With the Mar WTI now rolled into Apr, which is much pricier, I'm contending against some strong negative roll yield on the Apr if I remain long the front month. When there's such a steep contango, the newly-rolled front month tends to slide down to prices near where the previous front month had traded. This had happened when Feb WTI rolled into Mar, when Mar promptly sold off. As such, I'm taking off all 4 legs of my oil trade to take a break from this craziness. I will still make select daytrades based on technicals.
With oil skyrocketing, the distillates can't keep up, and refining margins are falling a bit. Not sure if refiners will continue ripping or not. Stagnating oil hasn't kept the oil majors from mini-ripping for the last few months.
