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re: Oil down to 17 dollars bbl
Posted on 4/20/20 at 9:12 am to Ace Midnight
Posted on 4/20/20 at 9:12 am to Ace Midnight
(no message)
This post was edited on 2/1/21 at 11:57 pm
3
Posted on 4/20/20 at 9:15 am to GeauxFightingTigers1
quote:
some of this demand never comes back
I wouldn’t bet on that. There are still billions living in poverty whose energy demand is increasing. This will a blip (much larger blip than in the past I agree) on the overall march higher in consumption. We won’t see peak oil demand until beyond 2040. We’ll consume more in 2022 than we did in 2019.
Posted on 4/20/20 at 11:40 am to Lakeboy7
Yup.
$7 handle right now. Blood bath. Unless tariffs for a short spike, good chance for a 5 handle than zero.
$7 handle right now. Blood bath. Unless tariffs for a short spike, good chance for a 5 handle than zero.
Posted on 4/20/20 at 11:42 am to GeauxFightingTigers1
quote:Just to be clear, June is trading above $20. If oil is anything like gas, I'm guessing you try to get out on the 2nd to last day because the regulators look for any financial manipulation of the physical price on the final day.
$7 handle right now. Blood bath. Unless tariffs for a short spike, good chance for a 5 handle than zero.
Posted on 4/20/20 at 11:48 am to Big Scrub TX
quote:
Just to be clear, June is trading above $20. If oil is anything like gas, I'm guessing you try to get out on the 2nd to last day because the regulators look for any financial manipulation of the physical price on the final day.
Gotacha, now spot is hitting $5s, wow!
Update, 4 handle, some trading in low $4s.
This post was edited on 4/20/20 at 11:59 am
Posted on 4/20/20 at 11:55 am to SDVTiger
quote:
I'm predicting it hits 5 a bbl And will still be 3 dollars a gallon here in Cal
$1.21 here in Alabama
Posted on 4/20/20 at 11:59 am to Loserman
$4.13 @ 1155 and up to 5.o5 @ 1200CT.
Posted on 4/20/20 at 12:19 pm to rgsa
3 handle, wow, this is crazy sauce and I was kind of expecting this... just not quite this fast.
Update: 2 handle a minute later LOL The should buy gas and oil, pay me to fill up my car.
Update: 2 handle a minute later LOL The should buy gas and oil, pay me to fill up my car.
This post was edited on 4/20/20 at 12:21 pm
Posted on 4/20/20 at 12:20 pm to GeauxFightingTigers1
just fell off the cliff in the last 1/2 hour. Down to $3 a barrel.
Posted on 4/20/20 at 12:24 pm to udtiger
We just bought another 10000 gal fuel tank. The savings on the fuel from what we payed last year payed for the tank. Off road diesel is $1.07 today.
Posted on 4/20/20 at 12:25 pm to highcotton2
Posted on 4/20/20 at 12:25 pm to udtiger
$2.33 and dropping.
Posted on 4/20/20 at 12:27 pm to GeauxFightingTigers1
This is unreal.
Yet another reason my wife and I will fight about reopening too soon.
Yet another reason my wife and I will fight about reopening too soon.
Posted on 4/20/20 at 12:27 pm to Lakeboy7
quote:
quote:
Trump should literally buy all the oil under $20 as a "grand" strategic reserve
Nowhere to store it.
The SPR has room...it's not part of the storage issue.
Posted on 4/20/20 at 12:28 pm to cwill
Craziest day in oil history. It’ll bounce back to the teens in a couple weeks but holy shite.
Posted on 4/20/20 at 12:30 pm to TeLeFaWx
quote:
Craziest day in oil history. It’ll bounce back to the teens in a couple weeks but holy shite.
There is no storage, so unless someone buys it and burns it... probably in the neighbor of 20-30mb a day too much, where does it go?
I'm seeing 1 handle now, technically $2.00 even.
Update, spot $1.55.. and still smoking.
This post was edited on 4/20/20 at 12:34 pm
Posted on 4/20/20 at 12:31 pm to GeauxFightingTigers1
quote:
3 handle, wow, this is crazy sauce and I was kind of expecting this
I'd heard some things, but I didn't expect fricking 3...$3!
Also WTI isn't what oil is being sold for across the board. The hub pricing is worse:
Western Canadian Select is also negative at -$1.
Posted on 4/20/20 at 12:34 pm to cwill
Jesus H Christ.
Stop pumping it out the ground and refuse Saudi shipments.
Random question cause I am naive...
Why can't we shut off all imports of oil and just become self-sustaining? I get we need heavier crude but is it really worth this blood bath?
Stop pumping it out the ground and refuse Saudi shipments.
Random question cause I am naive...
Why can't we shut off all imports of oil and just become self-sustaining? I get we need heavier crude but is it really worth this blood bath?
Posted on 4/20/20 at 12:34 pm to Loserman
quote:
$1.21 here in Alabama
Still 3 here in Cali
Soon we will just be paying 2.50 all Cali tax
Posted on 4/20/20 at 12:34 pm to Lakeboy7
Change the thread title. Just dipped below $2
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