Total's "Oil Sweep + Long" Strategy Rakes in Over $1 Billion, Potentially Setting Record for Largest Single Oil Market Profit

BlockBeats News, March 30th. Due to the escalation of the Middle East situation and the blockage of the Strait of Hormuz, TotalEnergies made large-scale purchases of Middle East spot crude oil in March and implemented a derivative long strategy, accumulating over $1 billion in profits, potentially achieving the largest single trading profit in the history of the oil market.

Reports indicate that TotalEnergies "fully chartered" about 70 vessels for loading in May with UAE and Oman crude oil, doubling its procurement scale compared to February. Against the backdrop of a sharp decline in market liquidity, TotalEnergies took a leading position, causing the price of Dubai crude oil to soar from around $70/barrel to $170/barrel.

Industry insiders pointed out that in a disrupted pricing benchmark environment with reduced deliverable crude oil, TotalEnergies utilized coordinated positions in the "paper markets" through futures, options, and other tools to significantly influence prices. Meanwhile, high oil prices have also intensified cost pressures on Asian buyers, further impacting the existing crude oil pricing system.