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comment by ahosai
ahosai  ·  280 days ago  ·  link  ·    ·  parent  ·  post: Negative Oil Prices?

I just did some digging into this and it appears not to be true. USO rolled all of their May contracts to June contracts between April 7th and 13th. All of the speculators and funds have been out of the May contract for at least 8 days. This selloff was likely driven just by spot traders who were unable to take delivery on a contract that expires tomorrow.