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Oil price negative?


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Oil price negative?

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kevinkdog View Post
I think they already were at 200% margin. They must have had some accounts with big exposure, and TS decided they did not want to be left holding the bag in case something really bad happens. Crazy times

CME Member Margin for Jun20 today is $6,400 and tomorrow when it becomes prompt will be $7,500. Non Member rates 110% of that so $7,040 and $8,250. That's quote a lot of protection. Maybe the craziest thing about this is that the K/M *SPREAD* has moved $50 two days in a row. The margin requirement for the spread itself is only $2500! For June/July it's only $1100!

https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_performance_bonds.html#sortField=exchange&sortAsc=true&clearingCode=CL&sector=CRUDE+OIL&exchange=NYM&pageNumber=1

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  #72 (permalink)
 
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GFIs1 View Post
PS: after the June contract is in minus it will certainly be followed by July etc.: as the musician reads "da capo al fine" which means from the beginning again to the end - lol -

I've been asking this for over a month. Unless Demand exceeds Supply for June isn't the situation worse in June than it was for May? I think the big contango spread should always have been June/July or maybe even July/August.

Raise your hand if you think Demand exceeds Supply for June?

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Bid ask in CLK0 is nearly $2 wide and settlement range doesnt start for 50 mins

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My broker TD Ameritrade stopped taking orders on the June contract about 10 minutes ago. Can’t trade it.

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June down $13

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SMCJB View Post
I've been asking this for over a month. Unless Demand exceeds Supply for June isn't the situation worse in June than it was for May? I think the big contango spread should always have been June/July or maybe even July/August.

Raise your hand if you think Demand exceeds Supply for June?

It is just only a physical problem:
If you stop a well (fracking) it is DESTROYED.
Thus supply at this moment of over flooding stocks in USA and in Arabic states of course are higher than any demands since a year. Direction for next months is clear!

GFIs1

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Jun-Dec/Bal-Year strip was down $6.80 today from $28.50 to $21.70 a drop of about 25%. Implications to the US oil industry....

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@bassa looks like you weren’t alone.

https://www.businesswire.com/news/home/20200421005853/en/Interactive-Brokers-Issues-Statement-Crude-Oil-Contracts


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addchild View Post

Thats rare for IB they are known for being extremely aggresive in liquidating client accounts at the smallest hint of a margin call. I wonder whether their liquidations also didnt work because of the negative price issue?

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 addchild 
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SMCJB View Post
Thats rare for IB they are known for being extremely aggresive in liquidating client accounts at the smallest hint of a margin call. I wonder whether their liquidations also didnt work because of the negative price issue?



That’s my assumption.

I also assume if anyone tried to call the trade desk they also wouldn’t have been able to get you out.


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