After multiple investors in a crude-oil futures trading product sold by a major Chinese bank suffered huge losses due to the collapse in global oil prices earlier this week, a blame game has begun. Some of the investors believe that Bank of China (BOC), one of the country’s four largest […]
crude
Global crude inventories to max out in 2 months amid coronavirus
TOKYO/DUBAI/NEW YORK — Global inventories of crude oil are rapidly increasing and may peak in June. But despite demand for gasoline and other petroleum products plunging due to the new coronavirus, oil producing countries are reluctant to cut production. The possibility of oil storage maxing out in two months cannot […]
Singapore oil trader Hin Leong battered by crude crash
SINGAPORE — One of Singapore’s foremost oil traders, Hin Leong Trading, is now struggling to stay afloat amid a plunge in crude oil prices and greater scrutiny by banks that has left it facing a cash crunch. The company had by Wednesday submitted a court filing requesting a moratorium on […]
Coronavirus latest: US crude futures turn negative for first time
The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan. Global cases have reached 2,285,210, according to the World Health Organization. The worldwide death toll has hit 155,124. To see how the disease has spread, click this interactive virus […]
Coronavirus latest: US crude plunges as low as $1 a barrel
The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan. Global cases have reached 2,285,210, according to the World Health Organization. The worldwide death toll has hit 155,124. To see how the disease has spread, click this interactive virus […]