Traders on the Moscow exchange, believed in the growth of oil prices, lost a billion in two weeks, writes Finanz.ru. Active buying of futures by private traders began in mid-October amid speculation OPEC’s readiness to cut production. Almost all the bets, however, proved unsuccessful.
The exchange recorded the highest trading activity-individuals in Brent crude. According to statistics from the trading platform of open positions in derivative financial instruments, from mid-October trading on the stock exchange by private speculators put about 8 billion of their savings on the rising oil prices.
From 14 to 28 October, while prices were above $ 50 a barrel, individuals bought about 82 thousand contracts, putting in the game to increase to 2.8 billion rubles.
In the win, according to the stock exchange, were large institutional players. They sell contracts to individuals “in short” (betting on the fall). From 14 October to 11 November, the volume of such transactions amounted to 276 thousand contracts, which is almost equivalent to the purchase of “physicists”.
In the US the big players also prefer not to make bets on oil. According to the Commission on trade in commodity futures of the USA, from October 11 to November 1 hid funds reduced long positions in WTI crude by 64 million barrels to 296,6 million barrels. Bets against oil also declined from 62.5 to 71.4 million barrels.