Historically, giant commodity traders such as Switzerland's Vitol, Glencore, and Gunvor as well as Singapore’s Trafigura have dominated the global oil trade while smaller trading desks that lack the wherewithal and deep infrastructure networks of the giants usually feed on crumbs. The same case applied to the Russian market before Putin’s invasion of Ukraine, with Trafigura moving ~850,000 barrels of Russian crude per day at its peak. But the oil hegemony has now been severely disrupted, with Bloomberg…
