How did a broker make £125m in just two months?

Falling oil prices are not bad news for everyone

Low oil prices have landed one broker with revenues of £125m in just two months.

Tullett Prebon saw revenues rise 14% in November and December, compared to the previous year, because of increased activity due to low oil prices.

The company bought oil trader PVM in 2014, which turned out to be a fortunate purchase, as soon after, the oil market became turbulent.

In an update, Tullett Prebon said: “PVM’s main activities are in crude oil and petroleum products, and the business has continued to benefit from the pick-up in the level of activity in the oil and related products markets reflecting the significant changes in the oil price experienced since the start of the second half of 2014.”

 

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