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Chapter 151 - 129: The Soaring International Crude Oil Futures Prices
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... he end of December, after international crude oil futures prices broke through $99 a barrel, Yi Anguo decisively closed out his positions.
He started going long when international crude oil futures were at $70 a barrel and held until they reached $99, a total increase of $29. The first purchase of 50,000 contracts yielded $50 million for every dollar increase, netting a profit of $1.45 billion.
The second purchase of 50,000 contracts, made when the price was $75 a barrel, earned ...
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