Quote:
Originally Posted by pwd72s
So you think the June Contracts price will be???? Doesn't this mean that right now oil sells for around $8 per barrel? Tell us more, okay?
Say I owned a refinery, and I wanted crude..right now, today. What would I pay?
|
If you wanted oil for May delivery, you'd pay 2.75 (px as I'm typing this). For June delivery the price is 22 and change. Basically, storage is becoming full due to lack of demand, so people are having issues taking delivery because they have no place to put it. The px is higher for June because of optimism that demand will increase by then and there will be more available storage.
UPDATE: Now 1.25 for May. In theory could go negative.
UPDATE2: Now NEGATIVE 37.63 for the May contracts. Truly wild stuff.
__________________
1957 Speedster, 1965 356SC, 1965 356SC Outlaw, 1972 911T, 1998 993 C2S, 2018 Targa 4 GTS, 2014 Cayenne S, 2016 Boxster Spyder, 2025 Ranger Raptor
Last edited by Paul T; 04-20-2020 at 11:39 AM..
|