Read on Twitter
1/ With covid raging & escalating now, I've wondered why on earth oil hasn't crashed yet? I believe the answers are here: (a) greed-- oil traders want to reap maximum profit till the very last minute. (b) because of this schedule .....
2/
As Brent future trades 1 month ahead of WTI, the real weakness of oil already showed its face soon after Brent did rollover into Jan.2021 contract back in late Oct., that's how the recent Brent & WTI sharp drop to $35 happened. Hence, people don't believe oil will be worth...
As Brent future trades 1 month ahead of WTI, the real weakness of oil already showed its face soon after Brent did rollover into Jan.2021 contract back in late Oct., that's how the recent Brent & WTI sharp drop to $35 happened. Hence, people don't believe oil will be worth...
3/ ...that much in winter with covid raging, but since WTI's contract is Dec.2020, as there's still a chance many may travel due to Christmas & Hanukkah (& some news of oil cut from Russia, etc.), so, many did BTFD, & short squeeze oil up. I.e. in a way, it's WTI's future...
4/ ...contract being 1 month behind Brent that "saved" oil temporally.
BUT, with WTI about to enter Jan.2021 contract starting next week, & with Brent entering Feb.2021 contract (i.e. deep in winter) starting late Nov., folks, I think the party IS OVER ! https://twitter.com/skywalker_2k/status/1326993152004116480
BUT, with WTI about to enter Jan.2021 contract starting next week, & with Brent entering Feb.2021 contract (i.e. deep in winter) starting late Nov., folks, I think the party IS OVER ! https://twitter.com/skywalker_2k/status/1326993152004116480
