business
Behind Big Oil’s first-quarter beat: The quiet rise of trading desks
Key takeaways
- Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
- Europe's oil supermajors Total Energies, Shell and BP all pointed to robust trading results as they reported stronger-than-expected profits through the first three months of the year.
- Oil trading desks are specialized divisions that buy, sell and transport physical oil and gas while managing price risks.
Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
Oil and gas giants benefited significantly from their trading desks through the first quarter, shining a light on a commercially sensitive and often-overlooked unit that tends to outperform during periods of market volatility.
Europe's oil supermajors Total Energies, Shell and BP all pointed to robust trading results as they reported stronger-than-expected profits through the first three months of the year.
Article preview — originally published by CNBC. Full story at the source.
Read full story on CNBC →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from CNBC alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop