one of Singapore's biggest and most iconic - and extremely secretive - oil traders, Hin Leong Trading filed for bancruptcy
According to a Bloomberg report, the son of the "legendary" founder of Hin Leong said the Singapore oil trader hid about $800 million in losses racked up in futures trading, suggesting a much bigger hole in the company’s finances than many expected
Sunday night.... oil expected to open near unchanged.
Thanks Gunter!