Chapter 642 Blood Flows into a River

Traders entered the trading pool with full of uncertainty.

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

As for the correct judgment, this kind of thing has never existed.

An executive trader for valet operation took the lead in giving today's price: "Sell, $15.55, 200 hands."

The quotation is 10 cents lower than yesterday's closing price, indicating that his customers are still looking down on the market.

No one traded with him immediately, but someone immediately offered a new price: "Sell, $15.52, 300 hands."

This time it's 13 cents lower.

With a little hesitation, the trader opposite Industrial Bank raised his hand and ate 300 hands of crude oil for $15.52.

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

The trader of Societe Generale hesitated again. After buying a share of 200 hands, he found that no one took over the offer, so he simply waited.

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

A few seconds later, Citibank's self-operated traders came forward to take over the offer.

This action, like injecting chicken blood into traders, instantly stabilized the price, and someone raised the price by 15.50 to complete several transactions.

Morgan Stanley and jp Morgan at this time (future JPMorgan Chase). In addition, Goldman Sachs and Citibank 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 it appeared in the image of buying more, naturally gave rise to the association of the market.

On the one hand, it is the news of the increase in crude oil production, and on the other hand, the entry of Citibank into the market in a short time. The two seemed to have an offsetting effect, but it was not long before the price of crude oil began to fall again.

Finance is rooted in confidence. But confidence cannot be isolated. Especially in the primary market, if you believe it, you can pay for it, and the more money you collect. The higher the degree of belief. This is the basis for the discovery of prices and the basis for the operation of the futures system.

But there is no more money in the market to believe in the rise in the price of crude oil. The newly appeared Citibank, like a shadow, bought less than 2,000 hands of crude oil, and the money that believes that the decline in oil prices caused by the increase in crude oil production is still there.

So, the 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 habitually took a look at the market and couldn't help saying, "I thought you would be inclined to rise in oil prices. I didn't expect that I didn't even hold on for a quarter of an hour.

"It's like PetroChina. Although countless people think it will rise, it still needs to fall when it should fall. The confidence that you don't pay is false confidence." Su Cheng naturally gave a sentence.

Yang Ming said puzzledly, "What does this have to do with PetroChina?"

"Oh... Forget it, it's a long story." For Su Cheng, 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 didn't ask and said with a smile, "Anyway, Mr. Su, your plan has been realized."

"Oh, it hasn't been fully realized yet." Su Cheng looked at the oil price fluctuating around $15.35 and said, "This is slightly higher than the price of the previous two days. By the way, let's see you run over. What's the matter?"

"People have been sent here again in China."

"From China?"

"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 reminded in a low voice, "My name is Yang Jingshan. He has a high level, a high education, and his background seems to be very good. The file has been placed in the State Council, and the public expense has been in Paris for more than a year."

"Oh, the second generation? Whose family?"

"It's not particularly clear. As you know, the Information Bureau still has relatively little information in this regard. The report speculates that it should not be a very special family. After all, he has been working in a bank, and the speed of promotion is not very fast. Yang Ming explained it briefly.

It was very popular to study abroad in the 1990s, because it was at full public expense, and after going back, you can definitely be promoted, which is the most suitable promotion way for the second generation. It is easy to understand with a simple comparison. It is also two or three years to go to foreign units. It is hard to support the frontier and has no continuity. After coming back, you can usually only get a promotion of the first level and a maximum of two levels. Even if you study abroad, even if it is hard, it is relatively comfortable. When you come back, you will not only be promoted soon, but also very continuous due to the advantages of academic qualifications. In fact, even if there is no promotion, it is best to study in Paris for free.

The owner who came is naturally much higher than Tian Dongliang's grade. What's more, Tian Dongliang himself was forced to stay by Su Cheng.

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

It is also attentive to send a French banker to London, at least to understand the situation abroad. If you have a good English ability, it is more appropriate than sending it from China.

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

"Yes, he wants to have a look in the office."

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

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

The second generation of officials who can come to Paris for further study and work in a bank. I think they are also rich in the 1990s. In other words, this is the standard rich and handsome man in China.

Su Cheng couldn't help sighing twice. Then I greeted him and greeted him.

Yang Jingshan knows how to communicate very well, and his tone is sudden and soft, but. When he finished his polite words, Su Cheng said, "Take a break and let me finish the matter here. Let's talk about it in detail."

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

"Bopen water is enough." Yang Jingshan smiled generously. Stand in the back obediently.

For a while, the situation in the trading pool changed again, and some executive traders began to do a lot of transactions. And many self-employed traders have become old men, moving very slowly.

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

The international transaction of crude oil is very simple. As long as the crude oil carried by the ship meets the storage requirements. Then they will be transported to the delivery warehouse, and the delivery warehouse will be collected, and they will be paid from the exchange to the oil-producing company for delivery.

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 the price.

Generally speaking, the inventory of the delivery warehouse should be relatively balanced. The increase in reserves indicates that the supply of crude oil exceeds the demand, and the reduction of reserves indicates that the demand for crude oil exceeds 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 uneconomical act. Because it is usually unusable, hundreds of millions of barrels of reserves mean tens of billions of dollars of precipitation, with a large total amount and limited impact on the crude oil market.

Su Cheng nod his head unexpectedly and said, "It's almost enough."

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

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

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

"It's not only ours, but also other companies."

"Where did the crude oil come from?" Crude oil can be said to be the largest commodity in the world. Whether it is transportation or production, it is systematic. The whole system operates like a factory production line, and it will not be more for no reason, nor will it be less for no reason.

What's more, the inventory on the electronic screen has increased, but it is measured in millions of barrels. No matter how you look at it, it can't be accumulated by Dahua Industry and several companies in a short time.

Su Cheng hid a proud smile: "Haicang Base has been shut down for maintenance three days ago."

"Ah?"

"I heard that Repsol and several other companies' oil refining and chemical plants have also entered part-time repair."

"Ah...this...I didn't expect it at all." Qi Xiaoqi Ai said, "This is too obvious."

"It's okay. Just be yours." Su Cheng's heart is bigger than ever at this time.

Large chemical plants and oil production equipment need to be repaired at the same time every year, ranging from 20 days to 50 days of non-working days. If you choose the wrong time, it will be a disaster. It can swallow the profit of the whole year, but if you choose the right time, it will have the effect of doubling the profit.

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

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

Companies such as Repsol and other companies with longer capital have more refineries and chemical plants. In addition to some factories that are inconvenient to operate, other factories that have stopped work 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, and now it doesn't have to be shipped far away, just send it directly to the delivery warehouse in the United Kingdom.

Of course, once the seven companies of the TransAsia Fund do this, the lawsuit of insider trading cannot be escaped. But no one cares.

If, at the time of $17, Repsol and other companies still need to consider it, when the crude oil fell to $15, the shareholders of the Pan-Asian Fund with a cumulative profit of more than $20 billion, they had already burned their heads.

What's so great about the lawsuit? As long as the profits are sufficient, everyone would rather have a protracted lawsuit.

In Europe and the United States in the 1990s, the easing of financial policies was unimaginable, especially companies such as Dahua Industry and Sig in the United States. If you hire a good group of lawyers, you can bury the government's indictment with money alone. Even if after a few years, the insider trading is confirmed, it is As for the fine, it is really rare to encounter a criminal offence.

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

This is rare.

Although traders often do bigger transactions than this, there are mostly virtual transactions. Those who sell short will close positions, and those who buy more will also close positions. Spot crude oil is different. Their production, demand and consumption are solid. If the market really shows that the supply exceeds the demand, it will always be reflected in the terminal consumers.

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

The price of $15 can't be held up all of a sudden.

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

Today alone, the short side will make a profit of 10 billions of dollars, and many sides will also incur so many book losses.

In the trading pool, it seems to have been soaked in the sea of blood.

Far away, you can see the angry traders.

"Let's go to dinner and call Yang Jingshan." Su Cheng stretched out and was quite satisfied with today's transaction.

Yang Ming went to hire someone. A trader with a Morgan brand passed him by mistake.

"Is it the chairman of Sucheng of the Pan-Asia Fund?" Morgan's trader spirit is like a little leopard. He looks left and right cleverly, just blocking Sucheng at the corner of the stairs on the second floor.

"I'm the chairman of Dahua Industrial, not Pan-Asian." Sucheng is quite ** now.

"Yes, yes." Morgan's trader patted his forehead and smiled, "Su Dong's recent operation is eye-opening. I don't know if Morgan Stanley can 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 the Pan-Asian Fund is sure to exceed 20 billion US dollars. Sucheng may get two 5 billion US dollars in terms of the price difference contract. In terms of cooperation, it is not without foundation.

... (To be continued...) RT