100% agree with oil being low and therefore you should buy now. I was in the same boat until I realised what is really going on with buying contracts. Ooo buys contracts not physical oil.
Go look back 10years graph on ooo and oil price. During 2014-2015 oil price went from $100 to $40. And that's when extreme contango happened.
from your post. You have no idea how roll yield works and how contango and backwardation works. I paid some good lesson fee on this just a few days ago.
once you figure it out. I'm sure you can't sleep until you sell or oil price goes up. Good luck
OOO Price at posting:
$19.36 Sentiment: None Disclosure: Not Held
