| 20 Apr 2020 |
 solar | 
Download a3469391977_10.jpg | 22:18:54 |
| solar | Over/under on circuit breakers by ens of next week? | 22:26:46 |
 sænder | we need more whale monkeys in cc | 22:44:34 |
|  lte13 joined the room. | 23:01:09 |
| lte13 changed their display name from lte-13 to lte13. | 23:12:01 |
| 21 Apr 2020 |
 mr.black | In reply to @bridge:decred.org
[discord/coli] I cant be wrong at 99.5% You can be | 01:27:46 |
| mr.black |
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The May Futures contract for the U.S. oil benchmark will expire after tomorrow
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When it expires, outstanding long positions would need to take physical delivery of crude
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Storage space for crude is close to being reached, no one wants it delivered
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Price collapses as everyone who is long wants to liquidate their positions / roll it over to the next contract (June)
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June is still trading above $20
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Excess supply and lack of demand has a fundamental basis thus can't be easily turned
Other factors that are adding to the extremis
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Retail has been buying the May contract in the thought that they were buying cheap while they were merely getting in an expiration trap and thus worsen the "run to the exits" situation.
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The agreed oil cuts from OPEC+ will not start in time for the current delivery.
Stick to BAT you troll. | 01:28:28 |
 karamble | they are selling suppliers to not deliver. | 01:31:28 |
| karamble | simple said. | 01:31:33 |
| karamble | paying i mean. | 01:32:00 |
| karamble | anyways same will happen with next month contracts easily, right? | 01:32:55 |
 jz | It’s an unknown but if the market stays oversupplied like this it could repeat. | 01:34:30 |
| karamble | even worst when countries had filled all emergency reserve tanks | 01:35:02 |
| karamble | but economies opening slowly, so we will find out. i do not expect a fuse demand. | 01:35:45 |
 degeri | how long can oil stay "unspoiled" | 01:38:15 |
| degeri | ? | 01:38:24 |
| karamble | Redacted or Malformed Event | 01:40:07 |
| mr.black | 
Download ima_fb60b9a.png | 02:23:21 |
| mr.black | I bought the dip | 02:23:34 |
| degeri | brah send me a couple . | 02:27:19 |
 michae2xl | 
Download ima_00cfbe6.jpeg | 02:28:16 |
| michae2xl | Petro backed by Oil | 02:28:24 |
| mr.black | In reply to @michae2xl:decred.org
Petro backed by Oil Get rekt | 02:28:38 |
| solar | F | 04:22:45 |
| solar | It's absurd that derivatives seem to have more power than the economics of the underlying assets | 04:23:41 |
| solar | At least for the time being | 04:23:46 |
| michae2xl | https://news.bitcoin.com/cftc-cryptocurrency-derivatives-bitnomial-bitcoin-futures/ | 05:11:23 |
| michae2xl | | 05:11:32 |
| michae2xl | * +1 | 05:11:40 |
 devwarrior | In reply to @solar:decred.org
It's absurd that derivatives seem to have more power than the economics of the underlying assets absurd? maybe .. but the money is there - not retail for sure | 08:34:19 |
