Crack spread right now is pretty high with the drop. .71 cent gas and $5 oil = about $24 spread. Heating oil is better at .91 cents which equals $33. Those are pretty decent assuming gas and heating oil doesn't drop.
Baltic Clean Tanker Index Rising not so much because oil is being transported to its destination but because a lot of tankers are now being used as storage.
Guys, who still does not get it that it will go to zero by Tuesday? It's the may contract on which the current CFDs are still based on (the ones trading view shows, for example) . Also spot prices go close to zero because World storage capacity is REACHED. Are some reading delayed news feeds or what is going on?
Yes but that is right now. "Things change" and anyway right now today refiners are working off older prices.
Its irrelevant. World storage capacity has been exhausted. Any additional barrel of oil that can't be consumed or stored is worthless. Less than worthless, it costs money to dispose of or even more money to shut down certain types of wells.