Gunvor Profit Slumps as Trump Jeopardy Too Wild for Oil Traders

Gunvor Group bemoaned the “market turmoil” unleashed by Donald Trump’s foreign policy and tariff war, as the trading house reported a 71% slump in first-half profit.

It’s the latest sign of a more challenging period for some of the world’s biggest energy-trading firms, which usually thrive on market volatility. Many companies — including Vitol, Trafigura Group and Gunvor — posted record earnings by exploiting the shocks and supply imbalances created by the coronavirus pandemic and later Moscow’s full-scale assault on Ukraine.

This year, however, oil traders have struggled to make money on the erratic price moves triggered by headlines ...