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In Depth: A bitter $1.4bn lesson on commodity price speculation

60,000 Bank of China clients face $1.4bn in losses on oil futures derivatives

The epic crash last week of crude oil taught 60,000 Chinese investors a bitter, 10 billion-yuan ($1.4 billion) lesson on the risks of speculating in commodity prices.

The clients of Bank of China (BOC), one of the country's largest state-owned lenders, were trying to buy on a dip in crude prices using a paper investment product known as Yuan You Bao. Little did they expect that values would keep on plunging past zero and well into negative territory.

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