Traders generate record earnings despite oil crash
The recipe is simple - volatility and scale, according to Trafigura
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.
On Monday, Trafigura, which trades roughly 3 per cent of global oil, reported record earnings just days after Glencore said it was sticki…
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