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…Two Top Commodity Traders Bet Big On The Future Of Oil
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