RE:RE:Nearby oil futures fall to lowest since 2001; storage fearsThe play is ; will the US let this ride or they will seek further cuts from OPEC, Non OPEC and even from internal producers? I don't think they can carry on much longer at that price.
So if you're a believer of a US intervention then July-August may skyrocket when they simply bring it up. If not then the spread will continue to destroy HOU.
I got some HOU believing USA will do what they do best, i.e. throw newly printed money at it.
I may be be way wrong too!!!