now we are hearing the singapore police has opened an leong,igation into hin and the concealment of lossesading could potentially mean huge losses for the banks that provided this trader with billions of dollars in loans. this firm has filed for protection from creditors friday. repay as struggle to much as $4 billion. coming up, the specter of deflation looms over the world's central banks after oil to start plunged. we take a closer look at the challenges, next. this is bloomberg. ♪ >> nobody has ever heard of negative oil before but it is very short-term. >> we probably will not see this again in my lifetime that is a reflection of how oversupplied the market is, how weak demand is, and how tight this trump structure has gotten. >> you could see next year at some point it start to come into balance. going forward north american production is going to be structurally impaired. >> it is a perfect storm for the oil producers out there. you are seeing that reflect in the prices today. >> and oil patch in this much trouble is not good for the u.s. economy. >> everyone is going to be looking