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re: Oil suffers record plunge below $11 amid historic glut
Posted on 4/20/20 at 1:10 pm to redstick13
Posted on 4/20/20 at 1:10 pm to redstick13
quote:
This issue was created entirely by the US
Exactly right. When the shale oil guys flooded the US to capacity years back they should have shown restraint. Instead they lobbied and got the export ban lifted to move their high gravity oil. Now they face no market at all for the product they are producing as what demand comes back will be sourcing heavy and regular gravity oil that doesn't come from shales.
2
Posted on 4/20/20 at 1:11 pm to TigerDog83
In the negatives now
Who's paying me?
Who's paying me?
Posted on 4/20/20 at 1:11 pm to lsu xman
Yeah, nobody wants to pay for storage
When the demand in May gets back to more than normal, the shite will go up faster than it came down
It is unfortunate for the ones that couldn't stay viable, but will be even better for the ones left standing
When the demand in May gets back to more than normal, the shite will go up faster than it came down
It is unfortunate for the ones that couldn't stay viable, but will be even better for the ones left standing
Posted on 4/20/20 at 1:11 pm to TigerDog83
-$1.43 now
Posted on 4/20/20 at 1:11 pm to lsu xman
Whoever held onto contracts until the day of expiry in this market, little tough to feel for. Luckily May was a very small part of overall trade across today because anyone with a brain started rolling over the past few weeks
Posted on 4/20/20 at 1:11 pm to WaWaWeeWa
Price of gas is important. I would love to fill up at $1 a gallon. But at this point there is nowhere to go.......
Posted on 4/20/20 at 1:12 pm to BallsEleven
quote:
In the negatives now
Who's paying me?
What do you use to see the price?
Posted on 4/20/20 at 1:12 pm to TheIndulger
Turn it on CNBC
Posted on 4/20/20 at 1:12 pm to dukke v
Where are you tracking negatives, everywhere I look it is showing it stuck at $.01
Posted on 4/20/20 at 1:13 pm to wahoocs
By July 4th we will be paying $4 a gallon for gas......
Posted on 4/20/20 at 1:13 pm to TheIndulger
Any news network
Posted on 4/20/20 at 1:13 pm to dukke v
(no message)
This post was edited on 10/18/21 at 4:51 pm
Posted on 4/20/20 at 1:14 pm to dukke v
quote:
By July 4th we will be paying $4 a gallon for gas......
This scenario is absolutely impossible.
This post was edited on 4/20/20 at 1:15 pm
Posted on 4/20/20 at 1:15 pm to dukke v
You’re such an idiot
Posted on 4/20/20 at 1:15 pm to lsutiger2010
Ok you just watch once the economy is back to what ever normal will be. Once that happens there will be tons more people on the road compared to now. It won't take long at all to use up those reserves.
Posted on 4/20/20 at 1:16 pm to dukke v
Just stop
Posted on 4/20/20 at 1:16 pm to dukke v
quote:
By July 4th we will be paying $4 a gallon for gas......
Highly doubtful
Posted on 4/20/20 at 1:16 pm to dukke v
I hope you're right.
But you won't be.
But you won't be.
Posted on 4/20/20 at 1:16 pm to dukke v
Dude step away from the discussion. You're so wrong with this thinking.
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