The largest commodity traders in the world are still making significant profits, although the markets have become less volatile after Russia's invasion of Ukraine. Despite the decrease from the peak years of 2022-2023, executives at major trading firms mentioned during the FT Commodities Global Summit that their earnings for 2024 and the first quarter of 2025 are expected to be higher than most periods in history.

These trading companies, among the top in terms of annual turnover, are mostly privately owned and do not always disclose their financial results. Since the Ukraine invasion and subsequent energy crisis, leading energy traders like Vitol Group, Trafigura Group, Mercuria Energy Group Ltd., and Gunvor Group have collectively raked in over $50 billion in profits during 2022 and 2023.

Although market volatility and prices have calmed down from the peak levels of 2022, the industry continues to benefit from trade disruptions such as tariffs, sanctions, and the Red Sea crisis. Major players are also profiting from investments in assets and expansions into new markets, which have helped soften the decline in trading profits.

Reports suggest that Vitol's 2024 profits were slightly lower than the previous year's $13.2 billion, while Trafigura is tracking to achieve a net profit for the half-year ending in March similar to the previous two reporting periods. Trafigura's CFO, Stephan Jansma, stated at the recent conference that the company's financial performance has reached a new stable level.