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See my recent post on the CL market. We are running out of storage space. Then what ? Production will have to stop.

Only 4% of active cases are serious, but 1 out of 5 closed cases result in death. That's still pretty high.

Crude oil prices (CL) last Thursday went bonkers with a 25% range in price from $28+ to $22.57....$22.76 was the close. Both OPEC and the G2 oil ministers had emergency meetings last week: https://www.opec.org/opec_web/en/press_room/5882.htm...

Wow....east coast is $2.50 - Sunoco. Guess we are still refining that old, expensive oil ;)

Markets moving up due to oversold conditions and some mitigation of the corona virus.....IMHO.

This is a tax and accounting issue, not a market structure issue: https://www.journalofaccountancy.com/issues/2014/jul/sec-475-election-20149537.html

Vanzy - Johnson and Johnson has said no widespread rollout of a vaccine till Q2 2021.

You are correct, but VIX is a standard of sorts for measuring volatlity for the SPX. So your volatility measure is a proprietary calc ?

What is the volatility measure ? It's certainly not VIX.

Oil market today was unsettled as one would expect with the OPEC meeting. CL held at the 22.57 level as a low...now painting in the mid 23's. The G-20 meeting is tomorrow and everyone must follow the script to get oil production cut to the right level for the current weak demand. This will not...

At 3:50 pm, NYSE Market On Close (MOC) Imbalances report is released.

Not really. There have been no strong bids since the 1:30 pm 2810 top.

CL has now broken 24 to the downside. Down nearly 7% today. This could be affecting ES/NQ.

Thanks for that Vanzy....so in today's market we'd be losing money if we were ever to draw from the reserve.

According to the EIA, there's not much space left in the SPR. https://www.eia.gov/dnav/pet/pet_stoc_typ_d_nus_SAS_mbbl_m.htm Maybe 150m BBLS.

Thanks for that, but here's the thing:

Too bad the Fed can't buy crude oil. Even if they could, where would they store it ? CL now in the mid-to-low 25's.

CL struggling to maintain 26 level in light of the OPEC meeting. Looks like they are targeting 10 million BBLS per day cut. However, given current storage constraints, more may be needed.

More like a grind down day.

CL prices holding up in the upper 26's. OPEC to meet at 4 pm......G20 meeting on Friday. https://www.cnbc.com/2020/04/09/oil-and-coronavirus-opec-meeting-to-decide-on-historic-output-cuts.html