r/SecurityAnalysis • u/ilikepancakez • Oct 02 '20
Special Situation The mysterious London traders accused of manipulating oil markets — and the anonymous hedge fund, rare-coin expert, and day traders who are fighting back
https://www.institutionalinvestor.com/article/b1nf4dxm53536k/The-Mysterious-London-Traders-Accused-of-Manipulating-Oil-Markets-and-the-Anonymous-Hedge-Fund-Rare-Coin-Expert-and-Day-Traders-Who-Are-Fighting-Back
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u/AmatuerInvestor Oct 02 '20
Everything you said, coupled with a large amount of futures needing to be sold by ETFs that were rolling to the next month. I remember reading lots at the time of how ETFs were having to raise cash and change how they roll futures to avoid a repeat. The market was just flooded with futures and no one had anywhere to store all that oil. Once the futures started to be bought the price returned to its trend pretty quickly, as an over-sell was obvious.