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A comment on I tried to buy an actual barrel of crude oil (2015). Parent comment

Re:I tried to buy an actual barrel of crude oil (2015) by scurvy on Monday April 20, 2020 @05:42PM (#22928951)
Did you read the part where I wrote, "there's no place to put the stuff?"

I also specifically said "front month contract".

June oil is barely over $20 today and will probably drop under that mark by week's end.

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Re:I tried to buy an actual barrel of crude oil (2015) by hectormalot on Tuesday April 21, 2020 @02:42AM (#22932596)
The point of futures is that I could sell my oil _today_ to be delivered in June for $20. Any change in June oil prices from that point onwards doesn’t matter once I’ve sold the contract.
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Re:I tried to buy an actual barrel of crude oil (2015) by bluGill on Tuesday April 21, 2020 @09:22AM (#22934698)
If the price collapses for June you buy a june pick up contract, trade it for your June delivery contract, and sell a July delivery contract. So long as you have the oil and can deliver you can make money on it until prices return to where it doesn't work out at which time you deliver your oil.
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