Volatile oil a drag on govt coffers


Dateline 2019-06-08, The Star:

THE first three months of the year have been the best quarter for oil traders in recent years. Vitol, which is the largest independent energy trader in the world with 350 partners spread across the globe, made a clean profit of US$600mil (RM2.48bil) in the first quarter from the trading of oil.However, repeating the feat would be difficult.

Even the most seasoned of oil traders feel that oil would be volatile in the next few months and predicting the direction of the market is rather complicated.

The top trader in London-based Merchant Commodity Fund, Doug King, has described the oil market as greatly uncertain because traders are grappling with the dynamic forces of supply and demand.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: