[FewsOrange]

Does that mean somebody here bought the oil?

- Maybe, there is not a lot of detail in the story

50 million barrels of oil we don’t evidently need are on there way here how?

- It could have been ordered well in advance, that is what the futures contracts are all about.

[House Atreides]

“Does that mean somebody here bought the oil?

- Maybe, there is not a lot of detail in the story

50 million barrels of oil we don’t evidently need are on there way here how?

- It could have been ordered well in advance, that is what the futures contracts are all about.”
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It was NOT bought by anyone who actually wanted to take delivery. It was sold to speculators gambling on favorable price fluctuations. It has been bought and sold many times from and to other speculators.

[mmichaels1970]

- It could have been ordered well in advance, that is what the futures contracts are all about.

Thanks for the "edu-ma-cation". If it was ordered, and/or there was a contract, it seems to me the fault would be with the buyer rather than the seller.

But I don't know much at all about this stuff. I'll just watch the thread and try to learn.