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  • Oil is getting crushed again with one futures contract down 90% to record low under $2

    From cnbc.com

    U.S. crude prices plunged to their lowest level in history as traders continue to fret over a slump in demand due to the coronavirus pandemic. The price of the nearest oil futures contract, which expires Tuesday, was the hardest hit, detaching from later month futures contracts with a drop of more than 90%. This suggests that some believe there could be a recovery later in the year. West Texas Intermediate crude for May delivery tanked 92%, or $16.76, to $1.38 per barrel, its lowest level on record. Meanwhile international benchmark, Brent crude, which has already rolled to the June contract, traded 6.2% lower at ... (full story)

  • #1
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  • Apr 20, 2020 1:47pm Apr 20, 2020 1:47pm
money on the floor
The grind never stops
  • #2
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  • Apr 20, 2020 1:49pm Apr 20, 2020 1:49pm
This is a robbery. Must be investigated very deep by US government.
  • #3
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  • Apr 20, 2020 1:51pm Apr 20, 2020 1:51pm
now is the time togo long . i wonder all this news about over supply now . the damage is already priced .
When this shit news comes up , means oil will go up. us Shale are cutting production unwillingly . this storage thing will be resolved in 2 3 days when countries opens up , Germany isopeing this week ,China back to business and usa will join in 2 weeks max , Those democrats will be shot in the streets if the say one more word . so ???
  • #4
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  • Apr 20, 2020 1:58pm Apr 20, 2020 1:58pm
Quoting Ghass1234
now is the time togo long . i wonder all this news about over supply now . the damage is already priced . When this shit news comes up , means oil will go up. us Shale are cutting production unwillingly . this storage thing will be resolved in 2 3 days when countries opens up , Germany isopeing this week ,China back to business and usa will join in 2 weeks max , Those democrats will be shot in the streets if the say one more word . so ???
good luck with that, I hope you aren't using a lot of margin
  • #5
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  • Apr 20, 2020 2:00pm Apr 20, 2020 2:00pm
There is no place to store crude oil at the moment.
  • #6
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  • Apr 20, 2020 2:02pm Apr 20, 2020 2:02pm
Quoting Laditori
There is no place to store crude oil at the moment.
Maybe keep an eye on shipping stocks as countries will be buying and filling supertankers
  • #7
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  • Apr 20, 2020 2:04pm Apr 20, 2020 2:04pm
Quoting Ghass1234
now is the time togo long . i wonder all this news about over supply now . the damage is already priced . When this shit news comes up , means oil will go up. us Shale are cutting production unwillingly . this storage thing will be resolved in 2 3 days when countries opens up , Germany isopeing this week ,China back to business and usa will join in 2 weeks max , Those democrats will be shot in the streets if the say one more word . so ???
You cant even comment on WTI hitting 1.28 a barrel.. without politicising it into comment on the "Democrats" and your gun-toting culture. There a big ******* world out there beyond your narrow obsession with guns and domestic US party politics. ..
and the vast majority of members and readers of these threads live in that bigger world.
Give it a rest man.
Warning: A Dangerous Subversive: 1% of comments CoCed
  • #8
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  • Apr 20, 2020 2:09pm Apr 20, 2020 2:09pm
Quoting atillaken
This is a robbery. Must be investigated very deep by US government.
I don't trade oil much but I am watching and learning. Why do you say it needs to be investigated and what would that do? Thanks
  • #9
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  • Apr 20, 2020 2:13pm Apr 20, 2020 2:13pm
What is your recommendation guys? How should I invest in oil?
  • #10
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  • Apr 20, 2020 2:22pm Apr 20, 2020 2:22pm
Quoting JuanTelo
What is your recommendation guys? How should I invest in oil?
Fill up your gas tank.
  • #11
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  • Apr 20, 2020 2:24pm Apr 20, 2020 2:24pm
Quoting JuanTelo
What is your recommendation guys? How should I invest in oil?
don't touch it now unless you know what you are doing.
  • #12
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  • Apr 20, 2020 2:36pm Apr 20, 2020 2:36pm
I jack-up the guy at the gas station. I stole gas and he paid me! f*ck!!!!

Now the cops caught me. They paid me for stealing gas. The clerc got arrested for running after me since I stole worth of -200$ of gas.

I'm un-jailed but almost free.


I want to un-die ... and un-reborn.

I want to un-drunk my whiskey bottle which I have to now wash with vodka to un-disinfect it.
Invest in alarm clocks
  • #13
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  • Apr 20, 2020 2:38pm Apr 20, 2020 2:38pm
Quoting harcos
{quote} I don't trade oil much but I am watching and learning. Why do you say it needs to be investigated and what would that do? Thanks
Seriously I dont think now is the time to learn to trade Oil. Imagine being caught long. I would stay away and use some time watching until it calms down.
  • #14
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  • Apr 20, 2020 2:42pm Apr 20, 2020 2:42pm
[quote=Tony112;12888313]I jack-up the guy at the gas station. I stole gas and he paid me! f*ck!!!!funniest thing I have read in a while
  • #15
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  • Apr 20, 2020 2:46pm Apr 20, 2020 2:46pm
[quote=Capelli;12888330]
Quoting Tony112
I jack-up the guy at the gas station. I stole gas and he paid me! f*ck!!!!funniest thing I have read in a while
My friend, you were supposed to cry but you're allowed to laugh! The world is upside down!!!!!
Invest in alarm clocks
  • #16
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  • Apr 20, 2020 2:47pm Apr 20, 2020 2:47pm
I hope the people that lost money are cheering. The world is upside down now:

win: cry
lose: celebrate
Invest in alarm clocks
  • #17
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  • Apr 20, 2020 3:10pm Apr 20, 2020 3:10pm
time to buy a bit.
  • #18
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  • Apr 20, 2020 3:24pm Apr 20, 2020 3:24pm
It hit that low but we can not buy it in the forex. What i see is 20 USD WTI june 20 .
  • #19
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  • Apr 20, 2020 3:35pm Apr 20, 2020 3:35pm
Quoting serdartemim
It hit that low but we can not buy it in the forex. What i see is 20 USD WTI june 20 .
Yes the May contracts are not trading anymore at my broker.
  • #20
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  • Apr 20, 2020 4:05pm Apr 20, 2020 4:05pm
https://www.zerohedge.com/commoditie...osses-secretly

https://www.bnnbloomberg.ca/hin-leon...sses-1.1423657
  • #21
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  • Apr 20, 2020 4:09pm Apr 20, 2020 4:09pm
Loool..how STUPID media is and people with too! They created propaganda from nothing!!
That contract not available to trade, and expired tonight. The lowest Oil reached to trade is 11$.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #22
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  • Apr 20, 2020 4:31pm Apr 20, 2020 4:31pm
Quoting Ghass1234
now is the time togo long . i wonder all this news about over supply now . the damage is already priced . When this shit news comes up , means oil will go up. us Shale are cutting production unwillingly . this storage thing will be resolved in 2 3 days when countries opens up , Germany isopeing this week ,China back to business and usa will join in 2 weeks max , Those democrats will be shot in the streets if the say one more word . so ???
You have absolutely no idea what you are talking about.
  • #23
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  • Apr 20, 2020 4:31pm Apr 20, 2020 4:31pm
market adjustment begins, we will see a lot of volatility in these weeks
Confucius: the man who broke the mountain was the same man who started ...
  • #24
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  • Apr 21, 2020 10:33am Apr 21, 2020 10:33am
Was anyone even able to trade the front-end May contract to begin with yesterday? My broker mandates liquidation of positions for commodities with physical delivery about a week or so before actual expiry, unless there is some arrangement that can be proven that delivery will be made/accepted.
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  • Posted: Apr 20, 2020 1:47pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 24  /  Views: 12,015