Oil storage tanks are seen in this aerial photograph taken on the outskirts of Ningbo, Zhejiang province, China on April 22. Oil glut has left the industry short of storage capacity, abetting the slump in crude prices. Photo: Bloomberg

Chinese investors burned by ill-timed bets on crude oil funds are now hoping for a huge rebound

  • Investors ploughed US$598 million into four open-ended oil funds last quarter, before WTI futures took a historic plunge
  • The funds trade at huge premium to their net asset values in hopes for rebound, prompting warning of ‘substantial losses’
Topic |   Bank of China
Oil storage tanks are seen in this aerial photograph taken on the outskirts of Ningbo, Zhejiang province, China on April 22. Oil glut has left the industry short of storage capacity, abetting the slump in crude prices. Photo: Bloomberg
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