Commodities
Top Oil Traders Are Getting More Bullish by the Day
- Vitol says global demand may grow almost as fast as last year
- Hedge fund Citadel says market is getting “extremely tight”
The views of leading trading houses have shifted markedly in just a few weeks.
Photographer: Mario Tama/Getty ImagesThis article is for subscribers only.
The world’s biggest commodity traders are increasingly confident of a bullish oil market into the second half of the year after prices pierced $90 a barrel for the first time in months.
At an annual gathering in Lausanne on the shore of Switzerland’s Lake Geneva, some of the most senior figures in commodities markets lined up to paint an optimistic outlook for demand — and prices — later this year.