RE:RE:Crude futures are $41+ for 2016
The current 12 month crude strip price is $38.97 WTI is USD. That's how most uses play the futures, buying the forward strip. That quote came from a dealer in NYC. The market is in big contango right now, if you could buy a million barrels today at 33, and park it in a tanker for 12 months and forward sell it at 42 you make 9 million dollars to pay the interest and storage costs. And people are doing that as we speak, and that's why NAT is doing well