Reuters first to report Mexico to launch $1 billion oil hedge program

Reuters was first to report that Mexico has made the first moves to launch its annual $1 billion oil hedging program by asking banks for quotes, while buying in financial oil options contracts for 2020 has risen in recent days, consistent with the giant trade. The series of highly anticipated oil trades is seen as the world’s top sovereign derivatives trade. Previously, Reuters revealed that Mexico was close to executing the hedging program after several sources familiar with the program said that talks between Wall Street banks and the finance ministry had intensified recently.