Home' Trinidad and Tobago Guardian : January 29th 2015 Contents BG20 INTERNATIONAL
BUSINESS GUARDIAN www.guardian.co.tt JANUARY 2015 • WEEK FIVE
Assistant General Manager
- Human Resources
Applicants are invited to fill an URGENT vacancy for this position with a client who is a leading
player in a large-scale organisation within the Financial Services Industry.
The incumbent will be a member of the Senior Management team and will have local and regional
strategic leadership responsibility for Human Resources activities/initiatives.
Duties And Responsibilities
Qualifications And Experience
Applications must be submitted electronically to:
Milmag Business Solutions Ltd
Deadline for submission of applications -- February 6th, 2015
Hedge funds boosted bearish wagers on oil to a four-
year high as US supplies grew the most since 2001.
Money managers increased short positions in West
Texas Intermediate crude to the highest level since
September 2010 in the week ended January 20, US
Commodity Futures Trading Commission data show.
Net-long positions slipped for the first time in three
US crude supplies rose by 10.1 million barrels to
397.9 million in the week ended January 16 and the
country will pump the most oil since 1972 this year,
the Energy Information Administration says. Saudi
Arabia s King Salman, the new ruler of the world s
biggest oil exporter, said he will maintain the production
policy of his predecessor despite a 58 per cent drop in
prices since June.
"There s been a rush to call a bottom," John Kilduff,
a partner at Again Capital, a New York-based hedge
fund that focuses on energy, said by phone January
23. "The fundamentals are still stacked against a
WTI rose 50 cents, or 1.1 per cent, to US$46.39 a
barrel on the New York Mercantile Exchange during
the CFTC report period. The US benchmark fell 25
cents to US$45.34 at 9:22 am Brent slipped 30 cents
Salman Bin Abdulaziz Al Saud ascended to the throne
after King Abdullah died, The kingdom pumped 9.5
million barrels a day in December as members of the
Organisation of Petroleum Exporting Countries exceeded
their 30 million-barrel daily target for a seventh month.
"I don t see any major catalyst from either the supply
or demand side that will send prices higher this year,"
Stewart Glickman, an equity analyst at S&P Capital
IQ in New York, said by phone January 23. "It looks
like US$50 crude is the new reality that we ll have to
get used to."
Production in the US will be slow to decline as
improvements in drilling technology boost well output
even as companies drill less. Oil production per rig
from new wells in the Bakken in February will be double
what it was three years ago, the EIA said January 12.
The nation s oil boom has been driven by a com-
bination of horizontal drilling and hydraulic fracturing,
or fracking, which has unlocked supplies from shale
formations including the Eagle Ford and Permian in
Texas and the Bakken in North Dakota.
Drillers idled 49 US oil rigs last week, bringing the
total to 1,317, the lowest level in two years, Baker Hughes
Inc (BHI) said on its Web site January 23. It was the
seventh weekly decline.
"The fundamentals are terrible," Mike Wittner, head
of oil research at Societe Generale SA in New York,
said by phone January 23. "The drop in the rig count
will have a limited impact. We re going to see huge
builds during the first quarter worldwide."
Short positions in WTI increased by 6,262 contracts
to 94,203 futures and options in the week ended Jan.
20, CFTC data show.
Long positions dropped 0.3 per cent. Net-long posi-
tions fell 3.3 per cent to 216,704. Producers increased
net-short positions by 7,623 to 132,143 contracts, the
most since December 2011.
In other markets, bullish bets on gasoline advanced
5.8 percent to 39,418 contracts, the first gain in five
weeks. Futures increased 3.5 per cent to US$1.3128 a
gallon on Nymex in the reporting period.
Retail gasoline, averaged nationwide, slid to US$2.033
a gallon January 25, the lowest since March 2009,
according to Heathrow, Florida-based AAA, the largest
US motoring group.
Net-short wagers on US natural gas decreased 32
per cent to 11,967 lots. The measure includes an index
of four contracts adjusted to futures equivalents: Nymex
natural gas futures, Nymex Henry Hub Swap Futures,
Nymex ClearPort Henry Hub Penultimate Swaps and
the ICE Futures US Henry Hub contract. Bloomberg
Hedge funds bet
oil will fall further
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