The Oil Trading Boom Has Finally Fizzled Out

Over the past three years, giant trading houses and trading desks of Big Oil companies have taken advantage of the extreme volatility in oil and energy prices to make a killing in the markets. Beginning 2021, dozens of oil and commodity traders including Vitol, Trafigura Group, Glencore Plc (OTCPK:GLCNF), Gunvor Group and Mercuria saw their profits explode thanks to their ability to leverage their storage facilities, global network of terminals and shipping fleets to cash in on supply disruptions and soaring energy prices.  Thereafter, volatility…