Gunvor Group bemoaned the “market turmoil” unleashed by Donald Trump’s foreign policy and tariff war, as the trading house reported a 71% slump in first-half profit.
It’s the latest sign of a more challenging period for some of the world’s biggest energy-trading firms, which usually thrive on market volatility. Many companies — including Vitol, Trafigura Group and Gunvor — posted record earnings by exploiting the shocks and supply imbalances created by the coronavirus pandemic and later Moscow’s full-scale assault on Ukraine.
This year, however, oil traders have struggled to make money on the erratic price moves triggered by headlines ...
