Trafigura Profit Doubles as Oil-Trading Rebound Offsets Metals

From bnnbloomberg.ca

Trafigura Group Ltd. racked up a 92% gain in profit in the first half of its financial year, taking advantage of price swings in the petroleum market and a dominant position exporting crude from the U.S. Joining peers in a strong performance, the third-biggest independent oil trader’s net income jumped to $426 million in the six months to March 31, up from $222 million a year earlier. That’s the Singapore-based company’s first profit gain for the period since 2015. A solid performance from Trafigura’s crude oil, gasoline, wet freight and liquefied natural gas trading desks offset a weaker outing from metals and ... (full story)