Oil Futures
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wrote on 20 Apr 2020, 14:26 last edited by
Can't find the link right now, but earlier I read that gasoline sales are down 30% across the country.
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wrote on 20 Apr 2020, 14:27 last edited by
May futures expire tomorrow. If you're long you gotta accept delivery. There's no where to store it. In theory it could go negative.
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wrote on 20 Apr 2020, 14:30 last edited by
Good time to replenish the strategic reserve.
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wrote on 20 Apr 2020, 14:30 last edited by
If you only have storage capacity for n barrels, barrel n+1 is industrial waste.
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wrote on 20 Apr 2020, 14:31 last edited by
Yes it is, Mik.
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wrote on 20 Apr 2020, 14:46 last edited by
How much can we charge to store it?
If you look way out I think it’s still 45 a barrel.
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wrote on 20 Apr 2020, 14:50 last edited by
@Mik said in Oil Futures:
Good time to replenish the strategic reserve.
The feds have been doing that, haven't they?
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wrote on 20 Apr 2020, 14:52 last edited by jon-nyc
@Loki said in Oil Futures:
How much can we charge to store it?
If you look way out I think it’s still 45 a barrel.
Not that high, but yeah, this is all about storing oil at 3pm on Wednesday in Cushing, Oklahoma.
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wrote on 20 Apr 2020, 14:55 last edited by
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wrote on 20 Apr 2020, 15:07 last edited by
Man, if you had a place to store it.....
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wrote on 20 Apr 2020, 15:10 last edited by
I'd love to know what's happening behind the scenes right now on the physical side.
It's gotta be crazy.
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wrote on 20 Apr 2020, 15:10 last edited by
We have room for another 90 million barrels right now. We should get it.
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wrote on 20 Apr 2020, 16:40 last edited by
I don't really understand oil futures. Maybe I'm the only one.
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wrote on 20 Apr 2020, 16:42 last edited by
I mean, I've google'd but still... what a different world to do business in.
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wrote on 20 Apr 2020, 17:58 last edited by
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wrote on 20 Apr 2020, 17:59 last edited by
It just hit 10 cents a barrel.
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wrote on 20 Apr 2020, 18:10 last edited by
Negative : -1.43 a barrel. Unbelievable.
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wrote on 20 Apr 2020, 18:12 last edited by
At this rate, they are going to pay us to fill up our cars.
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wrote on 20 Apr 2020, 18:44 last edited by
Sooooo........should I buy Halliburton?
Is this just reflecting the surplus in supply, minimal demand, and no place to store the actual dinosaur juice?
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May futures expire tomorrow. If you're long you gotta accept delivery. There's no where to store it. In theory it could go negative.
wrote on 20 Apr 2020, 18:50 last edited by jon-nyc@jon-nyc said in Oil Futures:
May futures expire tomorrow. If you're long you gotta accept delivery. There's no where to store it. In theory it could go negative.
And it did!
https://www.barrons.com/articles/oil-futures-fall-below-1-for-first-time-ever-51587406408