World’s Top Oil Traders See Boom Years Fade as Volatility Tanks
- Shocks from Covid-19, Russia-Ukraine war have diminished
- Prices set for narrowest range since 2004 so far this year
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The world’s top commodity merchants are grappling with a tougher environment for trading oil as seismic market events of the past few years start to lose their impact.
The slowdown is being felt everywhere, from the likes of Glencore Plc and Gunvor Group — where profits are down — to hedge fund boss Pierre Andurand, who ditched oil trades for bets on copper and cocoa. While industry titans are still profitable, these are no longer the blockbuster figures banked since 2020.