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Wow ! After negative prices in the futures market ? Plus we have the June contract in complete suspense...and volatility is still incredible. June CL at 12.00 this evening at 6 pm....now painting 14.00. And will we see single digits by June 19th expiration ?

When will it become bearish in your opinion ?

Of course, but what is the fair market value ? https://www.wsj.com/articles/texas-regulators-decline-to-force-oil-cuts-but-companies-are-cutting-anyway-11587486457 Decision date moved to May 5th. We've got to ask ourselves what is the price of WTI crude going to be on June 19th ? What can Trump...

TOS has CL margin higher than IB ? Hard to believe.

That really sucks. Not so with IB.

WTI May crude contract closes not far from June.....within $2. Impressive recovery for May.

CL stopped again at $6.90.

When WTI June held 11.00 level recently, it immediately jumped $1.00 to $12.00 within a minute. Now that's volatility !

May WTI crude oil expiration at 2:30 pm today. This should be interesting as well as historic.

Which market ?

CL went from 11.00 (low) to 12.20 in 4 minutes ! Vol-maximus.

$1 move up in June WTI within 5 minutes !

Finally a bounce off the 2724 level.

June WTI really moving.....like 40 cents in a few seconds !!

June WTI gave-up the 15 level rather easily. EDIT: .....or not.

OPEC doesn't start cutting till May 1st.

That opportunity is worth $1k per short contract per $1 dollar change down.....or $10k per contract bet.

Of course, but cutting production now will help stabilize prices.

After today's outcome, I don't think these guys have a choice now: The commissioners must vote to cut production via proration. Otherwise, the June WTI contract is going to go out just like the May contract.

2810-2812 level held today....barely.