You probably already read about this in the FT. Looks like other firms found out that SemGroup was short so they were buying more and more long to drive there competitor under forcing the crude price ever higher and higher. After SemGroup's BK the competitors are selling crude cause they no longer have any reason to buy long. Wow! Mean world out there!
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Hey James,
Jul 27 11:05 am
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All Comments by Shaggieman »What's the Right Price for Oil? [View article]
You probably already read about this in the FT. Looks like other firms found out that SemGroup was short so they were buying more and more long to drive there competitor under forcing the crude price ever higher and higher. After SemGroup's BK the competitors are selling crude cause they no longer have any reason to buy long. Wow! Mean world out there!
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