Star Oil Trader Yaoyao Liu to Leave Vitol

Yaoyao Liu, a prominent oil trader at Vitol, is expected to depart the commodities firm by the end of 2026. The move follows several hundred million dollars in losses Liu and his team incurred earlier this year due to unsuccessful bets on diesel and crude prices.

Liu wagered that diesel prices would rise relative to jet fuel and that Dubai crude would fall compared to Brent crude. These positions failed after Iran shut the Strait of Hormuz, triggering market moves that contradicted his bets. While Vitol reportedly remained profitable for the year and some losses were recovered, Liu has not been actively trading since the summer.

Sources indicate the departure is for family reasons. Liu previously established himself as a star trader for the firm in 2020, when he earned billions for Vitol by betting on the pandemic's impact on oil markets.