Oil Price, page-23

Hi Boris, thanks for that. Although you won't see much in the way of volume as only 7000 contracts a month are auctioned.

What I was intimating was the fact that May contacts were selling for 10c a barrel and additional contacts at between 5-8c.

This coupled with the decrease in inventory at the Cushing Oil Hub by about 8 mill barrels since May/June.

As the price of oil has an inverse relationship with inventories over history, it's a given that as inventories decrease the oil price will increase.

Just my Wednesday afternoon musings.