Goldman Sachs' commodities team reportedly raked in $3 billion in 2022, with wild swings fueling one of its best years ever
, marking one of their best performances as they profited from sharp price swings set off by Russia's war against Ukraine.
Sources told Bloomberg that commodities trading alone brought in over $3 billion, well above revenue of about $2 billion in the prior two years and approaching the high of $3.4 billion in 2009. The commodities team navigated through a turbulent market in 2022 for natural resources, highlighted by big price swings for energy, metals and agricultural products after Russia invaded Ukraine in late February.
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