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Started By
Message
WTI Crude at less than $8/bbl right now. Good investment?
Posted on 4/20/20 at 11:49 am
Posted on 4/20/20 at 11:49 am
35 year lows. Would oil futures be a great investment right now? I don’t have the money nor the knowledge to do it, but those sitting on a pile of cash may.
Edit: Holy shite, it’s now at $2.80/bbl.
Edit: Holy shite, it’s now at $2.80/bbl.
This post was edited on 4/20/20 at 12:49 pm
9
Posted on 4/20/20 at 11:55 am to bhtigerfan
Ho
Lee
Shat
Lee
Shat
Posted on 4/20/20 at 11:56 am to bhtigerfan
Well, it under $5 now. So....
This is just the may contract FWIW
This is just the may contract FWIW
Posted on 4/20/20 at 11:56 am to jimbeam
Me right now
Posted on 4/20/20 at 12:00 pm to castorinho
Might have to grab some USO. OPEC can't leave these prices here can they?
Posted on 4/20/20 at 12:04 pm to Janky
quote:
OPEC can't leave these prices here can they?
OPEC is pretty well neutered at this point. They maybe had the chance to dodge this by coming to some type of agreement at their meeting (pre-Covid19), but yeah KSA and Russia pretty much just shot themselves in the face. Will be a lot of social unrest there and in other countries where oil is their lifeblood (Iran, Venezuela etc.)
Nobody has any power to move this higher, all the cards have been played. They only thing that'll make this go up is restarting the economy and for a lot of shale companies to go bankrupt.
This post was edited on 4/20/20 at 12:08 pm
Posted on 4/20/20 at 12:10 pm to Boring
Brent is at $26, not great but a hell of a lot better than <$5.
Posted on 4/20/20 at 12:11 pm to TigerDeBaiter
quote:
This is just the may contract FWIW
This. If you can take delivery of it then maybe. But, if you cannot then you better hope it goes up very quickly.
Posted on 4/20/20 at 12:25 pm to bhtigerfan
Store 20 barrels in your back yard and see if it'll get back to $30 one day.
Posted on 4/20/20 at 12:27 pm to bhtigerfan
OP, your clearly not active in the commodity space. This would not be the time to dabble.
Sure you could buy a June contract, but if this keeps up and you get caught holding the bag at delivery time you are screwed.
Sure you could buy a June contract, but if this keeps up and you get caught holding the bag at delivery time you are screwed.
Posted on 4/20/20 at 12:28 pm to mule74
This may be a dumb question
Could we end up seeing shortages at some point? Why pump when it has crashed like this
Could we end up seeing shortages at some point? Why pump when it has crashed like this
Posted on 4/20/20 at 12:32 pm to Janky
quote:
Might have to grab some USO. OPEC can't leave these prices here can they?
I bought some calls and I'm up 10% so far today
Posted on 4/20/20 at 12:33 pm to jlnoles79
quote:Well, storage is damn near full.
This may be a dumb question
Could we end up seeing shortages at some point? Why pump when it has crashed like this
Pipeline companies are even reactivating old lines just to store crude for a while. But that's a finite number.
Posted on 4/20/20 at 12:34 pm to bhtigerfan
@ 1.50
Im gonna buy some to fill up my pool
Im gonna buy some to fill up my pool
Posted on 4/20/20 at 12:34 pm to bhtigerfan
Hope you held off on that, ed at three fiddy
Posted on 4/20/20 at 12:36 pm to jlnoles79
(no message)
This post was edited on 12/3/23 at 12:44 pm
Posted on 4/20/20 at 12:37 pm to Boringaccountant
So someone will pay me to fill up my pool. I’m game.
Posted on 4/20/20 at 12:37 pm to bhtigerfan
In capitalist west Texas oil pay you.
Posted on 4/20/20 at 12:38 pm to jimbeam
Is the barrel included in the $1.50?
If so, we got a deal.
If so, we got a deal.
Posted on 4/20/20 at 12:40 pm to TigerDeBaiter
The CME Group just announced that they'll allow the May contract to trade negative - first time in history.
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