Combined net revenues in commodities from the 12 largest global banks jumped to $3.8 billion in the first half of 2020, to surpass $7 billion for the year as a whole, according to Bloomberg, sourcing data from Coalition Development Ltd.
This could be Wall Street’s best year in resources since 2011.
The surge in trading revenues, up 95 percent from a year ago, came as oil prices in April plunged below zero for the first time in history.