On April 21，2020，the May futures of WTI crude oil on the New York Mercantile Exchange expired，and the settlement price was -37.63 US dollars per barrel，which was the first negative oil price in the history of international crude oil futures. At the same time，a risk event occurred in the product linked to WTI crude oil futures promoted by the Bank of China to the public，causing huge losses for investors. This article systematically sorts out the background and development of the event of personal account crude oil product of Bank of China，and deeply analyzes the problems of personal account crude oil product of Bank of China in terms of product attributes，product design and risk control，in order to reveal the commercial bank’s innovation in wealth management products Vulnerabilities in risk management. On the basis of rethinking the risk outbreak of personal account crude oil product of Bank of China，this article puts forward relevant suggestions to improve the professionalism of China’s financial consumers，consolidate the main responsibility of consumer protection of commercial banks，and improve the effectiveness of supervision. The research in this article has important implications in promoting the high-quality development of China’s banking industry under financial opening.