Bloomberg reported on commodity trading firms reaping gains.
Bloomberg reported on commodity trading firms reaping gains. If these firms are not doing so at times like this they are not doing thier jobs.
Summary: Major commodity traders post strongest profits since Ukraine war boom Dislocations in physical oil markets drive exceptional margins Reports of $20–$30 per barrel trading profits highlight extreme conditions Near-closure of Hormuz triggers scramble for immediate supply Volatility remains elevated, with risks from geopolitics and price swings The world’s largest commodity trading houses are generating substantial profits as the Iran war reshapes global energy markets, with extreme volatility and supply disruptions creating conditions that favour experienced physical traders. Early indications suggest that 2026 could become one of the most profitable periods for the sector since the surge seen during the Russia-Ukraine conflict, with several leading firms already reporting standout performance. Privately held trading giants, including Vitol, Trafigura, Gunvor, and Mercuria, are understood to be benefiting from sharp dislocations across oil and broader commodity markets.
Vitol is said to have generated around $2 billion in profit in the first quarter alone, while Trafigura has posted two of its strongest quarters on record, supported by both energy and metals trading. Gunvor has indicated that its first-quarter earnings exceeded those of the entire previous year, and Mercuria expects returns near the top end of its historical range, implying multi-billion-dollar profits. The scale of profitability reflects highly unusual market conditions.