Re:Oil plunges below zero for first time with May contract e...
by freefal on Monday April 20, 2020 @02:52PM
(#22927035)
This is a good question. The fact that people are not buying the May future at -$37/bbl and selling the June contract at $20/bbl tells you that Cushing storage must effectively be full and that the theoretical storage figures quoted in research are not practically usable (at least at short notice). It's very hard to imagine any practical means of storage that isn't wildly profitable to utilize for $57/bbl/month.
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