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04-20-2020, 01:11 PM | #1 |
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Crude oil now $0.01 per barrel
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04-20-2020, 01:22 PM | #4 |
i'm just saying
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filling up a pool with crude oil right now makes pretty sense..
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04-20-2020, 01:30 PM | #6 |
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04-20-2020, 01:32 PM | #7 |
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Right and its for West Texas Crude which is primarily USA based but... lets' say the contract goes up to $10... is that a feasible number for US oil to survive? I dunnnooooo.
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04-20-2020, 02:05 PM | #9 |
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04-20-2020, 02:27 PM | #11 |
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-36... End of contract antics, next contract not negative.
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04-20-2020, 02:31 PM | #13 |
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The monthly futures contract expires tomorrow. You have ETF's and other funds trading/holding those contracts and they are selling. Owning a futures contract is a contract to take physical delivery of the oil which of course nobody wants so they are rushing to sell rather than take delivery. Think Trading Places... "get back in there and sell"
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04-20-2020, 02:36 PM | #15 |
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And keep in mind this is for WTI (oil benchmark here in the US). Brent is still $25.70 so this is a unique situation in the US futures markets.
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04-20-2020, 03:15 PM | #17 |
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I am willing to trade a roll of toilet paper for a barrel of crude oil.
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04-20-2020, 03:17 PM | #18 |
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04-20-2020, 04:00 PM | #19 |
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Finally my M2 Competition is affordable to drive! Stick it you Prius driving #(#$(*&$
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04-20-2020, 04:08 PM | #20 |
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Light traffic due to covid, not a lot of cops on patrol, super cheap premium gas and and a thirsty super charged Corvette, all signs point to.... I’m gonna have some fun this weekend!
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04-20-2020, 04:33 PM | #22 |
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soooo
gas is cheaper than filling up a tesla ? *laughs in internal combustion*
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