RE:RE:RE:RE:SPR BID and AWARD contract dates - a repeat ...first, this bid is for the release now through June, so yes, we will see a recovery until the next release bidding, where the price will once again be supressed
This isn't about supply/demand price action,
There is a huge number of 'speculators' playing oil futures that have zero intention of ever taking a single barrel of oil for delivery - ever.
Once you understand the above speculation on the futures, and the 'month end contract' dates you will be in a better position to understand that manipulation of WTI is much the same as on the share prices themselves, up down sideways, however they wish it to go.
Hedge funds, shorters and speculators run the show - whether here on the WCP stock price, or on WTI - the entire financial system is open game for manipulation as we've seen time and time again
Dogsbreakfast4U wrote:
masfortuna wrote: The oil is sold in the futures market and is represented as a contract. If 240 million barrels are expected to flood the market, then it would be logical to assume that the oil will be sold more cheaply than when there was no 240 million. The bids close tomorrow on the first segment.
I understand that but that process will continue over the next six months so why would oil spike back up after the 12th? If it does, it should be only temporarily and go back down again when next month's release and bidding contracts are set to resume. In other words, isn't the price of oil capped to a certain extent over the next six months?