Fabio Okumura, the former head of proprietary trading at Itaú...

  • JPX-Nikkei 400 futures debut amid growing ROE interest Tuesday, 25 Nov 2014 | 2:19 AM ET

    It was jointly developed by Japan Exchange Group and Nikkei Inc. The index has been endorsed by some of Japan's most influential financial institutions. Last month, the Bank Of Japan said it will buy exchange-traded funds that track the JPX-Nikkei 400 when it tripled annual purchases of ETFs to about 3 trillion yen. The Government Pension Investment Fund,...

  • LONDON, Nov 19- The splintering of the global aluminum price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its U.S....

  • LONDON, Nov 19- The splintering of the global aluminum price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its U.S....

  • But a series of failed deals, including the collapse of a $55 billion tie-up between UK drugmaker Shire and U.S. peer AbbVie, has led to losses for some of the world's biggest proponents of the strategy, with investors pulling out $3.3 billion in the last two months alone. "The AbbVie/ Shire break, in particular, has led to a far reaching de-risking exercise for many...

  • CALGARY, Alberta, Oct 20- Spot crude-by-rail volumes are down in Canada as traders and marketers including Glencore PLC are deterred by stronger heavy oil prices that have erased arbitrage opportunities to ship cheap crude from landlocked Alberta to higher-priced U.S. markets, industry sources said. The international commodities group Glencore no longer...

  • Hedge funds bleed as AbbVie reconsiders Shire bid Wednesday, 15 Oct 2014 | 11:51 AM ET

    LONDON, Oct 15- Some of the world's best known hedge funds lost hundreds of millions of dollars in the value of the stock they hold as Shire plunged after AbbVie's decision to reconsider its $55 billion bid for the British healthcare group. Chicago- based AbbVie was eager to buy Shire to reduce its U.S. tax bill by moving its tax base to Britain. "It seems Abbvie is...