Comment on DHL Set to Transport Goods on New Wind-Powered Cargo ShipsComments−CodeWriter232mo"The wind-powered boats could be especially appealing when oil prices have shot up because of the Iran war."Check of oil prices same day article was published:WTI $73.51/bbl BRENT $77.57/bbl MURBAN: $70.46/bbl−citrin_ru2moWhat we see in quotes is not the price of oil being shipped right now; it is usually a one-month futures contract. Traders expect that by this time, Hormuz will reopen. If it does not, they will lose money, but the actual price could be much higher.−CodeWriter232moClose to the bottom price over the past 5 years is what it is.
Comments
Check of oil prices same day article was published:
WTI $73.51/bbl BRENT $77.57/bbl MURBAN: $70.46/bbl
What we see in quotes is not the price of oil being shipped right now; it is usually a one-month futures contract. Traders expect that by this time, Hormuz will reopen. If it does not, they will lose money, but the actual price could be much higher.
Close to the bottom price over the past 5 years is what it is.