Azernews.Az

by Alimat Aliyeva

Traders from the French energy company TotalEnergies purchased nearly all available oil shipments from the UAE and Oman for May delivery, earning more than $1 billion in March, AzerNEWS reports.

According to market sources, around 70 cargoes were acquired in total, roughly twice the volume purchased in the previous month.

Demand for Murban and Oman crude grades surged amid rising tensions around the Strait of Hormuz, a key global oil transit route. This situation pushed prices higher and boosted trading activity by approximately 50%.

In response, TotalEnergies significantly increased its purchasing volumes and generated substantial profits, partly through the use of financial instruments such as futures, options, and swaps.

It is also worth noting that on March 13, the company announced the suspension of production in Qatar, Iraq, and offshore fields in the UAE.

Interestingly, analysts point out that the Strait of Hormuz handles around one-fifth of the world’s oil supply. This means that even minor disruptions or geopolitical tensions in the region can have an outsized impact on global energy markets, often creating both risks and lucrative opportunities for major trading companies.