oiltrader

The Oil Scam Driving Crude Over $80

Philip "Middlename=moore" davis,
Taking your specious logic forward, the NYMEX traders were incorrigible patriots when crude oil was in contango(i.e. near month contracts were priced lower than far month contracts) since they were willing to sell you oil at lower prices in the near term. The phenomenon you have written about is a result of crude oil being in backwardation(look up any advanced spreads article on google Mr. Dont-do-any-homework for the meaning of this). Crude oil has been in contango of over $1 for the better part of the last four years(sometimes by over $2 a barrel). So anyone long on oil and rolling over positions would be losing over $1 A MONTH. Does that make traders with long positions in a contango market patriots and the same traders traitors in a backwardated market????

I'm pretty sure you didnt understand a word of this. Please take some time off and take some elementary finance and trading courses .