Nine Essex oil traders made $660m when prices plunged into the red
Nine Essex oil traders made $660m when prices plunged into the red Three traders each made more than $100m earlier this year when US crude prices went below zero for first time 11 December 2020 • 7:33pm Nine independent traders operating from their homes in Essex made $660m (£500m) in a single day of trading oil futures when prices briefly went negative earlier this year. The traders, all affiliated with the small trading firm Vega Capital London, hit the jackpot by capitalising on complex oil market mechanisms to sell oil contracts on falling prices and buy with prices as low as minus ...
Source: telegraph.co.uk