Gunvor is an energy trader umbilically linked to a $2.5B LNG/natural gas trading margin call.

LNG/GAS commodity credit exposure is mounting at the banks while Gunvor’s margin calls represent ~100% of the group total equity.

If a black-box plays by the sword expect the market participants/IBs/MERCHANTS on the other side to trade this “Long Gamma- physical mean-reversion” epic fail wisely. Continue reading →

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