Oil Traders Not Sure They Like Oil… Bloomberg

April 28, 2020 by Jim Colburn Leave a Comment

Matt Levine, Bloomberg, writes:

”One important point in that story is that most big financial investors had gotten out of the May oil futures before they went negative. What happened last Monday was not a last-minute stampede of big exchange-traded funds out of the May futures; it was a relatively small number of investors stuck in the contract after everyone else got out. 1 For instance there was a Chinese retail “product that the state-run Bank of China dubbed Yuan You Bao, or Crude Oil Treasure””

Thank you, Matt!
And this was on Twitter:

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