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May QM now unavailable or locked, JUNE pricing and USO starting to slide. Not Good.Heck wrote:May CL.1 hit a penny
Debt Default Deflation rearing its head1der wrote:May QM now unavailable or locked, JUNE pricing and USO starting to slide. Not Good.Heck wrote:May CL.1 hit a penny
spot on, thanks bossCobra wrote:Measured move down?
when? world is ending and prices keep going up. scratching head..not reallyHeck wrote:Fore
Look out below
Or, June delivery futures start to slide because there is still not enough storage in 30 days and demand has not picked up enough to draw down the excess May inventories (plus the anticipated June deliveries )and we get to do this all over again.Al_Dente wrote:2:42 pm: Here’s why this oil price crash isn’t as bad as it seems
The oil futures contract that fell more than 100% on Monday is for May delivery, and it expires on Tuesday.
With the coronavirus pandemic leading to unprecedented demand loss, and with storage tanks quickly filling up, there is no demand for this oil contract expiring Tuesday. That’s why it turned negative, meaning producers would pay to get this oil off their hands because there is no one that needs that oil this week with the country shutdown. Futures contracts trade by the month. The contract for June delivery traded 16% lower at $21.04 per barrel. So after that contract expires on Tuesday, oil will be back above $20. - Stevens