Redghost wrote:
Seems that the oil companies are parking their oil in hopes of higher
prices now that the fuel price has dropped.
You don't have to hope, yesterday Feb crude was $34 when March was $41.
Just buy the Feb, sell the March, and make arrangements for storage at the
terminal when the Feb is due for delivery.
The guys leasing supertankers are doing it for 8-12 months, but I'd rather do it
for one month, and do it again the next month, for as long as the front month
contract continues do go into the toilet during the last two weeks of trading.
Mitch.
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