Oil Brokerage acquires rival Blue Commodities

LONDON, Oct 9 (Reuters) – Global commodities broker Oil Brokerage said on Wednesday it had acquired rival Blue Commodities, as it seeks to increase its presence in physical oil market broking.

Oil Brokerage, a subsidiary of OTC Global Holdings, said the acquisition would bolster its position in physical fuel markets in Northwest Europe, the Mediterranean, and West Africa.

Oil Brokerage is already one of the key brokers in the European gasoline market.

Blue Commodities will fold into Oil Brokerage and OTC Global Holdings, with Blue Commodities chief executive Jon Pike becoming chief operating officer for physical markets at Oil Brokerage, and Blue Commodities’ existing leadership team and desk heads remaining intact. (Reporting by Robert Harvey Editing by Mark Potter)

(c) Copyright Thomson Reuters 2024. Click For Restrictions – https://agency.reuters.com/en/copyright.html