In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
Commodities declined from the highest level in almost six months on speculation that the threat to energy and agricultural supplies from escalating tension in Ukraine’s Crimea region may be exaggerated.
Russia justified its intervention in the Crimea as a legitimate response to a request from Ukraine’s ousted president amid threats posed by extremists, while Western leaders sought to keep the standoff from spiraling into war.
Stocks slid, with an index of global equities tumbling the most in a month, while the ruble weakened to an all-time low as Russia’s growing military presence in Ukraine prompted an emerging-market selloff. The yen, U.S. Treasuries and gold rose as investors sought havens.