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Morgan Stanley oil business sold for $1bn

12 May 2015

Castleton Commodities International has purchased Morgan Stanley’s physical oil merchant business for $1 billion.

Morgan Stanley had the largest physical oil trading operation of the investment banks and this deal marks a key moment as many investment banks attempt to reduce their commodities trading.

The $1bn deal could see Castleton Commodities International enter into the upper ranks of global oil dealers, giving it the scale required to succeed in the global oil market.

Not included in the deal is Heidmar, the oil tanker operator in which Morgan Stanley has a minority stake, and the company will continue to trade in oil markets for its clients.