Welcome to Friday. Time for another Fat Pipe…
Could This Be the End of US Commodities ““Markets?””
It’s now completely obvious to all traders that the US government is busy suppressing the price of oil the only way it can; by rigging the oil futures market.
The techniques perfected over decades of silver and gold suppression were applied in the oil markets. Or, should I say ““markets?””
On the NYMEX one can buy or sell WTI oil futures contracts and Brent over on ICE. Oil is a continuous contract meaning that each month rolls over to the next month. Right now if you wanted to ‘buy’ 1,000 barrels of oil for June delivery the cost is only $95.42/barrel for Brent.
There are only 19 more days left in April to buy those barrels, meaning everybody with an open oil position will have to either settle up with physical deliveries, or ‘roll’ the contract to the next month, which will be for July delivery.
As you can see, the price of Brent on the futures market is nearly unchanged from where it was a month ago.
Since that time, shortages have been ramping up, more infrastructure has been damaged, and the Strait of Hormuz has remained blocked.
But what if you wanted to buy oil today, right now? You know, actual physical oil?
If that’s the case, then a barrel of Brent crude will cost you $142, the highest ever recorded.
This is exactly the same shenanigans
