Contango!

Not much to do with real estate, I’m just delighting in the new word I learned. Anyway, here’s another 1,000,000 barrel tanker filled with oil and anchored off Scotland – buy oil at $40, contract to sell it at $57m keep it ready for delivery until then, presto! Locked-in profit.

If the traders are right about where the price of oil is headed, however, this story may have an effect on real estate when you try to heat your home next winter.

3 Comments

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3 responses to “Contango!

  1. Phil Grimm

    SSSHHH! Don’t tell the Somali pirates where it is.

  2. Anonymous

    Happy to have taught you that word. It only seems fair for all of the things you have taught me in the last three years.