Last week’s oil-price collapse received a temporary reprieve on Friday after Russian President Vladimir Putin reaffirmed his country’s commitment to rebalancing the market with OPEC.
Brent crude for November delivery advanced $1.38 or 3% to close at $46.83 a barrel Friday. The futures price briefly traded above $47 a barrel before returning lower. For the week, Brent plunged 6.2% after a four-day losing streak sent prices to three-week lows.
The West Texas Intermediate (WTI) benchmark for US crude futures advanced $1.28 or 3% on Friday to close at $44.44 a barrel, paring its weekly loss down to 6.7%.
Oil prices ran into Volatility last week, as the combination of rising US crude inventories and a strong dollar weighed on investor sentiment. Markets also digested remarks from Saudi Arabian energy minister Khalid al-Falih that the kingdom was not planning to intervene in the oil market, casting doubts about the upcoming production talks in Algeria.
Markets began to stabilize on Friday after Russian President Vladimir Putin called on the Organization of the Petroleum Exporting Countries (OPEC) to agree to limit output when they meet at the International Energy Forum September 26-28. The Russian leader said he would even favour a deal that offers leeway for Iran to continue ramping up production to pre-sanctions levels.
“Iran is starting from a very low position, connected with the well-known sanctions in relation to this country,” Putin said in an interview with Bloomberg on Friday. “It would be unfair to leave it on this sanctioned level.”
Experts remain skeptical that major producers will come to terms on a production freeze later this month. Even if a deal were reached, compliance would be a major issue, especially at a time when OPEC was continuing to defend market share. Saudi Arabia recently reported record oil output, while Iraq continues to ramp up exports from its southern ports.
In the United States, drillers have added active oil rigs in nine of the past ten weeks. The number of oil rigs operating in US fields rose by one to a total of 407 in the latest week, according to data from energy services provider Baker Hughes. Compared to the same time last year, drillers are operating 255 fewer rigs.
Increasing rig counts suggest US drillers are looking to expand production, and are highly responsive to rising prices.
Commodity traders also monitored a disappointing US jobs report, which virtually erased the possibility that the Federal Reserve will raise interest rates at its policy meeting later this month. US employers added 151,000 workers to payrolls in August, falling short of expectations calling for 180,000, the Labor Department reported Friday.
Continued low-rate stimulus by the Fed will help keep the US dollar in check, which could provide temporary relief for greenback-denominated commodities, such as oil. The US dollar declined sharply following the jobs report, but quickly rebounded to finish 0.2% higher against a basket of currencies Friday.
Last week’s oil-price collapse received a temporary reprieve on Friday after Russian President Vladimir Putin reaffirmed his country’s commitment to rebalancing the market with OPEC.
Brent crude for November delivery advanced $1.38 or 3% to close at $46.83 a barrel Friday. The futures price briefly traded above $47 a barrel before returning lower. For the week, Brent plunged 6.2% after a four-day losing streak sent prices to three-week lows.
The West Texas Intermediate (WTI) benchmark for US crude futures advanced $1.28 or 3% on Friday to close at $44.44 a barrel, paring its weekly loss down to 6.7%.
Oil prices ran into Volatility last week, as the combination of rising US crude inventories and a strong dollar weighed on investor sentiment. Markets also digested remarks from Saudi Arabian energy minister Khalid al-Falih that the kingdom was not planning to intervene in the oil market, casting doubts about the upcoming production talks in Algeria.
Markets began to stabilize on Friday after Russian President Vladimir Putin called on the Organization of the Petroleum Exporting Countries (OPEC) to agree to limit output when they meet at the International Energy Forum September 26-28. The Russian leader said he would even favour a deal that offers leeway for Iran to continue ramping up production to pre-sanctions levels.
“Iran is starting from a very low position, connected with the well-known sanctions in relation to this country,” Putin said in an interview with Bloomberg on Friday. “It would be unfair to leave it on this sanctioned level.”
Experts remain skeptical that major producers will come to terms on a production freeze later this month. Even if a deal were reached, compliance would be a major issue, especially at a time when OPEC was continuing to defend market share. Saudi Arabia recently reported record oil output, while Iraq continues to ramp up exports from its southern ports.
In the United States, drillers have added active oil rigs in nine of the past ten weeks. The number of oil rigs operating in US fields rose by one to a total of 407 in the latest week, according to data from energy services provider Baker Hughes. Compared to the same time last year, drillers are operating 255 fewer rigs.
Increasing rig counts suggest US drillers are looking to expand production, and are highly responsive to rising prices.
Commodity traders also monitored a disappointing US jobs report, which virtually erased the possibility that the Federal Reserve will raise interest rates at its policy meeting later this month. US employers added 151,000 workers to payrolls in August, falling short of expectations calling for 180,000, the Labor Department reported Friday.
Continued low-rate stimulus by the Fed will help keep the US dollar in check, which could provide temporary relief for greenback-denominated commodities, such as oil. The US dollar declined sharply following the jobs report, but quickly rebounded to finish 0.2% higher against a basket of currencies Friday.
Retail Trading & Prop Firms in 2025: Five Defining Trends - And One Prediction for 2026
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
