Oil traders halt work in protest over hours limitations in London

Independent
oil traders on the International Petroleum Exchange (IPE) boycotted trade in
London yesterday in protest at proposals to reduce their working hours.

According
to a report in the Financial Times, the protest came after IPE management
proposed a cut in ‘pit’ opening hours in an attempt to stimulate electronic
trading.

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Traders
say they provide an important role and their livelihoods would be affected if
the pit was shut.

By Mike Berry