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United States Oil ETF Message Board

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  • manylumen manylumen Jan 23, 2009 9:57 PM Flag

    cushing oil supply

    Perhaps this is a major reason tanker ships are being used for storage. If purchasers of crude are certain (if anyone can be certain), that price of oil goes higher, then filling up the tanks makes all the sense in the world. On the other hand perhaps some big oil might have contracted for more oil than they need to refine and have to go to the tanker storage. I also wonder if opec is planing major cuts big oil wants to load up now before supply is limited and prices rise. Still many analysts saying oil is going back to $80 in 2009.

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