COVID affected a lot of ways that we interacted with the world – it changed how we worked, how we socialized, how we entertained ourselves….and if you’ve been tuned into the markets over the past year, it also changed our expectations on how in the world Oil prices could have ever gone NEGATIVE. Last year this time we put out our “Crude Oil Goes Negative…WTF ^%$#?! Pod” and were talking with veteran trader Brent Belote about the sticky situation. In today’s episode, we brought Brent back on to take a walk down memory lane about how last year really happened, what’s changed over the year since, how oil traders are taking different approaches since then, and how is the industry ensuring that we don’t head back into the treacherous red zone. In addition to all of that, we’re also digging in further with Brent about his shift from NY to WY, demand bounce back (or lack there of) for oil, flashback to negative prices 1 year ago, the physicality of oil commodities, background on the oil markets, fly fishing, starting out at the JP Morgan desk, effects of COVID on the oil industry, alternative energy and electric cars, oil storage & capacities, and Cayler Capital’s continuing success.
Find the full episode links for The Derivative below:
Follow Brent Belote on LinkedIn and Twitter and check out Cayler Capital’s website.