Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce - FX Empire

MOVES-Singapore’s Concord Energy hires crude oil trader from ZenRock – Reuters Africa

(Corrects Concord Energy’s chairman and owner to Julien La Chon, not Nasrat Muzayyin, in first paragraph)

SINGAPORE, July 6 (Reuters) – Concord Energy Pte Ltd has hired Jason Lai to take charge of its crude oil trading business, the Singapore-based company’s Chairman and owner Julien La Chon told Reuters in an email.

Lai, who starts with Concord Energy on Monday, reports to Li Bo, head of trading at the company, he said.

Lai was formerly a senior crude oil trader at Singapore-based ZenRock Commodities Trading Pte Ltd which is now under judicial management.

ZenRock owed more than $600 million to creditors after it was hit by tumbling oil prices and the coronavirus pandemic. (Reporting by Florence Tan; Editing by Shailesh Kuber)

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