Vitol reports billion-dollar profit in the first quarter - BN
Energy trader Vitol says that profit for the first quarter amounted to around $2 billion. That is reported by Bloomberg, citing sources.
ANNONS
The figure is preliminary and may be adjusted when the financial statements are finalized.
The profit comes despite losses in derivatives trading linked to price movements after the war in Iran, while other parts of the business have performed strongly and the company maintains good liquidity. The conflict has created large price movements in energy markets, which has led to both gains and losses.
