How to to take physical delivery of oil (WTI)? (Retail Investors)

Discussion in 'Commodity Futures' started by sampitroda93, Apr 25, 2020.

  1. Overnight

    Overnight

    Dude, I'm kidding. You have to go to Cushing to get it. After you rent your tanker-truck to fill up your 42000 gallons (per contract!) Mreh, the hell you going to do with that crap? If the EPA catches wind on what you are doing, they'd prolly fine you for more than what the crude is worth. Unless you got it on the cheep!

     
    #21     Apr 25, 2020
  2. The thing is, you also have to arrange for/pay for delivery TO your homestead. Seller isn't buying train/semi capacity to take this stuff to your doorstep.

    Dont' mess with commodities futures without reading the contract, and also your broker's contract.
     
    #22     Apr 25, 2020
  3. Overnight

    Overnight

    Yah. It means you drive the truck.

    After you rent your tanker-truck to fill up your 42000 gallons (per contract!) Mreh, the hell you going to do with that crap?

    Whatever. Redundant silliness.
     
    #23     Apr 25, 2020
  4. piezoe

    piezoe

    if you live in the Phoenix area there is a real opportunity opening up. Phoenix could become a distant suburb of Cushing Oklahoma. There are so many back yard swimming pools that can be drained in 24 hours to make ready for delivery of the April Contracts that will be delivered in May. A little supplemental income from storage would be real nice about now for all those Phoenix families. You might have to team up with your neighbor to store an entire contracts worth -- only a 1000 barrels. But hey, half a piece of cake is better than none.
     
    #25     Apr 26, 2020
  5. Overnight

    Overnight

    Do you realize how toxic Crude oil really is? This will never happen.
     
    #26     Apr 26, 2020
  6. narafa

    narafa

    Or even how highly flammable it is.
     
    #27     Apr 26, 2020
  7. piezoe

    piezoe

    :D
     
    #28     Apr 26, 2020
  8. piezoe

    piezoe

    not to mention stinky. Honey what's that smell coming from. Oh don't worry honey I just rented out the pool for 18 months. Just be careful not to light the candles on the patio. :D
     
    #29     Apr 26, 2020
  9. And it's not just hard profits. Take some paper plates, thread a wick through a small hole in the middle, and you've got some floating candles to beautify your backyard.
     
    #30     Apr 26, 2020