Around The Barrel – Crude Oil and Gasoline Inventories Outlook

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    EIA reported massive builds in crude, distillate and…



    [b][color=red][size=5]May WTI low of 10.01 down over $8 as no where for oil to go with expiration tomorrow …

    $10.26/barrel -8.01 (-43.84%)

    But worse elsewhere

    Bakken UHC $2.36/barrel
    Alaska North Slope $1.86/barrel
    WTI Midland $14.11/barrel

    Western Canadian Select Crude 7.78/barrel $3.34 (-30.04%)

    Edmonton mixed sweet -$0.43/barrel
    Edmonton C5 condensate -$4.68/barrel[/size][/color][/b]


    [color=red][size=5][b]Ohhhh the humanity — The great OIL CRASH of 2020 :woohoo: :woohoo: :woohoo: :woohoo: :woohoo:
    I’m not sure what NEGATIVE prices for barrel even mean?

    U.S. oil’s May contract just marked history, plunging about 300% to settle negative $37.63 a barrel[/b][/size][/color]


    [color=green][size=5][b]Crude Oil Getting a little Geopolitical Support Today Over Iran boats
    #CL_F June +2.85 or 24%[/b][/size][/color]

    Trump : I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea.



    [b][color=purple][i]^^^^ +1 — Yes, our service men & women should not be put into danger but hotshots
    in Iran’s navy … or even over Bering Sea skies by pilots buzzing planes also
    Hopefully that warning will be listened to — as Blues Image tells story of USS Pueblo being held captive[/i][/color][/b]


    USO ETF fund positioning today in futures contracts

    20% into the front June contract
    50% in the July contract
    20% in the August contract
    10% in September contract.


    hiked margin on WTI #CL_F Futures contracts again
    #NYMEX crude contract up 17% to USD10,000 effective after the close of business on 4/24/2020[/b][/size][/color]

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