Physical/Futures/PaperMisinformation & Disinformation
There is no such thing as a 'NY paper market' so how can it have a 'bias and cavalier attitude towards supply'?
'The paper market might try to sell off WTI on Monday'. The paper market is available 24/7/365 any time a phone can be answered or an electronic message received.
The futures market is easily 10X larger than the physical market. The paper market can be easily 50X larger than the futures market.
Who is behind the paper market? Every single company or entity you know. Even your large local farmers, manufacturers and greenhouses are part of the paper market.
The amount of CL and NG paper transacted in Houston and Calgary eclipses what is done in NY.
ICE futures begin trading today at 2:00 EST, you don't have to wait until Monday to see initial reactions. The CME site will start updating prices by 2:15 EST.