Wall Street Commodity Traders Set for Worst Year Since Pre-Covid

The world’s biggest banks are heading for their worst year in commodities trading since before the pandemic as years of lucrative volatility ease off.

More than 250 firms including Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase & Co. are forecast to see combined net revenues of $10.6 billion in 2024, shaving nearly a fifth off of last year’s total, according to data compiled by Coalition Greenwich, one of the top data providers on Wall Street. Market turbulence has subsided after Covid-19 restrictions and Russia’s invasion of Ukraine shredded supply chains and triggered whipsaw price moves.