FILE PHOTO: Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Song
“We call them ‘hermit’ investors,” said a state oil official whose firm recently delivered cargoes into the contract. “They are hedge funds backed by rich individuals, trading affiliates of brokerages.” INE did not respond to a request for comment. The Shanghai Futures Exchange, which owns the INE, declined to comment on storage or buyers, saying: “This involves trade secrets of the participants, and is not public information.”
The speed of investor stockpiling — at 50 million barrels in just over two months, or 700,000-800,000 barrels per day — is faster than in previous buying bouts in 2018 and 2019 led by state firms, said analysts and the first state oil trader.
Sounds like criticism.
“Hermits United. We meet up every 10 years, swap stories about caves. It's good fun... for a hermit.” - Lao Tzu
elonmusk U.S.A needs your new battery. Let's do the damn thing! 'You sunk my petrol '
Preparing for war probably
China investors don't understand what they do with their business. China not having much technology and strategy for future economic....
Should we be worried?
Fck china
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