Everything you said there is completely false. That is just not how the market works. And the excess storage is not why the spread is there. There are serious supply constraints that dictate the basis. Having oil in storage is not going to help you if you can't move it.
That is fine bud. You the smart genius. Make your own $$ I take $ from someone's pocket. Being a sharp genius here does not make me rich.
A few weeks ago you didn't even know there was an ICE financial contract. Yeah you're welcome for that. Now you've got it all figured out. Just please don't start a thread on here asking why the CME/ICE spread blew out $3 in your face at expiration because most of us here are probably not going to want to go through the explanation for ya.
Haha, why do you get so emotional? You losing $$ now? I asked because I was just curious and I do not trade ICE... If you want to prove you are a genius, just not here. You do not make $ by bashing other people :eek:
When accidental and "deliberate" pipeline/refinery problems start happening, you'll realize differently.
So much dumb $ can be made. I love CL, spreads better. Out of all positions. Out for the rest of day.....
Hi, here is my list of spread positions in energies: Buy CL V/Q at -2 Buy RB M-N at 0.019 Buy HO X-U at -0.013 (I'm ready to exit once market don't break resistance at 0) Seasonal windows ends in late May for all these spreads.
If you have access to a Bloomberg Professional terminal, the "Crude Netbacks" page is very good for the seasonal refining run switches.