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Just because the situation is complex doesn't mean it isn't newsworthy. This is certainly an unprecedented and significant event.
by JshWright 7y ago
Just because the situation is complex doesn't mean it isn't newsworthy. This is certainly an unprecedented and significant event.
- dmix 7y agoIt still appears more significant by the way futures trading works and the way it all bulked up to the last trading day, since there was no buyers after a certain point - because (certain) buyers were incentivized to wait until the last minute to submit orders, to get the cheapest price. In a "real" market with physical oil wells + storage, wouldn't that decline in consumption -> storage normally happen far more gradually over time? (A drop over a week is less exciting than a down spike within 24hrs) I know it's less efficient that way and all of that, but this seems to make it appear like this drop in the market happened all at once. A lot of non-experts will see the news this way regardless - it's slightly less exciting in context but still historic.