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18 Apr 2022

American Commodity Trading Exposures Mount due to Ukraine-Russia Crisis

The Index Today

First quarter earnings report revealed that Wall Street banks’ commodity trading exposures are on the rise which could possibly subject them to large swings in asset values following the Russian invasion of Ukraine.

As per Reuters’ analysis of bank filings, JPMorgan Chase & Co and Goldman Sachs Group recorded a rise in a commodities trading risk measure with that of the latter’s soaring to the highest levels in the past 10 years. Since Russia invaded Ukraine in late February, commodity prices, including that of oil, wheat, and precious metals, have surged in the wake of resulting Western sanctions against the Kremlin.

JPMorgan Chase & Co.’s average daily trading VaR in commodities soared to $15 million during the first quarter, higher than the previous quarter’s $12 million. The bank also exceeded $12 million for equities and $4 million for foreign exchange, reported Reuters.

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