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The Guardian - UK
The Guardian - UK
Business
Alex Lawson Energy correspondent

Oil prices fuel doubling of profits from global commodities trading, report finds

Oil Trafigura Vitol Ukraine McKinsey McKinsey Company
Tanker at the port of Corpus Christi in Texas
Atanker at the port of Corpus Christi in Texas. McKinsey & Company said oil trading increased by more than 90% to $18bn in four years. Photograph: Bloomberg/Getty Images

Profits from global commodities trading for companies including Vitol and Trafigura have nearly doubled to more than $50bn (£30bn) in recent years, driven by volatile oil prices, fresh analysis has shown.

Global commodities trading profits ballooned to about $52bn of profits in 2021, up from $27bn in 2018, and are expected to continue to grow, according to a report by consultancy McKinsey & Company.

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