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Started By
Message
May WTI Crude just fell to -$35.20
Posted on 4/20/20 at 1:34 pm
Posted on 4/20/20 at 1:34 pm
23
Posted on 4/20/20 at 1:35 pm to NC_Tigah
its was just -8.61
link?
link?
Posted on 4/20/20 at 1:35 pm to NC_Tigah
shite, someone pay ME $35/bbl to take this shite.
I’m sure there are ways to legally dispose of it cheaper than that.
I’m sure there are ways to legally dispose of it cheaper than that.
Posted on 4/20/20 at 1:35 pm to NC_Tigah
take my oil!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted on 4/20/20 at 1:37 pm to NC_Tigah
All storage is getting full. No where to go. Texas Gov Abbott is about to order all production to stop. Why give away their assets?
Posted on 4/20/20 at 1:38 pm to NC_Tigah
Now @ -$37.63
Posted on 4/20/20 at 1:39 pm to NC_Tigah
It's back "up" to -24.00
Posted on 4/20/20 at 1:43 pm to NC_Tigah
That means WTI is literally paying people to buy crude oil.
Posted on 4/20/20 at 1:44 pm to NC_Tigah
Time for the Dems to allow Trump to fill up all the oil reserves to the top.
Posted on 4/20/20 at 1:44 pm to NC_Tigah
I don't get it. How can something of tangible value be negative?
Posted on 4/20/20 at 1:44 pm to NC_Tigah
Has anyone figured out who's stuck, and tried to unload their position?
Posted on 4/20/20 at 1:45 pm to NC_Tigah
I'm really glad I'm not in any way dependent on the local LA economic picture.
This post was edited on 4/20/20 at 2:25 pm
Posted on 4/20/20 at 1:50 pm to NC_Tigah
How does that even work; they pay you to take it?
Posted on 4/20/20 at 1:51 pm to NC_Tigah
What are they doing at that point, putting it back in the ground?
Posted on 4/20/20 at 1:51 pm to NC_Tigah
The May oil futures contracts expire tomorrow. For holders of those contracts if they don't sell their contracts now, they will be obligated to take physical delivery of the oil.
Since there's no place to store the oil cheaply, the holders of those contracts are effectively selling the oil for the price the buyer would have to pay to store the physical oil.
Since there's no place to store the oil cheaply, the holders of those contracts are effectively selling the oil for the price the buyer would have to pay to store the physical oil.
Posted on 4/20/20 at 2:35 pm to NC_Tigah
Never should have shut down!
Posted on 4/20/20 at 2:37 pm to NC_Tigah
I know nothing about oil, but can the US add to the strategic reserves with prices like this?
Posted on 4/20/20 at 2:37 pm to NC_Tigah
The left said we were gonna run out of oil by 2000. I guess they were wrong.
Posted on 4/20/20 at 2:38 pm to NC_Tigah
Welp, I guess i'll be fired soon!
Posted on 4/20/20 at 3:05 pm to NC_Tigah
Here's the real pricing from the major hubs:
That being said I'm hearing some strange shite on spot offers from midstream purchasers in the field.
That being said I'm hearing some strange shite on spot offers from midstream purchasers in the field.
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