At the end of last year, the gross profit from world commodity trade reached a record $115 billion. One of the main reasons for the growth was the high volatility in foreign exchange prices for various types of energy products. informs The Financial Times cites statistics from analysts at Oliver Wyman.
“The commodities industry generated a record gross profit of more than $115 billion from commercial activities last year, as volatile energy prices caused by the war in Ukraine caused huge market fluctuations,” the material says.
However, large private traders, including Trafigura, Vitol and Glencore, benefited the most from the high volatility in energy stock prices. Ernst Frankl, partner at consulting firm Oliver Wyman and one of the authors of the report, described the current market environment as a “perfect storm” for independent traders.
“This year has been a perfect storm for all commodities in terms of trading opportunities. Volatility is what traders need to increase their trading volume in monetary terms,” he said.
March 3, Head of European Diplomacy Josep Borrell declarationIf all countries refuse to buy oil from Russia, the global market for this type of fuel will be “very unstable”. Therefore, the European Union is “not at all concerned” about India’s continued purchase of oil from the Russian Federation.