Traders generate record earnings despite oil crash

London

OIL traders are profiting handsomely from a crude price crash to near an 11-year low, even as it forces energy companies around the globe to slash costs and postpone projects.

From listed giant Glencore through unlisted Swiss privately-held Trafigura, to the trading desks of majors BP and Shell, traders have often done well in times of oil price downturns, and markedly so this time around.