Two Top Commodity Traders Bet Big On The Future Of Oil ...Middle East

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Two Top Commodity Traders Bet Big On The Future Of Oil
source : OILPRICE ( Middle East ) () 28
Two commodity trading giants are betting big on a Russian oil project in a rare move that could make or break the oil traders’ fates - and oil market observers should be paying close attention. When commodity trading major Trafigura bought a 10-percent stake in Rosneft’s Vostok Oil project, oil prices were trading below $50 per barrel. There were also forecasts that oil demand may never recover to pre-pandemic levels and that oil, in general, was on its way out. Now, Trafigura’s peer Vitol has joined the company in its bet on…

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