One of the biggest stories about JP Morgan this year was the bank’s decision to sell its physical commodities business to Switzerland-based trading house Mercuria – a deal agreed in March. The transaction had not yet closed as Energy Risk went to press, but even after it is completed, JP Morgan is likely to remain a major player in Asian oil and products.

At a time when some of its rivals are exiting the commodities business entirely, the firm’s reach sets it apart from many of its competitors