";s:4:"text";s:5484:" We’ll start with No. In addition to consulting for both the public and private sectors, I testify regularly before the U.S. Congress, and appear on Bloomberg, CNN, FOX, BBC, Al Jazeera, and other TV channels. Oilers' Doug Weight Trade Revisited July 26th, 2020. Cushing, Oklahoma, the tiny town of less than 10,000 people that serves as the main U.S. storage hub, was 70% full as of last week, and traders say it will be full within two weeks.“We saw a total collapse in the market. At one point the contract hit negative $40. My consultancy focuses on political risk, national security, and energy policy, especially in Russia/Europe/Eurasia, and the Middle East. ... Bad Contracts Unloaded! NHL Rumors: Red Wings, Oilers, Maple Leafs, Chayka, More July 26th, 2020. Failure to physically take the purchased deliveries would result in exorbitant storage fees from the seller, so the investors holding these contracts were desperate. But in this instance, there was no one willing to buy May’s expiring contact, so speculators were left scrambling looking for buyers. 10. When oil contracts expire, the holder has to take possession of 1,000 barrels of oil for every contract they own, delivered to Cushing.Investors sold the May futures contract due to expire on Tuesday in a series of waves. The U.S. Oil Fund, which tracks the price of various oil futures contracts, fell just 10%.. Trading volume was also relatively thin in the May contract. The Dow Jones did not respond positively to today’s events either, closing down a whopping 600 points.And herein lies the problem for WTI. Sum: $1,000,000 $1,000,000 $1,000,000 Nick Kypreos phones in to give his take on the trade between the Flames and Oilers. At one point the contract hit negative $40. “It could get worse. Oil traders and speculators rarely have the physical capacity to hold the crude they buy, despite being legally bound to take it by their contract. The perfect storm of bad contracts contains all three, and some of my picks for the league’s 10 worst deals fit that description. I am a Senior Fellow at the Atlantic Council and the Founding Principal of International Market Analysis, a Washington, D.C.-based global risk advisory boutique. Tim and Danielle discuss the Milan Lucic and James Neal traded that broke on Friday afternoon. Result: Florida receives Oilers 2019 3rd round pick. Investors sold the May futures contract due to expire on Tuesday in a series of waves. Even the recent deal by OPEC and other major oil-producing countries to reduce supply will not be fast enough, nor large enough, to drain the millions of barrels of unneeded crude present in the markets.Analysts say this type of market dislocations could recur in coming months because fuel supply will outweigh fuel demand for the foreseeable future. On that day, the front-month May West Texas Intermediate oil contract US:CLK20 traded $14.45 a barrel below the September contract CLU20, +0.65%, the data showed.