Navnoor Bawa

Navnoor Bawa

How Trafigura Turned a $100M Arbitrage into a $55M Fraud: Deconstructing the USGC-Singapore Fuel Oil Manipulation

The most expensive lesson in commodity trading: when legitimate strategies cross into market manipulation

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Navnoor Bawa
Sep 09, 2025
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Geographic arbitrage in fuel oil markets: legitimate until it isn't

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