Vitol Group’s derivatives desk has reportedly incurred several hundred million dollars in losses after mistimed positions on crude and refined products during the recent Middle East conflict, according to the Wall Street Journal. The moves came as disruptions near the Strait of Hormuz triggered a sharp spike in prices for Oil – Brent Crude and Oil – US Crude, highlighting the difficulty of positioning around sudden supply shocks.
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Over the past month, Oil – Brent Crude has fallen about 7.24%, while Oil – US Crude is down roughly 3.58%, suggesting that the initial war-driven price spike has partially unwound. Both contracts currently flash a 1-day technical signal of Hold and Hold, respectively, indicating short-term indecision as traders reassess geopolitical risk versus softening momentum. Investors can explore more updates, prices, and analysis across global markets at Commodities.
