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

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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.