The Energy Trading Edge: How Hedge Funds Built the Infrastructure to Extract Billions From Energy Markets — While Oil Majors Watched

From Amaranth’s $6.6 Billion Collapse to Citadel’s $8 Billion Year: The Physical-Financial Integration Playbook Every Major Fund Is Now Copying

Feb 23, 2026

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Sourced from court documents, Senate subcommittee reports, FERC enforcement dockets, primary interview transcripts, Bloomberg, Fortune, and reported primary data. Every number is cited inline.

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