Tmalan

Options Trader: Friday Outlook

"Im sure the US traders trade against those bad people to keep oil down because they are worried what high prices will do to our country."

Can you explain this a little better? I do not understand how they can trade against Iran directly in an Oil futures market. From what I understand, producers (which I believe would be OPEC here) do not lose any money on futures. They break even when the future expires when in contango or selling on spot market when in backwardation. Either way it is a net sum in the difference in price.

They would however, make profit from the delivery price vs the cost of producing, storing, and/or shipping the oil when that difference is positive for them. Am I mistaken?