Bank of America Merrill Lynch shuts European power, gas desk

LONDON Tue Jan 7, 2014 7:17am EST

The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip

The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013.

Credit: Reuters/Bobby Yip

LONDON (Reuters) - Bank of America Merrill Lynch has closed its European power and gas desk following low demand for power and gas hedging and regulatory changes, a company spokesperson said on Tuesday.

"The bank will continue to trade coal, commodity indices, oil, metals and US power & gas from its Houston, London, New York and Singapore offices," the spokesperson said.

(Reporting by Karolin Schaps; editing by Keiron Henderson)