Jack Farchy

BB Energy agreed to relax an injunction on the government of South Sudan in exchange for receiving three cargoes of oil, in a significant easing of tensions in the $142 million legal dispute between the trading house and the African nation.

ING Groep, one of the top financiers of commodity trading, is fielding “a lot” of calls from clients to support Venezuelan natural resource deals as the country revamps exports after years of US sanctions, its new Americas commodity finance head said.

ING Groep, uno de los principales financiadores del comercio de materias primas, está recibiendo “muchas” solicitudes de clientes para respaldar operaciones con recursos naturales en Venezuela, mientras el país reconfigura sus exportaciones tras años de sanciones de Estados Unidos, dijo el nuevo responsable de financiamiento de materias primas para las Américas del banco.

Prices for gasoline, diesel and jet fuel are rebounding even as crude oil eases, a rare divergence that’s swelling costs for peak-season travelers and threatening to undermine President Donald Trump’s pledge to quash inflation ahead of midterm elections.

Vitol Group and Cargill Inc. have stopped trading with Radiant World, a private firm that’s rapidly risen to become one of the world’s largest iron ore traders, while Glencore Plc is no longer doing new business with the company, according to people familiar with the matter.

In a corporate presentation in December 2024, Radiant World boasted of its “diverse network” of suppliers and counterparties.

Jefferies Financial Group Inc. has been told that some of the invoices underpinning its financing to an iron ore trader called Sapphire Minmetals Corp. are not genuine, according to people familiar with the matter.

Glencore Plc said it has taken a provision on its exposure to iron ore trader Radiant World but that the exposure was not material to the company.

Glencore takes provision on exposure to trader radiant world Confirmed it has stopped doing any new business with the firm.

Radiant World is under growing pressure after two of its key banks froze its funds and major miners moved to cut ties with the iron ore trading house.