Five years ago today marked one of the all time crazy days in the commodity futures markets.
The May 2020 WTI contract started the day at $17.85 and absolutely, truly imploded. It held for a time at the big round numbers like $10 and $5 and made a stand at zero then completely crumbled to a low of -$40.32 per barrel.
Once it rolled to the following month, the market began to find storage and sorted itself out.
But it was a really good day for nine traders in Essex that made $660 million that day.
In a mockery of the norms of commerce, the Vega crew had ended up being paid both for the futures they’d sold when oil was positive during the day and for those they bought via TAS. That, combined with the profit from the spread trades, resulted in a total take of $660 million for the nine biggest earners, according to the trading data. Demetriou, who’s 31; Pickering, 25; and Younger, 22, pocketed in excess of $100 million each, while Roase made about $90 million. Commins took home $30 million or so. Even his son, George, who’s in his early 20s with little apparent trading experience, made $8 million.As for today's, trade WTI is down 93-cents to $63.75 as weekend reports highlighted progress on US-Iran talks.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about oil is celebrating the anniversary of its worst day ever with some early losses was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Oil is celebrating the anniversary of its worst day ever with some early losses )
Also on site :
- Teens arrested after large disturbance, multiple fights at Joliet mall
- Transcript: Bank of America CEO Brian Moynihan on "Face the Nation with Margaret Brennan," Dec. 28, 2025
- Feel Free customers say the kratom drink is making them sick. Toothless FDA rules on dietary supplements are helping it remain a bestseller