• 21 hours Oil Falls As Trump Tweet Blasts OPEC
  • 2 days Comey vs.Trump, Part 2: Comey's Memos. What's next?
  • 13 hours Asian Oil Demand To Hit Record - The Price Per Barrel Continues To Grow
  • 2 days Walmart and VW's Electrify America Team Up To Build Massive EV Charging Network Across US
  • 2 days Trump's top energy adviser resigns
  • 3 days Vistra Energy Says Coal Won't Come Back
  • 2 days Net Income At Saudi Aramco Tops $33 bn in the first half of 2017!
  • 2 days HAPPY RIG COUNT DAY!!
  • 2 days Robot Completes Hardest Job Known to Man
  • 2 days New task force formed-to evaluate postal service
  • 2 days Oil Prices To Fall Below $60?
  • 3 days Is Today's Tesla News Good or Bad?
  • 2 days will oil hold?
  • 2 days The future of oil and gas exploration in New Zealand
  • 2 days Venezuela gives Oil Minister 'Extra Powers' to halt production decline
  • 2 days Maduro Under Pressure: EU Says May Impose More Sanctions On Venezuela If Democracy Undermined
Alt Text

Oil Prices Rise After Trump’s Syria Tweets

Oil prices soared on Wednesday…

Alt Text

IMF: Expect Oil To Fall Below $60

While bullish sentiment has sent…

Alt Text

Trump Slams OPEC For Manipulating Oil Prices

Trump added further downward pressure…

Lincoln Brown

Lincoln Brown

Lincoln Brown is the former News and Program Director for KVEL radio in Vernal, Utah. He hosted “The Lincoln Brown Show” and was penned a…

More Info

Trending Discussions

Yahoo Messenger Shuts Down: Oil Traders Looking For New Ways To Communicate

Yahoo HQ

Yahoo Messenger is shutting down, leaving oil and gas traders, once dependent on Yahoo Messenger, looking for a new means of communication.

The service was still active when the Asian markets opened on Friday, but Yahoo has stated that Friday will mark the swan song of the service. With the Yahoo Messenger’s departure, traders will have to find other ways of communicating, which in some cases could mean a return to lower tech methods—the now almost-antiquated telephone.

Matt Stanley, a fuel oil broker at Freight Investor Services in Dubai commented: “Yahoo was great as an aggregator for all commodity participants so I think any cross-broking from one messenger platform may mean people use the old friend—the phone. So in some kind of ironic way, you may see stronger relationships formed now people have to interact the old school way.”

The free service helped to revolutionize the way oil industry traders communicated with one another. The online version does not meet industry and compliance standards, in this case the archiving of conversations.

One trader in Singapore, a 20-year market veteran, lamented: “You have no idea how much I’ll miss Yahoo Messenger. I built up hundreds of contacts on it over more than a decade. I have Yahoo friends I have never met, but with whom I spent many hours bantering and joking. It also made me a lot of money. Now that it’s gone, I could cry.”

There are other messenger services available, and traders and those who cover the industry for news services are now on the hunt for an equivalent service. Some potential candidates are Eikon Messenger, ICE Instant Messaging, Symphony, Bloomberg Messenger, Twitter, and WhatsApp.

Eikon has worked well for power, natural gas, oil and iron, and the oil industry backs ICE, while banks seem to favor Symphony. An Asian fuel trader noted that it would be “a bit of a pain” for traders to use multiple platforms for communications.

Lincoln Brown for Oilprice.com

More Top Reads From Oilprice.com:


x


Back to homepage

Trending Discussions


Leave a comment
  • Ravi on June 30 2017 said:
    This shutting down of Yahoo messenger will put a great impact on the market from small to big medium.This will change the growth rate in the market.email support

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News