'Insight - Wall Street reshapes commodities business to fend off regulation' by David Sheppard NEW YORK | Mon Jul 22, 2013 11:33am BST "(Reuters) - Wall Street's most powerful banks have accelerated efforts to transform the structure and focus of their commodity trading desks to preserve their multibillion dollar empires from tightening regulation." - lots more: http://uk.reuters.com/article/2013/...me=GCA-GoogleNewsUK&google_editors_picks=true
The real message here is that if a trader has access to the underlying physical deliverable, it is a huge advantage. Notice the infrastructure that is mentioned in the article ( tankers, storage, power plants ).