LME clearing house unveils reforms, to triple member capital requirements
The exchange also said that LME Clear would reduce the amount members have to contribute towards its default fund.
Oil dropped for a fourth day as producers in Canada worked to resume operations after wildfires and Iran continued to raise exports.
July crude fell as much as 2.1 percent. Cooler weather is helping to control a blaze in Canada’s oil-sands region and allowing Suncor Energy Inc. and Syncrude Canada Ltd. to start getting back to work. Iranian exports could surpass 2.2 million barrels a day by midsummer, the state oil company told the Mehr news agency. Declines eased after Genscape Inc. was said to report that supplies slipped at Cushing, Oklahoma, the delivery point for New York futures.
