Those short in crude oil futures should beware the Trump administration has not one but two plans to resolve the crude oil "problem". 1) pay domestic producers to stop or cut-back on their drilling activities. This will be done thru the Fed. 2) activate the SPR and/or expand it to hold more crude oil. When these announcements are made, you don't want to be short. You will be smoked. These are the Trump oil "puts". These will likely come between May 11th and May 19th (settlement date of WTI June futures). Heads up crude oil traders !
And like I said previously to an almost identical post of someone else's 1) never happen at least not to any great extent. 2) when SPR is activated it means oil is being released not stored. And anyway there is not much more spare unfilled capacity currently. They are thinking about adding some but it won't happen quickly. But demand not supply or oversupply is the issue.
I saw this exact same post from someone else recently. Anyway, oil has had about 15 up days in the past 18 days, and is up almost 5X since the low at 6.50. Does the current situation justify $30/barrel?
you actually believe the garbage they feed you on fake news channel right about shortage of oil tankers
No. I actually know it is true having worked in the industry many years and still have contacts. You on the other hand likely have no knowledge but immediately claim fake news like our clueless Prez. At least he has an agenda, a totally fucked one. What's your issue.
Great earnings report from NAT with a much better 2Q to come and the stock plummets right at the opening... why are all tankers (NAT, STNG, DHT< EURN etc) forced to weather a storm? Investors cannot pretend like the reopening will be seamless and demand will be 100% back to usual forever...