RE: Oil update

Oil just popped. A couple of factors, the DOE short term report cut OPEC spare capacity projections and also cut non-OPEC production estimates. We have rallied up to $101.53 in M4 (up nearly .80 from this morning). The collar is now trading at $2.00

Good morning. DOE scats came out this morning and with a draw of 5mm barrels of gasoline, WTI rallied. The collar is now trading at $2.40 with June 14 WTI trading at $102.20

Dovish FOMC minutes sent all markets rallying. M4 WTI has moved up to $102.65 and the collar is now worth $2.60 as we head into the close.

Story that NATO expects Putin to try for "full occupation" of Ukraine one of the reasons oil is so well bid suddenly.

With June WTI trading at $102.90, the collar is now worth $2.78

Please always include p&l , levels alone arenot interesting

Sure. So on the oil collar, you own 100 lots and paid nothing for it, so that is now worth $355,000. The copper, you own 50 lots for which you paid $331,250 and that is now worth $281,250.

We have DOE oil stats at 10:30am NY time today which could move oil market in either direction significantly.

Jeffrey - just a reminder on this one, the June WTI contract expires 5/15.