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re: Oil suffers record plunge below $11 amid historic glut

Posted on 4/20/20 at 1:26 pm to
Posted by RummelTiger
Official TD Sauces Club Member
Member since Aug 2004
93016 posts
Posted on 4/20/20 at 1:26 pm to
quote:

The oil producing factories liked that.


lulz...moron.
Posted by castorinho
13623 posts
Member since Nov 2010
86572 posts
Posted on 4/20/20 at 1:27 pm to
quote:

-8.61 Now for May Contracts.
Posted by dukke v
PLUTO
Member since Jul 2006
216143 posts
Posted on 4/20/20 at 1:27 pm to
Sorry rummy. Didn't mean to mess thread up.
Posted by Nado Jenkins83
Land of the Free
Member since Nov 2012
65222 posts
Posted on 4/20/20 at 1:27 pm to
well when we go back to having to rely on imports we shall see
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 4/20/20 at 1:28 pm to
quote:

The oil producing factories liked that.


I feel like your TD account is just rotated amongst 13 year olds
Posted by RummelTiger
Official TD Sauces Club Member
Member since Aug 2004
93016 posts
Posted on 4/20/20 at 1:28 pm to
quote:

Sorry rummy. Didn't mean to mess thread up.


There's a lot of baws having their truck nutz dropped on their chins today, so let's be respectful.
Posted by kjp811
Denver, CO
Member since Apr 2017
1068 posts
Posted on 4/20/20 at 1:28 pm to
quote:

Can anyone share a link to where they are seeing the negative prices?


CNBC
LINK
Posted by dukke v
PLUTO
Member since Jul 2006
216143 posts
Posted on 4/20/20 at 1:29 pm to
Gotcha.......
Posted by lsu xman
Member since Oct 2006
16713 posts
Posted on 4/20/20 at 1:30 pm to
So if anyone holds May contracts, they will have to pay someone $10/contract to buy it.
Posted by castorinho
13623 posts
Member since Nov 2010
86572 posts
Posted on 4/20/20 at 1:30 pm to
quote:

The oil producing factories
Posted by armsdealer
Member since Feb 2016
12277 posts
Posted on 4/20/20 at 1:32 pm to
So did things just stop at -$8.61???
Posted by PinevilleTiger
Pineville, LA
Member since Sep 2005
6358 posts
Posted on 4/20/20 at 1:32 pm to
Try negative $35!!
Posted by armsdealer
Member since Feb 2016
12277 posts
Posted on 4/20/20 at 1:33 pm to
Wait, nope, started getting worse. -$12
Posted by The Boat
Member since Oct 2008
175890 posts
Posted on 4/20/20 at 1:33 pm to
quote:

So if anyone holds May contracts, they will have to pay someone $10/contract to buy it.


Try $35.20
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 4/20/20 at 1:33 pm to
Closed at -$35
Posted by The Boat
Member since Oct 2008
175890 posts
Posted on 4/20/20 at 1:34 pm to
Are people just saying frick May and moving on to June contracts? It's like people moved on and wanted to see how low they could make May go today.
Posted by AllDayEveryDay
Nawf Tejas
Member since Jun 2015
9459 posts
Posted on 4/20/20 at 1:35 pm to
CNBC talking about something being broken in the market because -35 isn't possible.
Posted by thadcastle
Member since Dec 2019
2841 posts
Posted on 4/20/20 at 1:35 pm to
Will this cause the state of LA to go bankrupt? They are already in a shitty financial situation, oil is in the shitter and casinos are closed. I don't think they can do enough studies to get out of this one.
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 4/20/20 at 1:38 pm to
It will hurt the fracking

Louisiana oil has been in the shitter for 5 years
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 4/20/20 at 1:38 pm to
can someone ELI5 why this is happening wtf
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