Traders entered the trading pool with uncertainty.

They all read the morning news and the electronic disk transactions yesterday. Most of them also listened to reports from company analysts, but few people can still make a positive judgment on today's prices.

As for correct judgment, this kind of thing never exists.

A valet executive trader was the first to give today's price: "Sold, $15.55, 200 lots."

The quotation of 10 cents lower than yesterday's closing price means that his customers are still looking at the market.

No one immediately traded with him, but someone immediately offered a new price: "For sale, $15.52, 300 lots."

This time it was 13 cents lower.

After a little hesitation, the trader from Industrial Bank opposite raised his hand and ate 300 handfuls of crude oil of $15.52.

Then, three traders immediately sold nearly a thousand-handed crude oil at the same time, and the price was still $15.52.

The traders of Industrial Hesitated again. After buying 200 lots of each, they found that no one took over, so they simply stopped waiting.

Traders are all used to this kind of thing. One person automatically cuts the price consciously, and makes a gesture of $15.48, demanding to sell 500 lots.

A few seconds later, the proprietary trader of Citibank stepped up and took over.

This action, like injecting chicken blood into traders, instantly stabilized the price, and someone used 15.50 to raise the price and completed several transactions.

Morgan Stanley and JP Morgan at this time (the future JPMorgan Chase). In addition to 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. In the more international London market, the power of the four is still good, but they are more conservative.

Because of this, the emergence of Citibank, and the appearance of Buy Duo, naturally gave birth to market associations.

On the one hand, there is news of the increase in crude oil production, and on the other hand, Citibank's entry into the market, which seemed to have a counteracting effect in a very short period of time, but not long after, the price of crude oil began to fall again.

Finance is rooted in confidence. But confidence cannot exist in isolation. Especially in the primary market, if you believe, you will pay for it. The more funds you gather, the higher the degree of belief. This is the basis for discovering prices and the basis for the operation of futures systems.

But there is no more money in the market that believes in the rise in crude oil prices. The just-appeared Citibank is like a shadow. After buying less than 2,000 lots of crude oil, it stopped. The money that believes that the increase in crude oil production has led to a decline in oil prices is still there.

So, a new price was discovered.

Especially when the price of 15.38 appears, the psychological prices of many traders have changed.

Yang Ming hurried over. He looked at the market habitually and couldn't help but say, "I thought everyone would tend to rise in oil prices. I didn't expect that I didn't even hold on for a quarter of an hour."

"This is like PetroChina. Although countless people think it will rise, they still have to fall when it should fall. The confidence that you don't pay for is fake confidence." Su Cheng naturally gave a sentence.

Yang Ming said inexplicably: "What does this have to do with PetroChina?"

"Oh... Forget it, a long story." For Sucheng, when it comes to the issue of confidence and price, the first thing that comes to mind is PetroChina, but for the Chinese in the mid-1990s, this is still a strange story.

Yang Ming did not ask questions and smiled: "No matter what, your plan has come true."

"Oh, it has not been fully realized yet." Siucheng looked at the oil price floating around $15.35 and said, "This is a little higher than the price two days ago. By the way, what's going on when you come over?"

"There are people sent here again in China."

“Sent from the country?”

"Uh... it seems to be from France, this morning." Yang Ming also investigated by the Information Bureau and 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 it attracted Su Cheng's attention, he whispered: "I'm Yang Jingshan, with a high level, high education, and a good background. The file is placed at the State Council and I've been in Paris for more than a year."

"Oh, second generation? Whose family?"

"It's not very clear yet. You know, the Information Bureau has obtained relatively little information about this. The report speculated that it should not be a very special family. After all, he has been working in the 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 publicly paid, and it was able to be promoted after returning, which was the most suitable way for the second generation to advance. It is easy to understand with a simple comparison. It is also difficult to support the border for two or three years. After returning, you can usually only get promotions of one level or two levels. Even if you work hard, you are relatively comfortable and hard. After you come back, you will not only be promoted quickly, but also because of your academic advantages, it is also very continuity. In fact, even if you don’t have promotion, studying in Paris for free is a good thing.

The owner who came is naturally much higher than Tian Dongliang's level, not to mention that Tian Dongliang himself was forced to stay by Su Cheng.

In this way, Tian Dongliang's report should have played a role.

Sending a French banker to London is considered to be very attentive. At least you can understand the situation abroad. If you can have good English skills, it is more appropriate than sending it from China.

Su Cheng nodded and asked, "Is the person here?"

"Yes, he wanted to come and have a look in the office."

"Let him wander around outside the small office and operating room inside." Su Cheng said happily.

Yang Ming quickly walked out to inform him and brought in a tall and handsome man later.

The second-generation official who can come to Paris to study and work in a bank, I think he is also a rich man in the 1990s. In other words, this is the standard Chinese tall, rich and handsome man.

Su Cheng couldn't help but sigh twice before he greeted him.

Yang Jingshan knew how to communicate very well, and his tone was dull and soft, but when he finished speaking politely, Su Cheng said, "Please take a break and let me deal with the matter here, let's talk in detail."

With a word, Yang Ming came out and smiled and said, "Let's sit inside. Do you like tea or drinks? There is also red wine in the office..."

"Just boiling water." Yang Jingshan smiled generously and stood behind obediently.

In just a while, the situation in the trading pool changed again, and some execution traders began to trade in large quantities. Many proprietary traders became old men and were extremely slow.

Qi Xiao also came from the office and whispered: "The inventory of the delivery warehouse seems to have increased."

International transactions of crude oil are very simple. As long as the crude oil carried by the ship meets the storage requirements, they are transported to the delivery warehouse, and the delivery warehouse must be collected, and at the same time, they are paid from the exchange to deliver the oil producers.

The inventory of 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 prices.

Generally speaking, the inventory of the delivery warehouse should be relatively balanced. Increased reserves indicate that the supply of crude oil is greater than demand, and decreases reserves indicate that the demand of crude oil is greater than the supply. A large part of the so-called world crude oil reserves exist in commercial institutions. As for the national crude oil reserves, it is actually a very uneconomic behavior. Because they cannot be used normally, hundreds of millions of barrels of reserves mean tens of billions of dollars of precipitation, and the total amount is large, and the impact on the crude oil market is limited.

Su Cheng nodded without surprise and said, "It's almost done."

Qi Xiao did not participate in the specific details of these insider transactions and said in surprise: "How did it do it?"

"Just let the tanker move slowly and speed up." Tankers are mobile oil storage equipment, and tankers of 100,000 to 300,000 tons can be rented easily.

Qi Xiao smashed his mouth and said, "I thought the oil we stored was sent to the delivery warehouse."

“It’s not just ours, but other companies.”

"Where did crude oil come from?" Crude oil is the world's largest commodity. Whether it is transportation or production, it is systematic. The entire system operates like a production line of a factory. It will not be extra for no reason, nor will it be less for no reason.

What's more, the increase in inventory on electronic screens is calculated in million barrels. No matter how you look at it, it is not something that Dahua Industrial and several companies can accumulate in a short period of time.

Su Cheng smiled proudly: "Haicang base has been suspended for maintenance three days ago."

"ah?"

"I heard that Repsol and several other companies' refining and chemical plants have also entered the process of working together."

"Ah... this... I didn't expect it at all." Qi Xiao said aloof: "This is too obvious."

"It's okay, just do 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, ranging from 20 days to 50 days non-working days. If you choose the wrong time, it will be a disaster and can swallow up the profits for the whole year. However, if you choose the right time, it will be a double profit.

For now, the Haicang base under Dahua Industrial alone consumes about 1.2 million barrels of crude oil every day, most of which are used to produce diesel, while the rest are used to produce methanol and ethylene.

Even the current Haicang base has not entered its peak production. It is expected that in another two or three years, the 1.1 million barrels of diesel refinery will be completely completed, and the production of 800,000 tons of ethylene and a cumulative million tons of methanol will also produce a large amount of crude oil demand.

Companies such as Repsol, which have longer-term employees, have more refineries and chemical plants. In addition to some factories that are inconvenient to operate, other shutdown factories can release at least 3 million barrels of crude oil per day.

Many of these crude oils originally came from the North Sea, and now they don’t have to be transported far away and sent directly to the UK delivery warehouse.

Of course, once the seven Pan Asia Fund companies do this, the lawsuits for insider trading cannot be escaped. But no one cares.

If companies such as Repsol still need to consider it when the crude oil dropped to $15 and the accumulated profit of more than $20 billion would have been hot.

What's so great about litigation? As long as the profit is sufficient, everyone would rather fight a protracted lawsuit.

In Europe and the United States in the 1990s, financial policies were unimaginable, especially companies like Dahua Industrial and Sig, who hired a good lawyer group, and just used money to bury the government's prosecution team. Even after several years, when insider transactions were confirmed, it was mostly fined at a scale of tens of millions of dollars. As for criminal crimes, it is really rare to encounter.

Within a few hours, the inventory of London delivery warehouses increased by more than 2 million barrels.

This is rare.

Although traders often do larger transactions than this, there are mostly virtual transactions, short sellers will close positions, and those who buy too much will close positions. Spot crude oil is different. Their production, demand and consumption are real. If the market really shows oversupply, then it will always be reflected when it comes to terminal consumer companies.

At that time, it will naturally be a reflection of the price.

The price of $15, I couldn't hold on at once.

No matter how optimistic many traders are about crude oil prices, the price of crude oil quickly fell to around US$14.50.

The bears will make a profit of 10 billion US dollars just today, and the bulls will also generate so many book losses.

The trading pool seemed to be soaked in the sea of ​​blood.

From afar, you can see the angry trader.

"Go to have dinner and call Yang Jingshan." Su Cheng stretched and was quite satisfied with today's deal.

Yang Ming went to hire someone, and a trader with a Morgan brand passed by him.

"Is it the chairman of Pan Asia Fund's Sucheng?" Morgan's trader was as energetic as a little leopard, looking left and right cleverly, blocking Sucheng at the corner of the stairs on the second floor.

"I am the chairman of Dahua Industrial, not from Pan Asia." Su Cheng is quite sensitive now.

"Yes, yes." Morgan's trader patted his forehead and smiled: "Dr. Su's recent operations are eye-opening. I wonder if Morgan will get the opportunity to cooperate with you?"

Su Cheng narrowed his eyes.

At this point, it is almost time to leave, and the profit of Pan Asia Fund is bound to exceed US$20 billion. Including the price difference contract, Sucheng may get two US$5 billion. If it comes to cooperation, it is not without a foundation.

…(To be continued...)
Chapter completed!