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?
May2020 contract plunged to 13.31 right now on oilprice.com - is...
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