At the end of the last decade, Investment Banks dominated commodity trading. The best results, the biggest seats and the best paid. A few short years later and the majority had scaled back or exited. Why? What drove their success and their exit. Now, in the foothills of a commodity super-cycle and the volatility of the energy transition will we see the banks return? The 2021 results, matching the previous highs, of those few banks who stuck it out suggests so. And what will be different this time? Our guest is Kevin O'Reilly, veteran of the most successful banks in commodities, who takes us on this sweep of commodity banking history.