Posted 3/25/2015 08:19 (#4475717 - in reply to #4475696) Subject: RE: You don't have to "store" crude above ground..
Ontario's middle east
You can't ignore the spreads Jon. They aren't pumping it to storage hoping it will go up in price. The spreads are telling them what to do. Buy it in the nearby and sell it it in the deferred. It's all about capturing the contango. Things have changed dramatically from the bullish backwardated markets. Remember the whole don't store into inversions thingy? The opposite applies as well.
20 Million Barrels of Pure Profit Sitting in U.S. Oil Tanks
