the logo for goldman sachs is seen on the trading floor at the new york stock exchange nyse in new york city new york us november 17 2021 reutersandrew kelly register now for free unlimited access to reuterscom register london sept 9 reuters  investment banks are set to make a recordbreaking 20 billion trading and financing commodities like oil gas and metals in 2022 more than triple what they earned in the years before covid19 analytics firm coalition greenwich told reuters banks such as goldman sachs gsn citi cn and macquarie mqgax have benefitted from massive volatility and supply chain disruption in commodities markets that began in 2020 and increased this year with russias invasion of ukraine skyhigh commodities prices have pushed inflation to multidecade highs stifled the global economy and created a costofliving crisis in many countries but volatile markets mean banks can make more money by trading commodities and offering financing risk hedges and other services to clients ranging from traders and funds to utilities and airlines commodities trading desks have benefitted from the unprecedented volatility said michael turner at coalition vali analytics another firm that tracks banks earnings said it expected investment banks to make net earnings of 18 billion in commodities this year others have also cashed in with commodity traders such as glencore glenl and trafigura and energy firms with trading arms such as bp bpl reporting bumper profits read more nl1n2xw24n  read more before the pandemic big banks glory days in commodities seemed to be behind them during the financial crisis of 200809 investment banks were making around 16 billion a year according to vali banks controlled ships warehouses and infrastructure that moved and stored goods and could make money by speculating on price moves but tightening regulation in the 2010s forced them to downsize and ban inhouse speculation and by 2017 net earnings had shrunk to 46 billion coalition data shows from 2020 profits surged most commodity prices plunged when the coronavirus hit then rallied supply dislocations handed huge profits to companies able to access materials and trade across markets when russia a major commodities producer invaded ukraine in february prices shot up the world economy then veered towards recession and prices of most of them slumped though natural gas continues to surge read more in the first six month of 2022 investment banks made 66 billion in oil and gas markets almost the same amount they made in the whole of 2021 coalition data show in metals they earned 31 billion in januaryjune compared to 46 billion in all of 2021 in agricultural markets they made 600 million twice the 300 million they made in 2021 other major commoditytrading banks include jpmorgan jpmn bank of america bacn bnp paribas bnpppa and morgan stanley msn