Oil Heads for 4th Weekly Gain as U.S. Fuel Demand Strengthens
Thursday,10/03/2016|22:57GMTby
Bloomberg News
Oil headed for the longest run of weekly gains since May amid signs of rising U.S. fuel demand and...
Oil headed for the longest run of weekly gains since May amid signs of rising U.S. fuel demand and easing crude production.
Futures gained as much as 0.8 percent in New York and are set for a fourth weekly advance. Gasoline consumption the past four weeks was at the highest level since September, while crude output remained near the least since November 2014, according to data from the Energy Information Administration Wednesday. Stockpiles still remain at the most since 1930. A measure of price Volatility Thursday closed near the lowest in two months.
“The EIA numbers show that consumer demand from cheap oil is helping to rebalance the market, slowly but steadily,” Angus Nicholson, an analyst at IG Ltd. in Melbourne, said by phone. “Low prices are having an effect on output and it looks like the end of the $20 a barrel level.”
Oil has recouped its losses this year after slumping to a 12-year low last month amid speculation stronger demand and falling U.S. production will ease a supply glut. The price plunge is still having an affect on energy producers, with Anadarko Petroleum Corp. cutting about 1,000 jobs after plans to park drilling rigs, slash dividends and sell assets.
West Texas Intermediate for April delivery added as much as 29 cents to $38.13 a barrel on the New York Mercantile Exchange , and traded at $38.11 at 8:45 a.m. Hong Kong time. The contract fell 45 cents to $37.84 on Thursday. Total volume traded was about 65 percent below the 100-day average. Prices are up 6.1 percent this week.
Brent for May settlement lost $1.02, or 2.5 percent, to $40.05 a barrel on the London-based ICE Futures Europe exchange on Thursday. The contract is up 3.4 percent this week for a third weekly advance. The global benchmark crude closed at a premium of 65 cents to WTI for May.
To contact the reporter on this story: Ben Sharples in Hong Kong at bsharples@bloomberg.net. To contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Aaron Clark, Andrew Hobbs
Oil headed for the longest run of weekly gains since May amid signs of rising U.S. fuel demand and easing crude production.
Futures gained as much as 0.8 percent in New York and are set for a fourth weekly advance. Gasoline consumption the past four weeks was at the highest level since September, while crude output remained near the least since November 2014, according to data from the Energy Information Administration Wednesday. Stockpiles still remain at the most since 1930. A measure of price Volatility Thursday closed near the lowest in two months.
“The EIA numbers show that consumer demand from cheap oil is helping to rebalance the market, slowly but steadily,” Angus Nicholson, an analyst at IG Ltd. in Melbourne, said by phone. “Low prices are having an effect on output and it looks like the end of the $20 a barrel level.”
Oil has recouped its losses this year after slumping to a 12-year low last month amid speculation stronger demand and falling U.S. production will ease a supply glut. The price plunge is still having an affect on energy producers, with Anadarko Petroleum Corp. cutting about 1,000 jobs after plans to park drilling rigs, slash dividends and sell assets.
West Texas Intermediate for April delivery added as much as 29 cents to $38.13 a barrel on the New York Mercantile Exchange , and traded at $38.11 at 8:45 a.m. Hong Kong time. The contract fell 45 cents to $37.84 on Thursday. Total volume traded was about 65 percent below the 100-day average. Prices are up 6.1 percent this week.
Brent for May settlement lost $1.02, or 2.5 percent, to $40.05 a barrel on the London-based ICE Futures Europe exchange on Thursday. The contract is up 3.4 percent this week for a third weekly advance. The global benchmark crude closed at a premium of 65 cents to WTI for May.
To contact the reporter on this story: Ben Sharples in Hong Kong at bsharples@bloomberg.net. To contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Aaron Clark, Andrew Hobbs
Clearstream to Settle LCH-Cleared Equity Contracts
CMC Markets’ Artur Delijergijevs on Metals Demand, Volatility, & Stable Execution
CMC Markets’ Artur Delijergijevs on Metals Demand, Volatility, & Stable Execution
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
