Chapter 368: Some time
Due to the injection of a large amount of funds and the requirement of Eric's "willfulness", the trading team began to increase the purchase of crude oil futures in the following days, and expanded the original daily investment of more than 30 million US dollars.
As of mid-July, Eric has invested a huge amount of 250 million US dollars in the futures market. Because the price of crude oil has been fluctuating in the past two weeks, the money has not increased, and Chris is even more worried.
On the morning of July 16, a news published in The New York Times quickly spread throughout the world.
On the morning of July 16th, local time, in the early morning of July 16th, US Eastern Time, an elite armored tanker of the Iraqi National Guard and the National Guards, a full-scale Soviet-style equipment, suddenly assembled on the Iraq-Kuwait border. At the same time, the bilateral negotiations of the Iko were again Amazing news came that Iraqi President Saddam Hussein proposed new conditions, not only asking Kuwait to waive the previous $14 billion loan, but also demanding that Kuwait pay $2.4 billion for 'stolen Iraqi oil.'
Western countries that have been paying attention to the situation in the Middle East have not yet responded, and financial markets that are most sensitive to the market have begun to experience dramatic fluctuations.
On July 16th, it was just a new week. After the opening of several major futures exchanges in the world, the price of crude oil, which had been between 18 and 20 US dollars per barrel, quickly broke through the $20 mark, less than two hours. Already rushed to 21 US dollars, the whole day, the crude oil price did not fall again, staying at the high of 21.4 US dollars at the close of the day, an increase of 7%.
That night, Jeffrey and his son did not return to Chris's apartment, but gathered in Eric's hotel suite. Chris is not happy because the price of crude oil has skyrocketed today, and Eric’s account has a short one-day surplus of $175 million.
The fax machine in the suite rang and the documents appeared continuously.
Jeffrey, Chris and Eric silently read the documents from the fax machine, and only Drew was still on the sofa watching TV.
"The news that I can contact is this. Eric," circulated all the documents, and Chris said: "You also saw that almost all military experts believe that this is Iraq’s bluff and the war broke out. The possibility is very small, and the armored division equipped with the Soviet-made t72 tank is enough to flatten Kuwait. Iraq wants to invade Kuwait, and there is no need to send the ace of the Communists and the National Guard, a common equipment infantry division can Take the city of Kuwait. Saddam’s doing it is more about wanting to swindle more benefits."
"I still insist on my initial guess."
"Eric, these news will be seen tomorrow. The corresponding crude oil prices will fall again. In order not to let the money earned today, I will start selling it tomorrow morning, so maybe we can still reserve 100 million US dollars. Left and right profits."
"No, keep buying, Chris, I feel that time is getting closer."
Chris looked at Jeffrey, who didn’t understand the two people’s conversations. He said, “Then, there will be more violent fluctuations in crude oil prices in the future. I need enough backup margin for my account.”
Eric knows that Chris is telling the truth, compared to the price change is not too big for the first two weeks of July. With the participation of the Middle East and Western countries, the price of crude oil in the second half will fluctuate more sharply: "No problem, you can operate according to the situation."
Seeing that Eric did not hold on to his opinion this time, Chris sighed.
On July 17, the analysis articles that Eric and others saw the night before appeared in the major newspapers of all countries in the world, and even a senior official of the US Department of Defense defended the TV program. Publicly endorsed the argument that Iraq will never use force against Kuwait. Because of this view, the crude oil futures price of the day fell back to 20.7 US dollars. Drop 3%.
But in the following week, crude oil prices began to rise slowly again. Because Iraq deployed an elite armored division behind the Iko border, not only did it stop, but it continued to increase its troops. In less than a week, the Iko border had gathered 100,000 troops in Iraq.
The Emir of Kuwait’s head of state finally couldn’t sit still and began to beg for the heads of state of the Arab brotherly countries to mediate.
On July 22, Egyptian President Hosni Mubarak visited Baghdad to speak for the Emir of Kuwait. He did not receive any promise from Saddam and soon left. Afterwards, the Palestinian Liberation Front Chairman Arafat followed Baghdad, Saada. Ms. was warmly treated, and only sent Arafat a word to Emir when she sent the guest. The meaning was simple: save money.
Although up to now, most Western countries still insist that Saddam will not use force against Kuwait, but in the face of Iraq's aggressiveness, on July 24, the US carrier fleet in the Persian Gulf and the United Arab Emirates jointly held a joint military exercise.
At this time, the international crude oil price has risen to 23 US dollars, compared with a week ago, the increase was as high as 15%, Eric's principal invested in the futures market also reached 400 million US dollars, a weekly surplus of 500 million US dollars, so horrible Earnings are crazy, but Chris has persuaded Eric to stop more than once, because as long as there is a big turn in the situation in the Middle East, the money can be lost again at any time.
The United States seems to have played some role in deterring Iraq’s military exercises. On the second day, Saddam urgently summoned US Ambassador to Iraq, Aprril Grasse, and Saddam Hussein’s solemn commitment to the Arab ambassador. Iraq will never use force against Kuwait.
This news has appeared to be a turning point. In the next few days, crude oil prices began to fall slowly again. Most investment institutions began to look at the price of crude oil. In this case, more and more speculators began to go crazy. If you buy a contract to enter the market, it will be quickly digested.
In the last week of July, Eric spent all of its $700 million in principal, as the crude oil price fell in the last week, and the original $500 million surplus was left.
Because Eric strongly insisted on buying the last crude oil futures contract worth up to 20 million US dollars, Chris almost collapsed in the seat, a $700 million big bet, 10 times leverage, and almost no spare margin. As long as the price of crude oil falls by 2 US dollars, 700 million US dollars will be instantaneously turned into nothing. If the price of crude oil falls by more than 2 US dollars, the Eric account will be opened, but not 700 million US dollars will be swallowed up by the capital market, Eric will also Will owe a large amount of money to the futures company.
At this point, a lot of things must not be able to stop Jeffrey, the old man was scared by the number of 700 million US dollars for a while, but only a sigh.
In Los Angeles, many people in Hollywood are paying attention to Eric's every move. Therefore, the news that the "Ghosts are not over" three-week box office breaks is not so important. The instinct of this highly controversial movie is released. After that, there was no multimedia because of the identity of Eric’s screenwriter and he took the opportunity to attack him.
Everyone seems to be waiting, waiting for the arrival of a final trial.
Finally, the indifferent voice of time twisted the waist and stepped into the lattice of August 1990. (To be continued)