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Bank Of China Gets Tiny Fine For Negative Oil Price Disaster By Alex Kimani - Dec 11, 2020, 4:00 PM CST
The global oil market descended into a new low in April after oil prices crashed into negative prices for the first time ever.
On April 20, May West Texas Intermediate (WTI) futures contract sunk by an unprecedented 310% to minus $38.45/barrel, marking the first time that a futures contract for U.S. crude prices went negative and wiped out thousands of investors.
Negative oil price is a bizarre situation that essentially means that oil producers have to pay traders to take the worthless oil off their hands.
How High Can Crude Oil Go? - ETF Daily News etfdailynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etfdailynews.com Daily Mail and Mail on Sunday newspapers.
Michael Johnston: ETFs have become so popular in recent years in part because of the tax efficiencies that they offer relative to traditional mutual funds. Due to the nuances of the creation / redemption mechanism, ETFs are generally able to give investors more control over their tax situation–instead of pinning them with capital gains obligations due to the activities of other investors.
Unfortunately, however, the tax treatment of exchange-traded products cannot be summed up simply as being more efficient than mutual funds. There are various complexities across the different product structures that impact the effective tax liabilities that will be incurred on gains. And there are also some nuances that impact how taxes on various ETP positions must be reported that are of major importance to some financial advisors. Gains and losses on the majority of exchange-traded products are reported on Form 1099, just like individual stocks. A select few among a universe of 1,400+ funds,