Trading crude blows


Banks, ever eager to enter a growing and profitable market, have set theirsights on marketing oil derivatives. Rothschild has established a trading presence,Bank of America is building on its impressive corporate client franchise, MorganStanley remains an oil trading powerhouse and Société Générale(SG) is a constant innovator – particularly in Asia. But as such firmsbolster their own oil derivatives business, should oil companies offering similarservices be worried?

Oil majors saw Enron make