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Free Web Novel,Novel online - All in oicq.net -> Romance -> super energy power Text Chapter 642 A river of blood
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- Traders entered the trading pool full of uncertainty.
They all watched the morning news and yesterday¡¯s electronic trading. Most of them also listened to the company analysts¡¯ reports, but few people were still able to make a firm judgment on today¡¯s price.
As for correct judgment, such a thing never exists.
An execution trader operating on behalf of a client first gave today¡¯s price: ¡°Sell, $15.55, 200 lots.¡±
A quote that is 10 cents lower than yesterday¡¯s closing price shows that his customers are still bearish on the market.
No one traded with him immediately, but someone immediately proposed a new price: "Sell, $15.52, 300 lots."
This time it¡¯s 13 cents lower.
After a moment¡¯s hesitation, the trader from Industrial Bank across the street raised his hand and swallowed 300 lots of crude oil at US$15.52.
Then, three traders immediately sold nearly a thousand lots of crude oil at the same time, and the price was still $15.52.
Xingye¡¯s trader hesitated again. After buying a 200-lot share, he found that no one took the order, so he simply stopped and waited.
Traders are all used to this kind of thing. One person automatically lowered the price and made a gesture of $15.48, asking to sell 500 lots.
A few seconds later, Citibank¡¯s proprietary trader stepped forward to take over the order.
This action, like injecting chicken blood into the traders, instantly stabilized the price, and some people used the price increase of 15.50 to complete several transactions.
Morgan Stanley and JP Morgan at this time (the future JPMorgan Chase). Together with Goldman Sachs and Citibank, they are the kings of the New York crude oil market and almost control the rhythm of the New York crude oil futures market. And in the more international London market. The power of the four is still good, but they act more conservatively.
Because of this, the emergence of Citibank, and its appearance as a long-buyer, naturally gave rise to market associations.
On the one hand, there is the news of increased crude oil production, and on the other hand, Citibank¡¯s entry into the market, in a very short period of time. The two seemed to have an offsetting effect, but not long after, the price of crude oil began to fall again.
Finance is rooted in confidence. But faith cannot exist in isolation. Especially in the primary market, if you believe it, you will spend money, and the more funds you will gather. The higher the degree of belief. This is the basis for price discovery and the basis for the operation of the futures system.
But there is no more money in the market that believes in the rise in crude oil prices. Citibank, which just appeared, is like a shadow. It bought less than 2,000 lots of crude oil and then stopped. However, the money that believes that the increase in crude oil production will lead to the decline in oil prices is still there.
So, a new price was discovered.
Especially when the price of 15.38 appeared, the psychological price of many traders changed.
Yang Ming came in a hurry. I glanced at the market out of habit and couldn't help but say: "I thought everyone would be inclined to increase oil prices. I didn't expect that I didn't stick to it for even a quarter of an hour."
"This is like PetroChina. Although countless people think it will rise, it will still fall when it should fall. Confidence without spending money is false confidence." Su Cheng said naturally.
Yang Ming asked in confusion: "What does this have to do with PetroChina?"
"Oh forget it, it's a long story." For Sioux City, when it comes to issues of confidence and price, the first thing that comes to mind is PetroChina, but for the Chinese in the mid-1990s, this was still an unfamiliar story.
Yang Ming did not ask further questions and said with a smile: "In any case, your plan, Mr. Su, has come true."
"Oh, it's not fully realized yet." Su Cheng looked at the oil price fluctuating around US$15.35 and said, "This is a little higher than the price of the previous two days. By the way, look at you running over, what's going on?"
"They sent people from China again."
"Sent from China?"
"Uhit seems to be from France. It arrived this morning." Yang Ming also conducted an investigation through the Information Bureau. He shook his head and said: "It is said that he was sent to France for further study in China and temporarily sent to London."
Seeing that Su Cheng's attention had been attracted, he reminded in a low voice: "My name is Yang Jingshan. He has a high rank, a high degree of education, and a good background. His files are in the State Council, and he has been in Paris for more than a year at public expense."
"Oh, second generation? Whose family does it belong to?"
"It's not very clear yet. You know, the Information Bureau has relatively little information in this regard. The report speculates that it is not a very special family. After all, he has been working in a bank and his promotion speed is not particularly fast. ." Yang Ming explained briefly.
Studying abroad was very popular in the 1990s because it was fully funded by the public.??Determined promotion is the most suitable promotion path for the second generation. It is easy to understand with a simple comparison. It is also difficult to go to a foreign unit for two or three years to support the frontier. It is hard and has no continuity. After returning, you can usually only get one level or at most two levels of promotion. When studying abroad, even the hard work is relatively comfortable. After returning, not only will you be promoted quickly, but also due to the advantages of academic qualifications, it is very sustainable. In fact, even if you don't get promoted, studying abroad in Paris for free is the best thing.
The master who came was naturally of a much higher standard than Tian Dongliang, not to mention that Tian Dongliang himself was forced to stay by Su Cheng.
¡°It seems that Tian Dongliang¡¯s report must have played a role.
¡° Sending a banker who studied in France to London is considered thoughtful. At least he understands the situation abroad. If he has good English skills, it is more appropriate than sending him from China.
Su Cheng nodded and asked, "Is someone here?"
"Yes, he wanted to come to the office to have a look."
"Let him wander outside the small office and operation room inside." Su Cheng said happily.
Yang Ming quickly went out to inform, and a tall and handsome man was brought in.
??The second generation of officials who can come to Paris for further studies and work in banks must be rich people in the 1990s. In other words, this is the standard Chinese rich man.
Su Cheng couldn't help but sigh twice. Then they went up to greet him.
Yang Jingshan knows how to communicate well, and his tone is frustrated and soft, but. When he finished his polite words, Su Cheng said, "Just take a rest and let me finish the matter here, and then we can talk in detail."
With just one sentence, Yang Ming came out and said with a smile: "Let's sit inside. Would you like tea or drinks? There is also red wine in the office"
"Just boil water." Yang Jingshan smiled generously. He stood back obediently.
Just for a while, the situation in the trading pool changed again, and some execution traders began to do a large number of transactions. And many self-operated traders have become like old men, and their movements are extremely slow.
Qi Xiao also came from the office and whispered: "The inventory in the delivery warehouse seems to have increased."
International trading of crude oil is very simple. As long as the crude oil carried by the ship meets the storage requirements. Then they are transported to the delivery warehouse, and the delivery warehouse must collect them. At the same time, the exchange pays the oil producer who delivers the goods.
The inventory in the delivery warehouse will also be displayed on the large screen of the exchange in real time, making it one of the factors for traders to judge the price.
Generally speaking, the inventory in the delivery warehouse should be relatively balanced. An increase in reserves indicates that the supply of crude oil exceeds demand, and a decrease in reserves indicates that the demand for crude oil exceeds supply. A large part of the so-called world crude oil reserves are stored in commercial institutions. As for the national crude oil reserve, it is actually very uneconomical. Because they cannot be used normally, reserves of hundreds of millions of barrels mean tens of billions of dollars in deposits. The total amount is large, but the impact on the crude oil market is limited.
Su Cheng nodded without surprise and said, "It's almost done after all."
Qi Xiao did not participate in the specific details of these insider transactions, and asked in surprise: "How did you do it?"
"Just let the tanker slow down and speed up." Tankers are mobile oil storage equipment, and tankers ranging from 100,000 tons to 300,000 tons can be easily rented.
Qi Xiao smashed his mouth and said: "I thought all the oil we stored was sent to the delivery warehouse."
¡°Not only ours, but also other companies¡¯.¡±
"Where does the crude oil come from?" Crude oil can be said to be the world's largest commodity. Whether it is transportation or production, it is systematic. The entire system operates like a factory production line. There will not be excess for no reason, and there will be no excess. Will come out less often for no reason.
What¡¯s more, the increase in inventory on the electronic screen is measured in millions of barrels. No matter how you look at it, it cannot be accumulated by Dahua Industrial and several companies in a short period of time.
Su Cheng hid his smile: "Haicang base has been shutting down for maintenance three days ago."
"ah?"
¡°I heard that the refining and chemical plants affiliated to Repsol and several other companies have also entered part-time maintenance.¡±
"AhthisI didn't expect it at all." Qi Xiao said indifferently: "This is too obvious."
"It's okay, just be yours." Su Cheng's heart was bigger than ever at this time.
Large chemical plants and oil production equipment need to be repaired every year, with as little as 20 days and as many as 50 non-working days. If you choose the wrong time, it will be a disaster and can swallow up the profits for the whole year. But if you choose the wrong time, it will be a disaster. If you do it at the right time, you can double your profits.
At onceNow, Dahua Industrial's Haicang base alone consumes about 1.2 million barrels of crude oil every day, more than half of which is used to produce diesel, and the rest is used to produce methanol and ethylene.
Even the current Haicang base has not reached its peak production. It is expected that it will take another two to three years before the 1.1 million barrels per day diesel refinery can be fully completed, and the production of 800,000 tons of ethylene and a cumulative million tons of methanol , will also create a large demand for crude oil.
Companies such as Repsol, which have longer experience, have more refineries and chemical plants under their subsidiaries. Except for some plants that are inconvenient to operate, other shut down plants can release at least 3 million barrels of crude oil supply per day.
A lot of this crude oil originally came from the North Sea. Now it doesn¡¯t need to be transported far away. It can be sent directly to the delivery warehouse in the UK.
Of course, once the seven companies of Pan Asia Fund do this, insider trading lawsuits will not escape. But no one cares.
?? If companies such as Repsol still need to think about it when crude oil is $17, when crude oil drops to $15, the shareholders of Pan Asia Fund, which has accumulated profits of more than 20 billion U.S. dollars, have already burned their heads.
What¡¯s so great about litigation? As long as the profits are sufficient, everyone would rather fight a protracted lawsuit.
In Europe and the United States in the 1990s, financial policies were unimaginably loose, especially for companies like Dahua Industrial and American Seager. If they hired a good team of lawyers, they could bury the government's prosecution team just with money. Even if insider trading is confirmed after a few years, the fine will probably be tens of millions of dollars. As for criminal offenses, it is really rare to encounter.
Within a few hours, inventories at the London delivery warehouse increased by more than 2 million barrels.
This is rare.
Although traders often do larger transactions than this, most of them are virtual transactions. Those who sell short will close their positions, and those who buy long will also close their positions. Spot crude oil is different. Their production, demand and consumption are all real. If the market really shows that supply exceeds demand, it will eventually be reflected by the terminal consumers.
When the time comes, it will naturally be reflected in the price.
At the price of $15, I couldn¡¯t stand it all of a sudden.
No matter how optimistic many traders were about crude oil prices, the price of crude oil quickly fell to around $14.50.
The short side will make a profit of tens of billions of dollars today just today, and the long side will also incur so many book losses.
The trading pool seemed to have been soaked in a sea of ??blood.
From a distance, you can see the frustrated traders.
"Let's go have dinner and call Yang Jingshan." Su Cheng stretched, quite satisfied with today's transaction.
Yang Ming went to invite someone, and a trader with a Morgan brand passed him by.
"Is it Chairman Su Cheng of Pan Asia Fund?" Morgan's trader was as energetic as a little leopard. He looked left and right cleverly and blocked Su Cheng at the corner of the stairs on the second floor.
"I am the chairman of Dahua Industrial, not Pan Asia." Su Cheng is quite sensitive now.
"Yes, yes." Morgan's trader patted his forehead and said with a smile: "Dong Su's recent operations are eye-opening. I wonder if Morgan Stanley will get the opportunity to cooperate with you?"
Su Cheng narrowed his eyes.
At this point, it's almost time to leave. Pan Asia Fund's profits will definitely exceed 20 billion U.S. dollars. Sioux City may be able to get two 5 billion U.S. dollars including the spread contract. When it comes to cooperation, it is not without foundation. of.
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