tarman5490
Junior Member
- Nov 5, 2014
- 198
- 56
the OP is talking about futures. for wti may contracts its in the minus
US Oil Prices @ Negative... WTF!?!?
- Thread starter Fuazii
- Start date
the OP is talking about futures. for wti may contracts its in the minus
- They have been pumping out too much while trying to get the Saudis to cut output
- They have been at a net loss for long in that they have run up huge amounts of debt
I read a good (long) article on it yesterday: HERE
TLDR
Long in the making...
55trillion
Power Member
- Sep 27, 2015
- 704
- 185
May future contract is running at 10$ so its a short term crisis. People interested can go long on future contracts are Call options, its a jackpot.
JackTheBlack
Regular Member
- Nov 14, 2018
- 351
- 76
Insane. This is complete madness....
JeanFerreira
Regular Member
- Dec 19, 2014
- 297
- 112
The Great Equalizer Effect.
BlueBuzzy
Senior Member
- Jun 7, 2018
- 898
- 299
As someone who lives in a city that's largely dependent on oil revenue (crude oil in particular), it's insane - downtown has 20+ skyscrapers and 100s of smaller office buildings essentially shut down for good. While I hope we'll finally start diversifying our economy (which should've been done decades ago), I expect some dark times ahead...
Sephrata
Elite Member
- Mar 25, 2017
- 2,722
- 4,086
You can't, unless you have booked storage capacity in Cushing, Oklahoma.
The whole issue is that there is no booked storage capacity and holders of the May WTI contract for physical delivery (without booked storage capacity) are unable to roll their positions into the next contract month of June.
Most people trading futures contracts with physical delivery never actually take physical delivery. They either close their positions (net them off) or they roll them into the next calendar month's contract.
It would appear that traders have either waited too late to roll their positions, or they have tried to buy storage capacity and realised there is none available.
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MichaelReyeeees
Junior Member
- Nov 28, 2018
- 101
- 25
Would anyone consider this a "blood is running down the streets" kind of moment? Lots of investors say that these are the moments one should invest
LegendAndroidX
Power Member
- Nov 1, 2017
- 699
- 612
i've just invested 500$ in etoro for this . " just playing tho "
JeanFerreira
Regular Member
- Dec 19, 2014
- 297
- 112
Well it's a game if go up again you gonna make a lot of money
Wilcoo1
Regular Member
- Oct 21, 2019
- 317
- 381
The only good idea you should consider is to stop trading CDF’s.
rasbsal
Regular Member
- Mar 27, 2019
- 409
- 177
hahaha gotcha
- Nov 8, 2009
- 8,887
- 9,192
It's been weeks, maybe months since I've learned so much from a BHW post.
So is there a lag time for the prices to affect gasoline prices? I have a 10,000 gallon underground tank I wouldn't mind filling on the cheap lol