GFI and Spectron end Asian oil joint venture

Brokers GFI and Spectron will end their Asian oil joint venture on November 1 after just 20 months. Despite speculation that the joint venture was ended due to the effects of the credit crisis on Asian energy market liquidity, industry sources said that the Asian markets are traditionally tough, and the decision is not necessarily related to the turmoil in financial markets.

GFI spokesman Alan Bright said "it was a business decision to end the joint venture and it was an amicable split".

GFI plans

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