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The facts regarding crude futures dropping to negative a day in 2020 are actually more to do with the fact every bit of storage in the US was full. The compani
by doubleg72 3y ago
The facts regarding crude futures dropping to negative a day in 2020 are actually more to do with the fact every bit of storage in the US was full. The companies closing contracts were hedged by this point anyways, as demand had all but dried up completely. Perpetual futures would go against the entire point of having contacts for specified length of time. That point is time itself, the other major variable in finance.
- hed 3y agoThe SPR wasn't full; I wish we would have filled it up.
- 2Gkashmiri 3y agoI was on hn or reddit and I wished someone would buy an oil tanker for like $1 and sell for -1 if possible but for a brief period, I'd have owned a freaking oil tanker. Sadly couldn't convince anyone. Sad sad really. It could've been a nice story today.