ABN Amro cuts commodities trading business


Dutch bank ABN Amro has ceased its crude oil, freight and natural gas market-making operations globally, with the aim of concentrating more on its precious metals and emissions-trading businesses.

Commodity-market sources said they had heard that the dealer had suffered losses in freight, metals and natural gas, but that it did not have much left in the way of positions to unwind in the markets in question.

"There is some misunderstanding here - what we did was to concentrate on precious metal