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[size=36]The worst oil exchanges ever. Heroes are people and institutions[/size]
Economy | 08:26 - 03/11/2019
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The Secretariat is one of the rarest commodities in the financial community, as greed, secret transactions, questionable ethics and all kinds of irregularities are rampant on Wall Street.
In his report published by Oil Price, Alex Kimani said that such practices prompted the Obama administration to draft the Dodd-Frank Act a decade ago.
Indeed, it is easy to assume that only Wall Street's major banks - such as Bank of America and Walls Fargo - can manipulate markets.
However, history is full of single traders or a small group of traders who have shaken the oil markets.
Trump's mystery and lucrative oil deals
No one accuses US President Donald Trump of manipulating markets, but the stock markets are moving when Trump posts tweets intensively, and his Twitter activities are not causing changes in the market.
Instead, some mysterious bets in stock markets leave traders in shock and awe over their accuracy and timeliness. In the stock market.
According to the writer, the trader or traders mentioned the sale of about 120 thousand futures contracts traded electronically available on the Standard & Poor's 500 index on Friday, September 13, before the closure of the Chicago Mercantile Exchange.
A few hours later, drones attacked large swathes of Saudi Arabia's oil infrastructure, paralyzing production and increasing oil prices.
In his report published by Oil Price, Alex Kimani said that such practices prompted the Obama administration to draft the Dodd-Frank Act a decade ago.
Indeed, it is easy to assume that only Wall Street's major banks - such as Bank of America and Walls Fargo - can manipulate markets.
However, history is full of single traders or a small group of traders who have shaken the oil markets.
Trump's mystery and lucrative oil deals
No one accuses US President Donald Trump of manipulating markets, but the stock markets are moving when Trump posts tweets intensively, and his Twitter activities are not causing changes in the market.
Instead, some mysterious bets in stock markets leave traders in shock and awe over their accuracy and timeliness. In the stock market.
According to the writer, the trader or traders mentioned the sale of about 120 thousand futures contracts traded electronically available on the Standard & Poor's 500 index on Friday, September 13, before the closure of the Chicago Mercantile Exchange.
A few hours later, drones attacked large swathes of Saudi Arabia's oil infrastructure, paralyzing production and increasing oil prices.
When the Chicago Mercantile Exchange opened again on Sunday night, the S&P 500 fell nearly 30 points, helping traders reap huge profits of $ 180 million within days.
The Aramco attack was not an isolated incident
The writer pointed out that the attack on Aramco was not an isolated incident. On September 11, the Beijing government announced that it would raise tariffs on a range of US products, and the same day President Trump announced that he would postpone tariffs Chinese goods.
As expected, this reflected positively on the oil markets, with the S&P 500 up by 47 points, and by chance someone bought 82,000 futures contracts electronically a day before these measures were taken, and the lucky trader gained about $ 190 million for one working day. .
Moreover, a trader bought 420,000 futures contracts online electronically on June 28. A day later, Trump announced that stalled trade negotiations with China were “back on track”, and the following week the S&P 500 gained about 84 points. The trader made huge profits of $ 1.8 billion.
Losers
Although it is difficult to prove the identity of futures traders electronically who appear to be manipulating the market, there are well-documented cases of reckless traders who have lost a lot of money because of their greed.
One of the most important traders, Enar As, is one of Norway's richest men, who lost everything he had last year after taking part in some of the overly ambitious energy market bets.
AS secured an advance from the Nasdaq which was very large compared to the liquidity available in the market.
The Aramco attack was not an isolated incident
The writer pointed out that the attack on Aramco was not an isolated incident. On September 11, the Beijing government announced that it would raise tariffs on a range of US products, and the same day President Trump announced that he would postpone tariffs Chinese goods.
As expected, this reflected positively on the oil markets, with the S&P 500 up by 47 points, and by chance someone bought 82,000 futures contracts electronically a day before these measures were taken, and the lucky trader gained about $ 190 million for one working day. .
Moreover, a trader bought 420,000 futures contracts online electronically on June 28. A day later, Trump announced that stalled trade negotiations with China were “back on track”, and the following week the S&P 500 gained about 84 points. The trader made huge profits of $ 1.8 billion.
Losers
Although it is difficult to prove the identity of futures traders electronically who appear to be manipulating the market, there are well-documented cases of reckless traders who have lost a lot of money because of their greed.
One of the most important traders, Enar As, is one of Norway's richest men, who lost everything he had last year after taking part in some of the overly ambitious energy market bets.
AS secured an advance from the Nasdaq which was very large compared to the liquidity available in the market.
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