The Astonishing Oil Trading Day that Made a Few Essex Traders Millionaires

💰A group of traders from Vega Capital London made $660 million by correctly predicting the drop in oil prices.

💼The traders, led by a trader known as Cuddles, took advantage of the negative oil prices and made a profit within a short period of time.

💵The traders' profits were the difference between the negative oil prices and the prices at which they sold their oil futures.

⚖️The traders are currently under scrutiny for potentially breaching market rules, but no wrongdoing has been proven yet.

🌍The drop in oil prices had a significant impact on oil-producing countries and investors, resulting in substantial losses.

How did the traders from Vega Capital London make such a huge profit?

—The traders correctly predicted the drop in oil prices and took advantage of the negative oil prices to make a profit on their oil futures contracts.

What is the ongoing investigation about?

—The investigation is looking into whether the traders breached market rules or manipulated the market to achieve their profits.

Were any laws or regulations broken?

—No wrongdoing has been proven yet, but the investigation aims to determine if any laws or regulations were violated.

How did the drop in oil prices affect oil-producing countries and investors?

—Oil-producing countries and investors experienced significant losses as a result of the drop in oil prices, affecting their economies and investments.

What are the potential consequences for the traders if they are found guilty of wrongdoing?

—If found guilty, the traders could face fines, trading bans, or even criminal prosecutions.

00:02On April 20th, oil markets crashed, and oil prices went into negative territory.

00:11A group of traders from Vega Capital London made $660 million by correctly predicting the drop in oil prices.

01:03The traders, led by a trader known as Cuddles, took advantage of the negative oil prices and made a profit within a short period of time.

07:09The traders' profits were the difference between the negative oil prices and the prices at which they sold their oil futures.

10:56The traders are currently under scrutiny for potentially breaching market rules, but no wrongdoing has been proven yet.

13:15The drop in oil prices had a significant impact on oil-producing countries and investors, resulting in substantial losses.