Chapter 746

The news was sent to him by Zhou Yi.

The futures exchange in the United States and Liberia has just issued an announcement allowing negative trading of crude oil.

To tell the truth, when Chen Wei saw the news, he was a little confused.

Negative trading?

What is negative trading?

Chen Wei has been trading for nearly two years and has never heard of any negative price trading at all.

He can't even understand.

How do you trade at a negative price?

Positive price trading is easy to understand. For example, if crude oil is quoted at 300 yuan a barrel, that is to buy a barrel of crude oil and pay 300 yuan.

But what about the negative price?

For example, negative one dollar a barrel means buying a barrel of crude oil without spending a penny, and the other party has to pay you one dollar?

Is there such a good thing?

Chen Wei was puzzled.

Call Zhou Yi immediately.

"What's the matter? Why did a negative price deal suddenly appear?" Chen Wei asked.

"We're also wondering. We've been discussing this issue and asked people from other companies. Everyone is a little crazy about it. When you say negative price trading, it means buying a barrel of crude oil, and the other party has to give us money? Is there such a good thing? The stone oil company can't lose its life?" Zhou Yi said on the phone.

"What is the trend of crude oil in the outer market?" Chen Wei thought and asked.

"It rose sharply. At the opening of 21.22, it has risen to more than 25 yuan at the moment. It's running 26," Zhou Yi replied.

Chen Wei was more and more puzzled.

After such an obvious bad news, the crude oil rose sharply.

It's strange.

Chen Wei has drunk some wine now, and his mind can't turn a bit.

In addition, he had no clue about the negative price transaction, so he had to say to Zhou Yi: "forget it, you study it first. I don't have a clue. After we go back, we'll discuss it. Maybe Qin Fei can know something. If not, I'll call uncle Ding."

It's estimated that they should be able to understand some negative price transactions. If they don't know, there's really no way. During this period, they can only temporarily stop touching crude oil and look at it first.

After hanging up, Lian Yingying asked him what happened, and Chen Wei simply told her.

It's just that Chen Wei is confused about negative price trading, not to mention Yingying.

Back to the hotel, it was already more than 12 o'clock, and Qin Fei had already fallen asleep.

Chen Wei didn't bother him, and he was too sleepy to open his eyes. He took a bath and went to bed.

Chen Wei woke up early the next day.

Go straight to the next door to find Qin Fei.

Qin Fei woke up early and was washing.

"Why don't you sleep more? It's still early." Qin Fei asked when he saw that Chen Wei's eyes were red and obviously didn't sleep well.

"Where can I sleep? Yesterday, Zhou Yi told me that the United States and Liberia issued an announcement last night that crude oil futures are allowed to trade at negative prices. Brother Qin, do you know what this means?" Chen Wei couldn't wait to ask.

"Negative trading?"

Qin Fei asked in surprise with a toothbrush in his mouth.

He has been trading for so many years, and it is the first time he has heard of negative price trading. For a time, he can't turn around.

"Yes, this is the first time I've heard of negative price trading. To be honest, I can't turn around. I didn't sleep well last night. I've been thinking about it, but I can't understand what I think. So I want to come and ask you," Chen Wei said.

Then he went to the sofa and sat down and opened Qin Fei's notebook.

Qin Fei didn't care to wash. He hurried to the bathroom to wash his mouth, came out and sat down next to Chen Wei.

Chen Wei has turned on his computer and boarded the website.

Sure enough, I saw the news.

"It's really allowed to trade at a negative price?" Qin Fei was stunned for a while.

"This negative price transaction means that if the quotation is negative, we buy crude oil and the other party has to pay us. If so, we will buy as much as we have?" Chen Wei said.

Qin Fei looked at the announcement on the screen and said, "I'm afraid it's not that simple."

"I also know it shouldn't be that simple, but I can't figure out what the problem is." Chen Wei shook his head and said with a bitter smile.

"I came back late yesterday and didn't see the outer disk. How did the outer disk crude oil go last night?" Qin Fei asked.

Qin Fei went to meet Shen Bing last night. Chen Wei hasn't asked him about the meeting yet. But I can't care about these things now.

Chen Wei opened the software and looked at the outer disk of crude oil.

Sure enough, it rose sharply. At the opening of 21.22, the highest rose to 27.39, but it fell back at the end of the trading and finally closed at 24.75.

"What about the contract in June?" Qin Fei thought for a while and asked again.

Chen Weigang just looked at the crude oil futures contract in May. When Qin Fei asked, he cut to the contract in June.

Crude oil futures in June also rose last night, opening at 24.19, rising to 30.15, and finally closing at 27.36

Moreover, in the past two days, crude oil has been consolidating at a low level. Yesterday, it was tantamount to breaking up.

With such news, crude oil not only did not fall, but rose. Rao Shiqin Fei was well-informed and a little confused.

After thinking carefully, he said, "I don't know much about this external futures, and I rarely do this before. Do you know its delivery mechanism?"

As soon as Qin Fei mentioned delivery, Chen Wei suddenly flashed a lightning bolt in his mind, as if he thought of something, but when he thought about it carefully, he couldn't grasp the clue, so he simply checked the crude oil delivery mechanism of the American Liguo futures exchange.

This is easy to find.

"It turns out that this delivery is only in the designated warehouse... I see!" Chen Wei suddenly caught the fleeting thought just now.

"Is it excess production?" Qin Fei also said, and he guessed something vaguely.

Chen Wei patted his thigh and said: "It's excess production. I've checked that as of January this year, the world's idle crude oil storage space is 1.2 billion barrels. Now the daily crude oil production is about 100 million barrels, while the daily crude oil demand is less than 100 million barrels. There are about 10 million barrels of crude oil remaining every day. At this rate, the global crude oil storage space will be empty by May It's full, including the delivery warehouse designated by the exchange! "

Qin Fei also understood and said: "in this case, there is a negative price of crude oil. In fact, there is such a possibility."

"Yes, once the oil wells are opened, they can not be shut down easily and can only continue to produce oil. Now, although the major oil producing countries have reached a preliminary production reduction agreement, they are still facing the problem of excess production. It is not surprising that the extracted crude oil has no place to store and is paid to be taken away," Chen Wei said.

As long as we understand that negative oil prices are possible, the rest is easy.

The negative price trading mechanism launched by the exchange must also be to deal with this situation.

Of course, the introduction of a negative price trading mechanism does not mean that oil prices will fall to negative.

But at least, now there is such a possibility.