As lawyers for Mercuria Energy Group presented the commodity giant’s case against the Baltic Exchange this week, a group of smartly dressed Norwegian businessmen listened intently to the arguments from the back of a packed London courtroom.

Trafigura Group and Mubadala Capital have shelved plans to sell a Brazilian iron ore port after offers came in below what the sellers were seeking amid a cloudy outlook for the commodity, according to people familiar with the matter.

Metals traders are earning billions of dollars in a second consecutive blowout year for the sector, with several top trading houses notching up record profits.

Several oil traders at Macquarie Group Ltd. have left the firm, with the departures coming as the bank merges two of its main commodity-trading units.

Yaoyao Liu, whose trading in oil derivatives made billions of dollars for Vitol Group over a career marked by dramatic highs and lows, is leaving the commodities trading giant.

The threat of Trump tariffs is driving huge demand for the red metal.

Mercuria Energy Group has placed another big bet on copper production in the Democratic Republic of Congo, sealing a deal to buy metal from units of Shanghai Jayson New Energy Materials Group.

A Jefferies-run fund said in court proceedings that it has evidence of alleged fraudulent conduct by iron ore traders Radiant World and Sapphire Minmetals in receivables-financing deals with a face value of almost $900 million.

Trafigura Group bought seven oil tankers from New York-listed SFL Corp., in the latest example of how trading houses and state energy companies are acquiring vessels to ship crude and products.

Oil inventories in western countries have been exhausted as a result of the Iran war, the boss of the world’s largest independent oil trader said, warning that fuel markets are likely to remain tight going into winter.

Commodities trader Gunvor Group renamed itself Centalion Group Ltd. and plans to redomicile its corporate headquarters to Singapore, a shift for the firm’s new owners after historic ties to Russia drew the ire of the US Treasury last year.

A trader at Vitol Group in India confirmed at least one transaction between his company and Radiant World that Vitol later said wasn’t genuine, adding a further layer of complexity to a saga that has drawn in some of the biggest names in commodity trading.

Hadi Hallouche, who helped run Trafigura Group’s oil business and was a CEO contender before departing last year, has set up a new trading firm called Oxitera SA.

Oil giant Saudi Aramco has been looking to secure thousands of tons of diesel in the Mediterranean after a series of attacks on its energy facilities over the past few weeks.

Venezuela se prepara para enviar aluminio a EE.UU. mediante un acuerdo con Mercuria Energy Group Ltd. y Heeney Capital, en una señal de que la rápida reactivación de los lazos comerciales entre ambos países comienza a extenderse más allá del petróleo tras años de aislamiento económico y diplomático.

Venezuela is preparing to ship aluminum to the US under a deal with Mercuria Energy Group Ltd. and Heeney Capital, with the latter also planning to invest in a Venezuelan gold mine, accelerating a revival of commercial ties beyond oil.

Two leading commodity trading houses have seen their profits soar, according to company financials seen by Bloomberg News, highlighting how the war in Iran has created a bonanza for the traders and their top executives.

The world’s oil supertankers are making unprecedented sums sailing from the Persian Gulf as Iran keeps attacking ships — with one South Korean shipowner in particular profiting from the situation.

Blue-chip firms lent their money, connections and reputations to the little-known iron ore trader. Now several of them are counting their losses.

Vitol said its renewables arm had acquired a data center campus in South Carolina from Meridan Gridworks, one of the first instances of a major commodity trader delving into artificial intelligence infrastructure.