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Oil Slides After ETFs Move Into Later-Dated Contracts

By Mike Jeffers (Bloomberg) — Oil fell after the biggest oil ETF said it would sell out of its June WTI futures position as physical oil storage levels continue to balloon. Futures in New York slid as much as 30%, snapping a four-day recovery as the United States Oil Fund LP said it will move all the money it invested […]

WP_Post Object ( [ID] => 224477 [post_author] => 21 [post_date] => 2020-04-28 18:05:24 [post_date_gmt] => 2020-04-28 18:05:24 [post_content] => oil storage tankersBy Mike Jeffers (Bloomberg) — Oil fell after the biggest oil ETF said it would sell out of its June WTI futures position as physical oil storage levels continue to balloon. Futures in New York slid as much as 30%, snapping a four-day recovery as the United States Oil Fund LP said it will move all the money it invested […] [post_title] => Oil Slides After ETFs Move Into Later-Dated Contracts [post_excerpt] => By Mike Jeffers (Bloomberg) — Oil fell after the biggest oil ETF said it would sell out of its June WTI futures position as physical oil storage levels continue to balloon. Futures in New York slid as much as 30%, snapping a four-day recovery as ... [post_status] => publish [comment_status] => open [ping_status] => closed [post_password] => [post_name] => oil-slides-after-etfs-move-into-later-dated-contracts [to_ping] => [pinged] => [post_modified] => 2020-04-28 18:05:24 [post_modified_gmt] => 2020-04-28 18:05:24 [post_content_filtered] => [post_parent] => 0 [guid] => http://gcaptain.com/?p=139778 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw )