Comment by throw0101d
8 months ago
Somewhat related, from 2020, "The day oil was worth less than $0 — and nobody wanted it":
* https://www.cbc.ca/news/business/oil-negative-price-1.553899...
8 months ago
Somewhat related, from 2020, "The day oil was worth less than $0 — and nobody wanted it":
* https://www.cbc.ca/news/business/oil-negative-price-1.553899...
I vaguely remember som enterprising guys decided to buy some sort of storage tanks and then “buying” the oil while they still could, for a quick buck.
Bloomberg story on it:
> Over the span of a few hours one day in April 2020, a guy called Cuddles and eight of his pals from the freewheeling world of London’s commodities markets rode oil’s crash to a $660 million profit. Now regulators are scrutinizing their once-in-a-lifetime trade.
* https://www.youtube.com/watch?v=F7_WXUMFM_w (14m)
* http://archive.is/https://www.bloomberg.com/news/features/20...