An important corner of trade finance is becoming riskier for banks and traders dealing with fallout from the coronavirus-inspired market rout and the recent crash in oil prices. It’s a stark reminder of the last oil-price collapse when banks had to set aside additional funds to cover loan losses in the energy sector.
Banks extend credit to companies, including miner Glencore PLC, and privately held trading houses Trafigura Group Pte and Vitol Group, which in turn lend billions of dollars to oil producers by paying upfront...
"oil" - Google News
March 15, 2020 at 09:07PM
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Oil-Price Crash Raises Risk for Banks, Commodity Traders - The Wall Street Journal
"oil" - Google News
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