Who Made Money on Plunging Oil Prices?

The video discusses the role of oil traders, who are largely anonymous and not typically associated with big oil companies. In 2015, these traders had a successful year due to market volatility and low oil prices, which allowed them to trade more with the same capital. The concept of contango, where traders buy cheap oil and store it for future sale at higher prices, is explained. Both independent and major oil companies engaged in trading, with companies like BP reporting significant profits. Despite a strong 2015, traders face challenges as they start 2016 from scratch, with costs impacting their initial positions.

In what ways did the volatility of oil prices impact trading strategies?

What challenges do oil traders face in maintaining profitability after a successful year?