Behind Big Oil’s first-quarter beat: The quiet rise of trading desks

An employee of Basra Oil Company, works at the Nahr Bin Umar Oil and Gas Field on the outskirts of the southern Iraqi city of Basra on April 29, 2026. Hussein Faleh | Afp | Getty Images Oil and gas giants benefited significantly from their trading desks through the first quarter, shining a light on a commercially sensitive and often-overlooked unit that tends to outperform during periods of market volatility. …