The world’s biggest and most secretive financial oil trade is facing unusual roadblocks this year. Mexico typically buys as much as $1 billion worth of financial positions to protect its revenues from oil sales for the coming year against price fluctuation. It is the most widely anticipated hedging deal in oil markets and can make or break an investment bank’s DealBook. But the Mexican government, under new President Andres Manuel Lopez Obrador, has been slower than usual to start testing the waters for its first round of hedging due to volatile oil prices, trade tensions and new rules for marine fuel usage, seven financial industry sources told Reuters. By early May, Mexico is usually at least sounding out banks, attempting to discreetly secure the best price using financial instruments such as put options, which give the holder the right to sell oil at a […]