How Trafigura Extracted Record Profits From Oil Market Carnage

  • 📰 Forbes
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 53%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Here's how Trafigura extracted record profits from oil market carnage:

What explains this remarkable consistency? The reason has to do with the way oil is bought and sold. In the wake of any large oil price drop, the price of oil for purchase immediately is often lower than the price of oil for purchase later . Traders have a name for this type of price disparity between spot and forward prices: contango.

For companies with the ability to store oil, it was manna from heaven. Working feverishly from home, oil traders sprang into action.show that Trafigura was among those rushing to secure floating storage — often in the form of oil tankers — to hold onto oil in April and early May as prices languished. Trafigura increased the size of its fleet by almost 70 percent over the course of the year, at the peak controlling more than 220 owned and time-chartered vessels , Trafigura said in its.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

💥BITCOIN IS BLASTING OFF TODAY! BEST LOOT EVER!! If it breaks $20k it is supposed to skyrocket in price!! Insert nerd 🤓dancing here!! Bitcoin -✨✨✨✨💥💥🚀MOONROCKET!🌙🪐

Invest by buying low, sit on it, and sell when a spike in demand has occurred. Reap in the profits. A great tactic if you've got financial muscles such as business partners and large capital.

90% of news about covid and trump

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 394. in BE

Belgique Dernières Nouvelles, Belgique Actualités