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Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,247 since Dec 2013
Thanks Given: 4,591
Thanks Received: 10,544
Happens in energy. As well as the Natural Gas examples I gave earlier I forgot that Power/Electricity often trades negative at night. It costs so much to stop and start a coal plant that at 2am they are selling power at negative prices as it's cheaper than going offline and having to restart.
In the following posts I would like to point out to what negative pricing of a commodity will have as impact:
• DOMINO effect
• on production sites
• on storage
• on delivery
• on clients
• on transports
• on currencies
• on stability
on... you name it!
We are really at a crucial point right now.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,247 since Dec 2013
Thanks Given: 4,591
Thanks Received: 10,544
New Low 1c.
@GFIs1 while I do agree with you, should clarify we are talking about CL which is a landlocked crude in Cushing Oklahoma. Barrels North will be even worse (can only wonder what Canadian crude is worth). West Texas prices will also be even lower. But prices on the Gulf Coast @ Waterbourne will not be as bad. This really is a situation specific to 'inland' US.
Absolutely - I have been in that region - in the south of Kansas and know it from there.
In Cushing is CME located.
Just looking for the first pricing with negative numbers.
And from there a domino effect might happen.
Good trades!
Just to let you know I have never traded oil as it is against all my philosophies.
GFIs1
