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I'm no trader, but I think the question at this point becomes: which oil company has the shortest runway?
Seriously thinking a major oil company going under is what catalyzes another leg down.
Then again, this is just a random feeling from a markets noob.
Seriously thinking a major oil company going under is what catalyzes another leg down.
Then again, this is just a random feeling from a markets noob.
So what happens now?
Actual question, for people who know about oil, gas, and markets - why is the June futures contract still trading so much higher than current price and May, and why is that not an "easy trade"? Tapping in @Melt_Dem and @jillruthcarlson - have you covered futures on WGMG?
Anyone who can't take physical delivery HAS to sell. This makes more sense now. https://twitter.com/AriDavidPaul/status/1252297928598831106?s=20
Full-out run for the exits. https://twitter.com/NorthmanTrader/status/1252301379412131842?s=20
Well that was...interesting https://twitter.com/CNBCnow/status/1252304780464132101?s=20
Alright, last link, then calling it a day on this thread. This helped me better understand today's oil prices, and why they'll magically jump tomorrow. Stay tuned for next month when we'll likely still have greater oil supply than demand. https://www.barrons.com/articles/oil-turned-negative-may-contract-june-commodities-markets-storage-delivery-51587411176
