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My working hypothesis is that the extreme volatility in the energy markets has largely led to losses. No one can make money when prices are soaring and collapse by $20 in a few days. --- https://t.co/S30XPZwVcq Vitol Group is reorganizing its derivatives team in London, just weeks after the energy trading giant incurred significant mark-to-market losses in the early days of the Iran war, according to people familiar with the matter.