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This is not the real price of oil. It's just a long squeeze -- an unfortunate side effect of the USO ETF as its rolling its holdings into the next futures contr
by united893 6y ago
This is not the real price of oil. It's just a long squeeze -- an unfortunate side effect of the USO ETF as its rolling its holdings into the next futures contract.
See: https://www.bloomberg.com/opinion/articles/2020-04-20/there-s-nowhere-to-put-the-oil https://www.bloomberg.com/opinion/articles/2020-04-20/there-...
- BozeWolf 6y agoAbsolutely a great newsletter to subscribe to. Really well written articles. The current situation is really well explained. Basically contracts which make you owner of oil end tomorrow. you have to store it somewhere then. or sell the contract quickly for -37$ before the market closes. Article for more details.