A bit of a noob to the oil markets here, but I did buy some crude oil west texas - cash at mid/high $7 mark but also shorted west texas crude - june 2020 around mid $16 mark at the same time..the way I saw it this it was kind of an arbitrage...I didnt throw much at this trade just thought I saw an opportunity...luckily I bought lots more than I sold
anyhow as of today I am down about a grand on this deal...because the wti june is now mid $27 mark but the WTI cash has only increased to high $9 mark..My question is why is west texas crude - cash sitting at $9ish now when spot WTI spot is looking like its mid to high $27 mark
I now know what I sold....but what did I actually buy
this is with CMC CFD
Basically why is WTI spot around mid $27 where on CMC markets West texas crude - cash is around high $9
