No. of Recommendations: 3
...so I don't know how the system really works.
According to the net sifter, "settlement date", the date the execution price of the contract is set, was May 19th. First date of physical delivery is June 1.
According to the chart for $WTIC. the price on the 19th was a smidge over $104/bbl. Now, after a week of "peace is at hand" chatter, the price is $88.05.
https://stockcharts.com/sc3/ui/?s=%24WTICWould it be possible for someone with...outsized influence on the narrative regarding the status of the Strait, settle a contract at $104 on the 19th, then buy crude at $88 today, and deliver it on June 1? Just wondering.
Steve
