New Oil Traders Fill Void as Top Names Abandon Moscow Ties
Signs of increased purchasing by Chinese teapot refineries
Moscow-linked Litasco becoming a more prominent trader
With the world’s largest oil traders scaling back Russian crude exports, the market is trying to figure out who is going to fill the void.
The answers include a medium-sized Geneva-based trader with close ties to Moscow, several smaller firms that are getting more active, and some completely new names including one called Bellatrix -- the name of a bad wizard from the world of Harry Potter.