While algorithmic CTAs add much-needed liquidity to the market, their trading strategies can amplify daily swings to an extreme. In 2022, when CTA trading volumes rapidly expanded, New York oil futures posted a more-than $2 daily move 242 times.
Shell is shaking up its mighty in-house trading unit, with the retirement of Mark Quartermain as head of crude -- a job widely seen as the most powerful in the global oil-trading industry.
The son of the legendary founder of Hin Leong said the Singapore oil trader hid about $800 million in losses racked up in futures trading, suggesting a much bigger hole in the company’s finances than thought, according to people with knowledge of the matter.
An oil trader has been given a 21-month jail term by a High Court judge who concluded he had broken promises after agreeing to pay millions of pounds to his former wife following the breakdown of their marriage.
