To: thackney
The statement “simply store millions of barrels of oil” is an oxymoron. Oil traders buy and sell contracts, never oil.
6 posted on
02/20/2015 8:02:46 AM PST by
American in Israel
(A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
To: American in Israel
With the current contango, traders are taking possession while selling a future contract. It is the part the reason of rising storage and offshore tankers being used for storage.
7 posted on
02/20/2015 8:09:20 AM PST by
thackney
(life is fragile, handle with prayer)
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