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To: thackney
They already sold a future contract to deliver oil at a future date.

Lol...sure they have.

14 posted on 03/23/2015 7:39:24 AM PDT by mac_truck ( Aide toi et dieu t aidera)
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To: mac_truck

Many market watchers had expected big commodity-trading firms to capitalize on the price gap between different oil-futures contracts by buying physical barrels, storing them on ships and locking in profits by selling futures contracts for delivery further out in the future.

http://www.freerepublic.com/focus/f-news/3262234/posts

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Some may be betting on a higher price. But there have been many locking in profit at the time they put oil in storage. The futures price just a few months out has stayed higher than the cost to store for many months now.

http://online.wsj.com/mdc/public/page/2_3028.html?category=Energy&subcategory=Petroleum


15 posted on 03/23/2015 7:51:18 AM PDT by thackney (life is fragile, handle with prayer)
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