88E 25.0% 0.2¢ 88 energy limited

Oil Price, page-23

  1. 2,819 Posts.
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    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.
 
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