Citigroup Buying Credit Suisse’s Energy and Metals Trading Block?

Citigroup has reportedly bought the majority of Credit Suisse Group’s commodities business, including positions in natural gas, iron, coal, crude oil, base metals and previous metals.

According to Bloomberg:

Five years after selling its Phibro LLC energy-trading unit, New York-based Citigroup has reasserted itself in commodities amid a pullback by banks including JPMorgan Chase & Co. and Goldman Sachs Group Inc. Regulatory scrutiny has mounted, with the Federal Reserve warning last month that it may impose new restrictions as lawmakers question whether banks’ role in the markets could threaten financial stability.

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