I am not a crude oil futures expert
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Me neither. I watched yesterdays impressive climb only to be wiped out at the end of the day.
Too many variables, and panic/hope drives too much short term movements, even on what seems unrelated news.
I do not watch crude futures like you do. Is it normal to see volume trades out into December 2015, December 2016, and even a few trades out into December 2017, Dec 2019?
It seems like a pretty smart hedge at these levels. That is unless it goes to $40/barrel and stays there.
Notice that no one is blaming those evil “speculators” for the price of oil falling.