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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (83265)	4/28/2020 2:54:42 PM
From: Goose94	Read Replies (1) of 202719

Crude Oil: prices collapsed again on Monday on fears of dwindling storage and also extreme volatility in the front-month contract for WTI. “The key trigger this time was probably the unexpected decision by one of the largest investment vehicles for retail investors to withdraw from the WTI futures for June and to move instead into contracts with a longer term,” Commerzbank said in a note. Crude oil supply from OPEC members has soared by more than 2 million bpd in April to the highest levels since December 2018. A rerun of the WTI meltdown is possible. Trading volumes are already down for June WTI and ETFs are trading out of the contract. “No one wants to be among the last to close out their position ahead of expiry, fearing a repeat of the May expiry,” Warren Patterson, head of commodities strategy at ING told the FT. “The move we are seeing suggests that the June contract is going to become increasingly illiquid, and as a result, will likely suffer from increased volatility in the lead up to expiry.

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