GO
Loading...

Enter multiple symbols separated by commas

Nomura Trims Energy Trading in Commodities Restructure

Nomura Securities, which put a target of $220 on oil not too long ago, is scaling back on some energy trading and restructuring commodities staff in London and Asia, a source said.

Oil traders were buzzing about the developments Wednesday, particularly because of Nomura's outsized call. Nomura had said in late February oil could reach $220 if Algeria joined Libya in shutting down oil production.

The source said a small amount of staff was affected and the cut backs are not affecting precious metals trading. Nomura is not a major commodities house. The source said it will continue its fixed income focus.

Questions? Comments? Email us at marketinsider@cnbc.com

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • Peter Schacknow

    Senior Producer at CNBC's Breaking News Desk.

  • Dominic Chu is a markets reporter for CNBC.

  • Evelyn Cheng

    Evelyn Cheng is a markets writer for CNBC.

  • Sara Eisen

    Sara Eisen is a correspondent for CNBC, focusing on currencies and the global consumer.

Market Strategist Survey