Originally Posted by
Spaceman Spliff
This JPWA was negotiated in a panic with oil at $140 and climbing.
It's now at $120 and dropping.
Oil was just below the $120 mark when the contract was negotiated. Yes it was on the rise but most were expecting $130 oil max not the $148+ it went too. Oil will rise again in the near future just wait..... I hope we are buying hedges in todays market!