7 DAYS TO DIE TRADER MOD
They live in large houses with all mod cons, drive flashy ‘motors’, holiday in Marbella, spend their weekends golfing and watching West Ham FC, and frequent the same glitzy bar as the cast of reality TV show The Only Way Is Essex.
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After all, they were already extremely wealthy by most people’s standards and not exactly unostentatious. Some of them might have been tempted to shout their astonishing success from the rooftops. They had achieved this inside a few frenetic hours without even leaving their homes. It was a feat to rival that of the legendary George Soros, who made a reputed billion-dollar killing by betting against the pound as Britain withdrew from the European Exchange Rate Mechanism on ‘Black Wednesday’ in 1992. They had pulled off one of the most audacious and lucrative coups in trading history. By the close of trading on April 20, the nine traders - including two who are still in their 20s and another who had previously worked as a trolley attendant in a supermarket car park - had walked away with a £491 million profit. Their plan involved simultaneously buying and selling vast quantities of the black stuff, and gambling on its future price. Living up to their reputation for having ‘balls of steel’, the Essex Boys had embarked on a daring strategy to make money from the oil market’s cataclysmic collapse.Īmong the 'Essex Boys' was Elliot Pickering, pictured Not, though, the quiet, wealthy portion of Essex near Epping Forest where Cuddles Commins and his friends plied their trade. The financial carnage reached all corners of the globe. Its closing ‘value’ was minus $37.63 (minus £28 at today’s exchange rates): the amount the seller would have to pay the buyer to take it off their hands.
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Indeed, as it costs money to store unwanted oil, for a few surreal hours the price of crude went into the negative for the first time in the oil market’s 137-year history. until, at 7.08pm UK time, it ceased to have any worth at all. dollars plunged from an already-low $18 to $10. So as panic set in on that fateful spring day, the cost of a barrel in U.S. Worse, there was insufficient capacity to store it in the huge depots of Oklahoma. Although it continued to gush from the wells, demand had all but dried up.