Chapter 604: The Downfall of Zhao Qingtian
However, some financial companies that operate 24-hour trading have people on duty, and some senior executives of financial companies are also closely following the trends of financial products.
Only the crude oil futures fund of Zhao Group not only went off work, but also had its permissions locked.
The main reason why they dare to do this is actually that their responsibilities and ideas are different from those of ordinary companies.
General financial companies serve the general public and customers, so they have very high requirements for profits, risks, etc.
This fund company is actually just Zhao Qingtian’s private treasury. It has no performance pressure, a scientific and stable financial mathematical model, and very low risk.
There have not been any major losses over the years.
Even if crude oil futures fell into their hands, the worst that could happen was that they would buy it, ship it back to China, and let the Zhao Group pay for it at the market price, or a price slightly higher than the market price...
That's not a problem.
Therefore, with this kind of insurance , they become more lazy.
But the saddest thing about human beings is that every time a tragedy occurs, they realize belatedly that all their previous experiences were of no use when faced with emergencies.
It was past 8 p.m., the time when nightlife had just begun in Hong Kong and the mainland, but it was just the early morning in Magnesium.
At 9 p.m. and 10 p.m., various departments and companies in the country start working.
At 22:30, the Energy Information Administration of Magnesium held an impromptu press conference and disclosed a series of data.
According to the data they disclosed, the inventory reserves of crude oil in the country increased by more than 30 million barrels compared with last week. The crude oil inventory of the country (excluding the country's strategic oil reserves) has been growing for 20 consecutive weeks. The increase has repeatedly set new highs.
In contrast, the occupancy rate of crude oil inventory storage has been rising.
It has climbed from the low of 23% to the current 67%, which has created a certain storage pressure.
However, due to the current turbulent world situation and the domestic economic downturn, the utilization rate of crude oil has decreased.
They expect that the storage pressure of crude oil may continue to increase, and may reach .
So they issued a warning to the public, asking each company to coordinate storage as soon as possible, or give up buying crude oil futures.
At the same time, when the Energy Information Administration of Magnesium issued a warning, the Magnesium Crude Oil Exchange also issued a similar warning.
In the warning, the exchange reminded all trading parties that the May crude oil delivery date is just 10 days away. By then, trading parties holding crude oil futures must prepare the corresponding storage in advance and make the corresponding delivery.
As soon as the two pieces of news came out, the crude oil futures market began to be in constant turmoil.
The price of crude oil has been fluctuating and seems a bit shaky.
At this moment, Yang Nuannuan, who had already obtained the "operation details" from Chen Yan, began to sell off the large amount of crude oil futures in her hands without hesitation.
Moreover, perhaps because this time she wanted to trick Zhao Qingtian, she sold it at almost no cost, not giving any chance to others.
Ever since Chen Yan verified the feasibility of this plan with Xiao Ha's Polaroid camera, he arranged for Yang Nuannuan to set up a base .
During this period, he held at least tens of billions of crude oil futures.
Therefore, when such a large number of short orders appeared, the entire crude oil futures market plummeted.
The market is blind.
Because of such a huge negative news, coupled with Chen Yan's market crash, many trading parties also began to run away.
As the number of short orders increased, the price of crude oil futures plummeted like a waterfall.
It dropped directly from over 20 to around 10 yuan.
And that’s not all.
I don’t know if today is the end of crude oil futures. After the US Energy Information Administration and the exchange spoke out in succession, the warehouses also timely raised their site rental prices.
It’s not much, just about twice the price of crude oil.
Someone has done the math and found that based on the rental fees of various storage companies, the price of this batch of crude oil is almost astronomical.
As soon as the news came out, some retail investors who were unable to deliver crude oil and small financial companies ran away, and now even large companies doing legitimate crude oil futures business are preparing to run away.
After all, venue fees have skyrocketed now, even more expensive than oil prices.
If they continue to hold this batch of futures, they will suffer huge losses.
It’s better to get rid of it now and admit defeat!
Therefore, when large companies also joined the short side of crude oil futures, the world crude oil price could no longer hold up this time.
Crude oil futures, which had previously fallen from more than 20 yuan to 10 yuan, fell again.
8 pieces, 6 pieces, 4 pieces
When crude oil futures are getting lower and lower.
Something happened that shocked the whole world.
Crude oil futures actually fell below!
It’s not the limit down, it’s fallen through, it’s fallen to a negative number!
At that moment, everyone who was paying attention to crude oil futures was stunned.
This even includes Chen Yan and Yang Nuannuan.
After all, the withdrawal plan Chen Yan got only allowed him to short when the price was over 20 yuan, and then buy when the price was around 2 yuan.
However, this time Chen Yan was only looking for information, not to withdraw cash.
He was already prepared to lose billions of his own money, but also to bring down Zhao Qingtian's billions of dollars.
So, his plan for Yang Nuannuan was: don’t worry about the price, just keep lowering it.
As a result, it's now broken through.
