The FT with a nice summary of a matter that.....>

OIL: The FT with a nice summary of a matter that has been developing in recent

days: "The collapse of one of Singapore's biggest oil traders has raised the

prospect of a severe liquidity crunch in the city-state's under-pressure

commodities sector, threatening a wave of defaults and bankruptcies. Investors

and analysts warn banks are likely to cut their exposure to the industry after

heavily indebted oil trader Hin Leong Trading filed for bankruptcy protection.

The company has admitted to $800m in undisclosed losses and is the subject of a

police investigation. It is the second Singaporean commodities trader to run

into financial difficulties in recent weeks as the coronavirus pandemic pummels

crude oil demand and prices."