FischerTal Posted April 20, 2020 Author Posted April 20, 2020 If things stay like this, I don’t know what will happen
Clarke Posted April 20, 2020 Posted April 20, 2020 How can there be such a difference between Brent & WTI ? Wouldn't demand come towards WTI & supply towards Brent and eventually both prices would be close to each other ?
Autonomous Posted April 20, 2020 Posted April 20, 2020 1 hour ago, FischerTal said: If things stay like this, I don’t know what will happen China should be f*****
rising Posted April 20, 2020 Posted April 20, 2020 1 hour ago, Clarke said: How can there be such a difference between Brent & WTI ? Wouldn't demand come towards WTI & supply towards Brent and eventually both prices would be close to each other ? its something to trading and contract (something like you buy those commodity and sell in market like shares) so when contract expires Tuesday they have sell it but no one needs it now so its almost no value in market so its gone so but after this expiry they will go next contract which will again around $20 dollars I heard velu 1
velu Posted April 20, 2020 Posted April 20, 2020 -1.43 $ now .. all because of contract expiry .. buyers wont be having space to store the crude , so squaring it off
kosingh Posted April 20, 2020 Posted April 20, 2020 Waiting for China to come in and buy oil companies around the world
diga Posted April 21, 2020 Posted April 21, 2020 5 hours ago, velu said: -1.43 $ now .. all because of contract expiry .. buyers wont be having space to store the crude , so squaring it off 5 hours ago, velu said: low is -40 USD This is only for crude for delivery in May since they're out of storage space. For June delivery (ie the stuff being produced today) its like $20 still. It's basically a clearance sale for the inventory and several countries refusing to cut production
MechEng Posted April 21, 2020 Posted April 21, 2020 9 hours ago, FischerTal said: If things stay like this, I don’t know what will happen There will be a massive cataclysmic war between US and China, all technologies will be forgotten and we will go back to square one again starting life from scratch, like how it happened after Mahabharata war.
Autonomous Posted April 21, 2020 Posted April 21, 2020 1 hour ago, MechEng said: There will be a massive cataclysmic war between US and China, all technologies will be forgotten and we will go back to square one again starting life from scratch, like how it happened after Mahabharata war. There will not be a large scale full blown war. It will only lead to further disaster, instead USA and other countries would want treatments/vaccine to show up MechEng 1
MechEng Posted April 21, 2020 Posted April 21, 2020 2 minutes ago, Autonomous said: There will not be a large scale full blown war. It will only lead to further disaster, instead USA and other countries would want treatments/vaccine to show up I know re...Just blowing things out of proportion.
velu Posted April 21, 2020 Posted April 21, 2020 4 hours ago, diga said: This is only for crude for delivery in May since they're out of storage space. For June delivery (ie the stuff being produced today) its like $20 still. It's basically a clearance sale for the inventory and several countries refusing to cut production same thing might happen in the next other expires as well , but traders migth be prepared a bit .. most of the traders dont expect to give or take physical delivery of the crude , sellers took advantage of it .. as per the contracts , price should not go below 1 cent but cme let it go belowthat FischerTal and bhakum20 2
bhakum20 Posted April 21, 2020 Posted April 21, 2020 ^^velu good catch, never knew about this lower limit. Look how much volume there is in back months, A longstanding singaporean oil trading firm blew up with $4B in losses. The boss kept going long thinking markets will recover quickly from the virus. Goes to show why trading against the trend is a stupid idea, even if you have millions in the bank. Trading with momentum is where the money's made, especially if you know how to add to positions ;)
velu Posted April 21, 2020 Posted April 21, 2020 46 minutes ago, bhakum20 said: ^^velu good catch, never knew about this lower limit. Look how much volume there is in back months, A longstanding singaporean oil trading firm blew up with $4B in losses. The boss kept going long thinking markets will recover quickly from the virus. Goes to show why trading against the trend is a stupid idea, even if you have millions in the bank. Trading with momentum is where the money's made, especially if you know how to add to positions ;) icici has got exposure to that firm
velu Posted April 21, 2020 Posted April 21, 2020 MCX crudeo oil april contract closed at -2284 i think margin for 1 crude oil future was 15/16k ... yesterday might be from 25k to 65k depending on the broker .. whoever bought for 1000rs with 15k margin will be at a loss of 4L https://www.mcxindia.com/docs/default-source/circulars/english/2020/april/circular-282-2020.pdf?sfvrsn=b7598990_0
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