Wow. Look at this oil contango today. Amazing. I wrote about this opportunity here. Every day that contango stays here, more and more VLCCs are put away for storage because there is 100 percent certainty that traders will take the free money arbitrage.
The oil excess situation around the world is like an overflowing toilet. The shit keeps coming out and no tweet can stop it. Trump can tweet all he wants, but oil is coming out and it has to go somewhere. It is going onto the oil tankers.