Top analyst leaves oil venture following major loss

Torbjørn Kjus, former oil analyst at DNB Markets, is leaving his position as head of energy trading at a Norwegian fund after just six months. The announcement coincides with the fund's NOK 100 million loss on speculation in bunker derivatives.

Torbjørn Kjus left his job as oil analyst at DNB in March | Photo: DNB

The former top analyst Torbjørn Kjus steps down as head of energy trading at a fund, which he has headed for just six months.

His resignation coincides with the fund announcing Friday that it has lost more than NOK 100 million (USD 11.5 million) on speculation in bunker prices, according to several notices to the Oslo Stock Exchange Thursday and Friday.

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