23 Hrs
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المشهد العربي
Commodity traders see profit rise from volatility
The commodity trading companies Mercuria Energy and Genfor Group achieved record profits as a result of increased volatility in global markets and energy supply disruptions caused by geopolitical tensions in the Middle East. Mercuria experienced a 122% rise in profits over the nine months ending in June, while Genfor's profits surged by 644% during the same period, reaching approximately $909 million in the first half of the year. Both companies announced a policy of withholding dividend distributions for most of the year, with Mercuria's equity rising by 33% to $8.06 billion.
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