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Traders generate record earnings despite oil crash

The recipe is simple - volatility and scale, according to Trafigura

Using oil storage, now a popular ploy, helped traders exploit a contango price structure in which immediate delivery oil is discounted, and so can be stored and sold later at a healthy profit.


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...

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