Following the turmoil in international oil markets, Bank of China suspended on Wednesday the opening of new positions in a structured crude oil trading product for retail investors linked to international futures contracts, including WTI Crude and Brent Crude. New positions cannot be opened from Wednesday of the crude oil ‘bao’, or treasury, product, which Bank of China sells to individual clients, in view of “current market and delivery risks,” the bank said in a statement carried by Reuters. Bank of China suspended trading in its two crude oil products linked to the U.S. crude benchmark for one day on Tuesday. On Monday, the WTI Crude May futures contract crumbled by more than 300% to settle at -$37 a barrel , under intense pressure a day before the contract expired, but also reflecting market fears that storage in the U.S. would soon fill. The futures contract crashed into negative […]