Considering the current crude oil negative price situation, I do have available storage for roughly 50,000 barrels. Can be twice that much within a week. Am I in the ballpark of being someone (a small business) that the oil company would be willing to conduct this transaction with? Thank you in advance
WTI delivery is out of a high-flow pipe in Cushing, Oklahoma. Then a railroad company can be hired to deliver 50,000 barrels as contained in 73 DOT-111 Tank Cars. Finally, the oil is pumped out of the tank cars and into destination system.
But the May futures contract is closed such that the current spot price is not really known to the public. The June futures contract, that closes in about one month, is about $14 a barrel.