CNBC Squawk On The Street July 13, 2024
Week yeah. This is the expiration day so what happens is you actually its tomorrow, but people are trying to prep it what happens is rusty braziel explains to me, the rollover from the may contract to june occurs tomorrow. The reason that happens is because the may futures price converges with cash and expiration so in other words, youre looking at what the real price is its not the futures price so what happens is that imagine if youre producing at 32 a barrel, 33 a barrel like occidental, thats just youre hurting nobody can make any money at these prices rusty points out that after seeing th...