RE:RE:wti @ 26....You VET cheerleaders really should not be investing in energy stocks with this level of unsophistication. It’s all about steep contango. May WTI is actually down around a $1 as I write this at $18.89 per barrel. Quotes for WTI are starting to switch to June where WTI is currently just under $26 as I write. It was around this level yesterday. There is no spike up along the price curve.
Contango this steep suggests massive oversupply in the market. This is what I’ve been telling you and it’s no secret if you VET cheerleaders would pull your heads out of the sand. And you can expect June WTI to begin to fall in the coming weeks as well.
cleareye wrote: According to their most recent information cicular, their revenue streams have a 44% exposure to wti, and about 1/3 each to Brent. and an Australian equivalent.
So, we may see this downtrend reversed.
The US economy is reopening.