Oil plunges below zero for first time with May contract ending

Re:Oil plunges below zero for first time with May contract e... by cwhiz on Monday April 20, 2020 @03:32PM (#22927503)

The May contract was still selling at $22 as of last Tuesday. I don't know much about oil markets but my base assumption would be that we would do this whole thing over again in 30 days unless something significant happens in consumption or production? When do the output cuts begin?

[ Parent | on HN ]

Re:Oil plunges below zero for first time with May contract e... by alkonaut on Monday April 20, 2020 @03:48PM (#22927698)

And can I somehow short these contracts a week before the next deadline?

[ Parent | on HN ]

Re:Oil plunges below zero for first time with May contract e... by cwhiz on Tuesday April 21, 2020 @09:39AM (#22934845)

I wouldn't touch this market with a 10 foot pole. It is absolutely ripe for government intervention and abuse. And if the fed does get involved they aren't going to be in there to bail out the short sellers.

[ Parent | on HN ]

Re:Oil plunges below zero for first time with May contract e... by kccqzy on Monday April 20, 2020 @09:12PM (#22930815)

If the same thing did happen again a month from now, you'd surely make a lot of profit. But it might not, and that's the risk.

[ Parent | on HN ]