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Can WTI go to sub $0 in the Spot Market?
Anggota Sejak May 10, 2019
14 pos
Anggota Sejak Aug 07, 2019
3 pos
Apr 22, 2020 at 12:22
Anggota Sejak Aug 07, 2019
3 pos
most of the CFD brokers send emails these days, disabling OIL CFDs or keeping Close-only orders... with notice that all positions will be closed if Spot price goes below $2-3...
btw. not sure if any MT4/MT5 platform can go negative:-) I doubt they are built for that
btw. not sure if any MT4/MT5 platform can go negative:-) I doubt they are built for that
Anggota Sejak Feb 10, 2020
11 pos
Anggota Sejak May 10, 2019
14 pos
forex_trader_584508
Anggota Sejak Nov 27, 2018
4 pos
Apr 22, 2020 at 15:56
Anggota Sejak Nov 27, 2018
4 pos
The reason that we saw negative pricing in the futures market yesterday was because of a specific problem with settlement mechanism of the May 1st WTI contract (which requires—by law— delivery into the landlocked tank farms at Cushing, Oklahoma) rather than wider national or global build in storage (contrast with the seaborne Brent price for May).
Cushing Oklahoma is a literal choke point in the supply network of oil in the south-central U.S. All pipelines of finished product lead to Cushing in the inner U.S.
Cushing Oklahoma is a literal choke point in the supply network of oil in the south-central U.S. All pipelines of finished product lead to Cushing in the inner U.S.
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