OIL 32$, falling off a cliff,wtf???

[dsq]

falling apart in the last 30mins...dropping 2 $ and now down 3$....WoW...

 

[ivanbaj]

Oops 32-37 $5 in 30 min swing.

 

[RiceRocket]

Futures expiration phenomenon. Feb has not really budged.

 

[dsq]

uso spiked 80cents in 1 minute?Oil didnt rally...still down 3 50...

 

[ivanbaj]

back to 33. Who can trade this stuff? Do you just hope or do you do the JFK spread to Rio?

 

[dsq]

im interested in uso but its hard to figure out how it moves in relation to oil movement at times.Sometimes it lags etc. guess its leveraged.

 

[hiptogo]

Jan crude oil moves towards session lows at $33.44

now off $2.52 to $33.70


Feb crude is higher by 36 cents to $42.03

 

[Landis82]

No one wants the Jan Crude because the storage facility in Cushing Oklahoma is totally full with crude.

No place to put it.

 

[hiptogo]

Jan crude, which expired at the close of pit trade, closed off by $2.35 to $33.87