Search results

That assumes there's storage space and that the June contract will stay above zero by June. There's no guarantee for that.

The June WTI contract now refuses to go below $21.00. An eerie calm has come over this market. I don't think this is going to last.

AFAIK - this has never happened before . This is an historic event.

June WTI hit $20.20 as a low and then took off from there to $21.00. Crazy market !

Now at $3.

History in the making......May WTI Crude now at $5 / BBL

2854 level was sold off.

June WTI unable to surpass $23.00...currently range-bound between $22.60 and $23.00.

June WTI just rallied about $1.50 in less than an hour.

Wrong....you would probably lose money.

You are myopic in your view. The market can also re-price the November contract to be lower....in which case you make money by being short.

What ? I can absolutely guarantee you that you will realize a $10/BBL profit if you are long June CL futures at $25 and it goes to $35 before June expiration. https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_quotes_globex.html

https://www.worldoil.com/news/2020/4/10/oil-glut-closes-middle-east-s-largest-crude-terminal Any move up in crude oil likely to be technical in nature.....like a short covering rally. Fundies remain pretty awful and bearish.

Can you provide some details on this call ? Supply/Demand is totally out of wack right now.

Market appears to be discounting everything....oil, vix, unemployment, recession, earnings, etc., etc.

There was afternoon drama in CL when it dropped to 24.57 at 2:20 pm. However, that level was bought and we ended up with a close over 25. This should continue to be a "rock 'n' roll" market. Of course, there is always a chance for a tweat from Mr. President that could have prices move wildly up...

Unlikely....2822-2824 strong support levels.

Nice try.....did you take the 3 handles profit ? Today has been characterized by weak intraday PA.

CL has painted lower highs and lower lows since the noon high of 25.38. It has now broken 25.00 and is struggling to keep the Low of Afternoon at 24.80.

CL jumped 50 cents in 5 minutes to $25.60 , then promptly retraced 50% of the move.