Energy M&A/Trading House/Stay at Current Shop

Looking for some advice - recently graduated from an Ivy League but now based in London. Interning on a small commodities trading desk but not looking like I will get a FT role. Any ideas what the best strategy would be? Would love to be in physical trading in the long run but the big trading house (Glencore, Trafi etc.) grad schemes are absurdly difficult to get into. 

Application season is kinda over now so just feel like I am a bit out of options if my firm cuts me soon...

Should I look at joining Energy M&A teams off-cycles? A different small commodities desk? Try and hold down the internship till application season? 

Would appreciate any advice - thanks a lot. Feeling a bit lost. 

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