17.02.2015 - Oil traders celebrate market rout
For some the lavish party thrown by Socar, the state oil company of Azerbaijan, during International Petroleum Week, was a chance to drown their sorrows and forget about the market. But for others enjoying the hospitality at the Grosvenor House Hotel on London’s Park Lane there were reasons to celebrate. After several years of flat markets, falling profits and declining margins, oil traders are enjoying the most favourable trading conditions they have seen since the global financial crisis in 2008. For the big players such as Glencore, Gunvor, Mercuria, Trafigura and Vitol, which source, store and transport crude oil and related products, the market rout may be a boon...............................................Full Article: Source
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