Oil prices are unchanged this morning, after falling on Friday, as the October WTI futures contract expired. And it expired in very weak fashion; sinking below the November futures contract in price, end a long period of backwardation. The decline in crude oil inventories at the Cushing, OK delivery point was thought to be sufficient to cause a squeeze or even a delivery failure against the expiring positions, but that did not happen. In fact, there appears to be ample crude oil in place to meet the delivery requirement.
This content is for Trading/Hedging Consultation Package members only.
Register
Register
Already a member? Log in here