Oil $1 a barrel

[Pogo]

You only lose money in the market when you sell. the market will rebound, it will go up again.

Yabbut the thread title sez earl's down to 17¢ a barrel, that's a long way back.

Think I'm gettin' ripped off at the pump too. Had to pay over a dollar last time out.

 

[Nostra]

An expert just said Canada is gonna get hammered over the next few months because they have no storage.

 

[LordBrownTrout]

You only lose money in the market when you sell. the market will rebound, it will go up again.

Yabbut the thread title sez earl's down to 17¢ a barrel, that's a long way back'

Think I'm gettin' ripped off at the pump too. Had to pay over a dollar last time out.

You're getting ripped. You need to buy it by the barrel.

 

[eagle1462010]

How do you buy stock when its negative??

 

[Pogo]

Nazi says she will stay on vacation until May 4, unless there is an emergency.

US oil prices turn negative as demand dries up

Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.

finance.yahoo.com

So what's so bad about cheaper oil? It's not like the oil companies are going to go broke, is it?

You really are dumb.

I will give your opinion all the consideration it deserves, but that still doesn't answer my question, does it?

A question that stupid deserves no answer.

Whereas a thread this stupid deserves the mockery it gets.

 

[Maxdeath]

$0.46

What's going on, as simple as you can make it?

Saudis and Russia got into an oil war. Saudis increased production simply by opening up more wells. The virus hit no one driving as much as before. A glut of oil no need for it.
Simple enough?

 

[Dick Foster]

O

$1.04 actually.

It costs more to buy a gallon of gasoline than it does a barrel of oil.

Incredible.

Oil actually went negative. That means they pay you to haul it away. Mass insanity?

 

[Pogo]

You only lose money in the market when you sell. the market will rebound, it will go up again.

Yabbut the thread title sez earl's down to 17¢ a barrel, that's a long way back'

Think I'm gettin' ripped off at the pump too. Had to pay over a dollar last time out.

You're getting ripped. You need to buy it by the barrel.

Ah yes, quantity discount. That's inconvenient but I'm willing to pay a quarter. That's a one-third markup.

 

[LeftofLeft]

Nazi says she will stay on vacation until May 4, unless there is an emergency.

US oil prices turn negative as demand dries up

Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.

finance.yahoo.com

For any crisis, it is best that she stay out of the way. Her lack of leadership on the stimulus and small business relief was on full display. I hope voters in November remember that to move her out of the Speaker seat.

 

[Toro]

-$40.32

 

[Nostra]

Nazi says she will stay on vacation until May 4, unless there is an emergency.

US oil prices turn negative as demand dries up

Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.

finance.yahoo.com

So what's so bad about cheaper oil? It's not like the oil companies are going to go broke, is it?

You really are dumb.

I will give your opinion all the consideration it deserves, but that still doesn't answer my question, does it?

A question that stupid deserves no answer.

Whereas a thread this stupid deserves the mockery it gtes.

Clearly it is over your head. Run along to an “Orange man bad” thread, Simpleton.

 

[Toro]

Some of this has to be driven by the financial futures markets. My guess is that someone is getting taken out, and margin positions are being cut. This makes no sense whatsoever.

 

[eagle1462010]

Ok.......my job is permanently TOAST..........so I'll see if my company is going to look at other options or start looking.

GAME OVER MAN.

 

[ZZ PUPPS]

How do you buy stock when its negative??

This is the MAY futures contract. There is no demand for oil and no place to store it. You have to take delivery at expiry unless you close the long position by selling the contract. No one wants to buy it, so the market has the longs by the short hairs.

 

[eagle1462010]

Some of this has to be driven by the financial futures markets. My guess is that someone is getting taken out, and margin positions are being cut. This makes no sense whatsoever.

They are taking out the Frackers perma aren't they??

 

[Pogo]

An expert just said Canada is gonna get hammered over the next few months because they have no storage.

An "expert" also just started a thread saying oil is 17 cents a barrel. "Experts" have no links, but Canadian oil storage, does.

 

[Toro]

The June contract is trading at $20.50. It's down 17%, but it's not trading at -$40.

 

[Care4all]

Ok.......my job is permanently TOAST..........so I'll see if my company is going to look at other options or start looking.

GAME OVER MAN.

??? I hope you are kidding???

 

[Mac-7]

I just filled up at $1.60

Looooooove it!

My last gasoline purchase was $1.27

it may be lower today

you know who else this is hurting?

the greedy state governments that depend on gas tax revenue

 

[eagle1462010]

Ok.......my job is permanently TOAST..........so I'll see if my company is going to look at other options or start looking.

GAME OVER MAN.

??? I hope you are kidding???

No.......I'm not kidding.