Vitol First-Half Net Said Down 42% as Oil-Trading Boom Ends
- Largest independent oil trader earned $546 million in 1st half
- Weakening contango and volatility dents trading opportunities
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Vitol Group posted a 42 percent decline in first-half profit as the world’s largest independent oil trader grappled with fewer opportunities to benefit from energy-market price swings.
Profit at the Rotterdam-based company fell to $546.4 million in the six months to June 30, from $938.7 million a year earlier, according to a person familiar with the matter, asking not to be identified because the results aren’t public.