US Oil Prices @ Negative... WTF!?!?
- Thread starter Fuazii
- Start date
tarman5490
Junior Member
- Nov 5, 2014
- 198
- 56
madness. costs more to store or close the well than to give it away for free
crazy times we live in
crazy times we live in
DulalKisku
BANNED
- Jun 4, 2016
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Capitalism dies.
- May 12, 2019
- 956
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This is not as bad as it seems. Why? Because these are future contracts for May only and it will expire on Tuesday. So this price sentiment reflects what people expects to happen May (i.e no storage, pay to get if off their hands etc) but June oil contracts will be much better (cos people anticipate things to get better) so the June oil price will get back to above $20 after Tuesday.
D
Deleted member 1207404
Guest
Not free they have to pay to give it away.
pantyhoseblog
BANNED
- Apr 6, 2020
- 15
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paradox in my country....tomorrow gas prices to go up
JeanFerreira
Regular Member
- Dec 19, 2014
- 297
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Yeah, unbelievable times we're living right now, oil companies are paying to people now...
tarman5490
Junior Member
- Nov 5, 2014
- 198
- 56
i know...hence why i said it costs MORE to store or close well.
so obv they will pay to give it away
SamAnton
Junior Member
- Apr 23, 2019
- 156
- 60
something doesn't make sense here we pay consumers to buy from us in order to keep producing so we don't run out of storage that's fine but the price doesn't even cover the extraction expenses we're fucked up anyway why would i do that?is it a market share related matter?
Fuazii
Regular Member
- Aug 6, 2019
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SamAnton
Junior Member
- Apr 23, 2019
- 156
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ziko12345
Elite Member
- Sep 29, 2019
- 2,524
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Sooooo.... you get paid to BUY oil ??
ObsidiaSpectre
Newbie
- Apr 17, 2020
- 3
- 1
Shit is about to get haywire
kinglion
Junior Member
- Jun 1, 2019
- 197
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