Yaoyao Liu, a renowned trader at Vitol, the largest oil trading company globally, faced substantial losses estimated in the hundreds of millions of dollars due to misguided trades during the early stages of the Iran war. His bets on rising diesel prices relative to jet fuel and a decline in Dubai crude prices went awry when Iran's actions disrupted the oil market. Despite these setbacks, reports indicate that Liu's team has recovered some of the losses, and Vitol remains profitable for the year. Founded in the 1960s in Rotterdam, Vitol is pivotal in the global oil economy, handling 8 million barrels of oil daily, enough to supply major economies like Japan and Germany. The company has also set up a $3 billion credit line to manage potential cash calls due to market volatility but has not yet needed to use it. The recent conflict has posed additional challenges, including attacks on its vessels in the Persian Gulf, complicating its operations. Nevertheless, Vitol's strong financial position, bolstered by profits from previous years, positions it to navigate ongoing market turbulence effectively.