Oil traders look to petroleum product bitumen

The world’s largest oil traders are scraping the bottom of the barrel in search of their next big opportunity.

Vitol Group and Trafigura Group’s Puma Energy are adding ships and storage to trade bitumen, a thick, syrupy petroleum product used to make asphalt for roads and tar for roofs.

Transport of the material, traditionally by truck, train, or barge from refineries to local builders, has swelled into a global marketplace as demand climbs far from the source of production.