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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tulvio Durand who wrote (27607)8/12/1998 11:20:00 PM
From: William B. Lowrance  Read Replies (1) of 95453
 
What about the expense of storing the oil for about a year and half, plus the cost of insurance and interest (or lost interest in case of paying in cash). All of these expenses are factored in as carrying cost and that is why all future months are priced above the prior delivery months. No way to win on the futures market unless you happen to get lucky and know when to get out. Or else you happen to have a need for a large quanity of oil in about a year and half for $17 per bbl.
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