How Elite Traders Made $250B from Commodities (2022-2023): Citadel’s $8B, Vitol’s $15B, and the Verified Strategies Behind Record Profits

The commodity trading industry generated $150 billion in gross margin in 2022 and $100 billion in 2023—$250 billion across two years, representing the highest back-to-back performance on record. While headlines focused on Russia-Ukraine disruption and energy volatility, the systematic alpha came from three sources: physical infrastructure control, regul…