OOO betashares crude oil index etf-currency hedged (synthetic)
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May2020 contract plunged to 13.31 right now on oilprice.com - is...

  1. z3b5ior
    2,145 Posts.
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    20/04/20
    21:36
    Post #: 44152462
    May2020 contract plunged to 13.31 right now on oilprice.com - is this the lowest of all time?

    A couple of important points at this level:-

    • Theoretically, only Sauds is profitable at this level - all other producers are in loss now (read somewhere their product cost is ~10 per barrel)
    • Many stakeholders would be LONG on May future thus bringing to this level at expiry would result in a huge loss for them as they will have no choice but take the plunge - maybe some countries were long?
    • Spot price seems to be 18$ on https://au.investing.com/commodities/crude-oil-contracts - no other site publishes spot price

    Tomorrow oilprice.com will jump back to 20 reflecting June2020 price?
    OOO Price at posting: $19.36 Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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