Bank of China says feels sorry for investors’ loss on oil products
Bank of China said on Friday it is deeply sorry for the losses of investors who had invested in its crude oil futures trading product.
It had sent several messages via various channels including SMS as well as phone calls to remind its invetors of the risks regarding the recent fluctuation of oil prices since April 6, the bank said in a statement.
Chinese investors who traded Bank of China’s crude oil futures trading product are protesting the bank’s decision to settle the trades at historic negative prices, claiming the bank should have done more to protect their interests.
Source: Reuters (Reporting by Leng Cheng in Beijing, Emily Chow in Shanghai, Writing by Meg Shen in Hong Kong, editing by Louise Heavens)