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WTI Crude Oil Trading

  • #7,601
  • Apr 21, 2020 3:08pm Apr 21, 2020 3:08pm
Everyone needs Oil in this world. There is no new energy source. Keep calm - buy low, sell high. Push greed down, reduce leverage and trade the moment. That's it.
  • #7,602
  • Apr 21, 2020 3:10pm Apr 21, 2020 3:10pm
Quoting Ll1979
{quote} You guys missed yesterdays memo? May contract hit -40 dollar at lowest point. {image}
And could you buy it for -40$...it's just price on an expiring contract...not the spot price

Quote
The collapse…is mostly a reflection of traders rolling contracts to June as no one wants to take delivery because storage capacity is getting close to being reached,

https://www.marketwatch.com/story/us...nue-2020-04-19
  • #7,603
  • Apr 21, 2020 3:12pm Apr 21, 2020 3:12pm
Quoting KamaZ
{quote} price 11.18 wti crude - on my chart spot crude 3.43 i asked pepperstone about spot crude wti Support Every broker use different liquidity providers Our oil instruments are cash products which are derived from a blend of futures instruments. If an LP/Broker uses difference futures products to create their cash product price, then they will have a different cash price. The cash market for oil is not an exchange traded product, so price differences between brokers can occur. What you'll notice however is that prices, despite their differences...
Pepperstone are bunch of scammers working in a bucket shop, i wouldnt even bother with them... they stole shit ton of money from our company account. Still in the process of suing them.
  • #7,604
  • Apr 21, 2020 3:15pm Apr 21, 2020 3:15pm
Quoting Ll1979
{quote} You guys missed yesterdays memo? May contract hit -40 dollar at lowest point. {image}
  • #7,605
  • Apr 21, 2020 3:16pm Apr 21, 2020 3:16pm
Does anyone miss the old days? Well not that old since this was in January
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  • #7,606
  • Apr 21, 2020 3:18pm Apr 21, 2020 3:18pm
Quoting merquise
{quote} And could you buy it for -40$...it's just price on an expiring contract...not the spot price {quote} https://www.marketwatch.com/story/us...nue-2020-04-19
you could let them pay you $40 yesterday and have it delivered to your garden
  • #7,607
  • Apr 21, 2020 3:19pm Apr 21, 2020 3:19pm
Quoting kuroro001
{quote} Hope they'll roll the june contract soon enough, because it it does like the may contract, USO will lose 40% of its value
lol whats going to happened to June contract when they sell?! -$50?
  • #7,608
  • Apr 21, 2020 3:21pm Apr 21, 2020 3:21pm
API in a few mins, sure that will have some interesting news!.
Anyone brave enough? Though I think that all the bad news is priced in so unless it is MUCH worse/better than anticipated don't think there will be much of a movement.
  • #7,609
  • Edited 3:43pm Apr 21, 2020 3:22pm | Edited 3:43pm
Quoting montygoldy
{quote} rewards are far more better than worrying about meager swaps...
how? If you bought May oil like a week ago for say $20, your rollover to move to July would be $7, lets say the rollover is going to be $5 next month and $4 the month after. If oil price is $36 in 3 months, you are still only breaking even
(20+7+5+4)
  • #7,610
  • Apr 21, 2020 3:23pm Apr 21, 2020 3:23pm
Quoting tonny47
{quote} you could let them pay you $40 yesterday and have it delivered to your garden
Unfortunately despite the description I doubt it actually comes in barrels - alright if you have a big swimming pool
  • #7,611
  • Apr 21, 2020 3:25pm Apr 21, 2020 3:25pm
Quoting tonny47
{quote} you could let them pay you $40 yesterday and have it delivered to your garden
Not a bad idea Just to find a garden to store it Maybe I can use the apartment for storage and move the family to basement
  • #7,612
  • Apr 21, 2020 3:29pm Apr 21, 2020 3:29pm
Quoting tonny47
{quote} lol whats going to happened to June contract when they sell?! -$50?
Everybody is predicting another deep fall, i would say now that we had such event, people will be scared and it may not happen
COT: The precious data ignored
  • #7,613
  • Apr 21, 2020 3:29pm Apr 21, 2020 3:29pm
I just found this on another thread. I wonder if this will stop the oil trading nonsense. Worse though is that my compatriots will pay the price as usual through higher taxes while the un-responsible oil firms will benefit from their mistakes
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  • #7,614
  • Apr 21, 2020 3:32pm Apr 21, 2020 3:32pm
Would you guys place SL to BE? I'm planning this to be a mid-long term trade.
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  • #7,615
  • Apr 21, 2020 3:32pm Apr 21, 2020 3:32pm
Quoting Wightoil
{quote} Unfortunately despite the description I doubt it actually comes in barrels - alright if you have a big swimming pool
is it actually delivered to buyers or you have to collect it from Cushing, Oklahoma?
  • #7,616
  • Apr 21, 2020 3:33pm Apr 21, 2020 3:33pm
Attached Image
persistence and determination alone are omnipotent
  • #7,617
  • Apr 21, 2020 3:38pm Apr 21, 2020 3:38pm
Quoting Hutch
I just found this on another thread. I wonder if this will stop the oil trading nonsense. Worse though is that my compatriots will pay the price as usual through higher taxes while the un-responsible oil firms will benefit from their mistakes {image}
Oil industry is creating hundreds of thousands of jobs in the US. If they go out of business, they will be getting some sort of unemployment benefits. So either way, not good.
  • #7,618
  • Apr 21, 2020 3:41pm Apr 21, 2020 3:41pm
Quoting kuroro001
{quote} Everybody is predicting another deep fall, i would say now that we had such event, people will be scared and it may not happen
hmmm, i dont think people learn that fast
  • #7,619
  • Apr 21, 2020 3:43pm Apr 21, 2020 3:43pm
Cushing storage is full, all remaining space has been booked out since Mid March apparently

https://uk.investing.com/news/commod...en-for-2101342
  • #7,620
  • Apr 21, 2020 4:03pm Apr 21, 2020 4:03pm
Quoting merquise
{quote} Not a bad idea Just to find a garden to store it Maybe I can use the apartment for storage and move the family to basement
Not quite sure, but I think you've misunderstood the notion of 'oil floating'...
It's a sport, an artform and a science.
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