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Started By
Message
re: WTI Crude at less than $8/bbl right now. Good investment?
Posted on 4/20/20 at 1:42 pm to saints5021
Posted on 4/20/20 at 1:42 pm to saints5021
Am I the only one that doesn’t understand WTF is going on? Like what does -35 mean? Is that just for next months oil price?
1
Posted on 4/20/20 at 1:42 pm to saints5021
So how does it work?
Do they pay someone $40/bbl to take delivery in May?
Do they pay someone $40/bbl to take delivery in May?
Posted on 4/20/20 at 1:44 pm to RebelExpress38
quote:
Y’all I’ve got this new penny stock, it’s called Crude Oil. Been around forever but it has some promise in energy
Thanks for the gallows
Posted on 4/20/20 at 1:44 pm to bhtigerfan
It means someone owned a contract, but they don't want a delivery, so they have to unload it or find a way to store whatever amount they bought.
Posted on 4/20/20 at 1:46 pm to MAUCKjersey1
(no message)
This post was edited on 4/20/20 at 1:55 pm
Posted on 4/20/20 at 1:46 pm to nugget
It costs money to store oil, of which they have too much. Hence why the cost is negative.
Posted on 4/20/20 at 1:47 pm to RJSambola
quote:So it’s a storage problem at this point?
It means someone owned a contract, but they don't want a delivery, so they have to unload it or find a way to store whatever amount they bought.
Posted on 4/20/20 at 1:47 pm to hiltacular
Yup. Speculators will be losing money by taking delivery
Posted on 4/20/20 at 1:48 pm to bhtigerfan
Aside from storing a bunch of barrels in the backyard, how does one take advantage of this? What do I buy?
Posted on 4/20/20 at 1:48 pm to bhtigerfan
How many barrels of oil can a semi tanker hold?
Posted on 4/20/20 at 1:48 pm to 13SaintTiger
unless you bought it at -$40.00 per barrel.
Posted on 4/20/20 at 1:49 pm to bhtigerfan
Bobtail 70-80
Transport 160-180
Transport 160-180
Posted on 4/20/20 at 1:50 pm to Boh
quote:Basements and garages are open for storage too. In reality, I have no idea what a regular joe would/should do, and I suspect doing nothing is the best option.
Aside from storing a bunch of barrels in the backyard, how does one take advantage of this?
Posted on 4/20/20 at 1:51 pm to castorinho
So what should I buy or invest in
Posted on 4/20/20 at 1:55 pm to Boh
Problem solved. Only $8k. Couple of these in your backyard. Profit.
This post was edited on 4/20/20 at 1:58 pm
Posted on 4/20/20 at 1:56 pm to bhtigerfan
Posted on 4/20/20 at 2:00 pm to Boh
Can you imagine, at $.01/bbl you could buy 100,000 barrels of oil for $1,000.
How the hell would it work at -$40/bbl?
How the hell would it work at -$40/bbl?
This post was edited on 4/20/20 at 2:02 pm
Posted on 4/20/20 at 2:02 pm to Dodd
Yeah this is kind of fake news. The curve is $20s in summer and mid-$30s in fall and winter.
Posted on 4/20/20 at 2:03 pm to bhtigerfan
quote:
Can you imagine, at $.01/bbl you could buy 100,000 barrels of oil for $1,000.
How the hell would it work at -$40/bbl?
Do you have somewhere to put it that the EPA will allow? Are you willing to pay to transport it there? Will you pay to transport it to a customer if you are ever able to sell it for a profit?
This post was edited on 4/20/20 at 2:04 pm
Posted on 4/20/20 at 2:04 pm to bhtigerfan
Can we do a money board pool here? I'll kick in $500 if someone takes the lead on doing this.
Like an office lottery play, if you will
Like an office lottery play, if you will
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