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The Swamp

  • #60,261
  • Apr 20, 2020 11:15am Apr 20, 2020 11:15am
may contract is negative.

june getting attacked !! -16%
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,262
  • Apr 20, 2020 11:17am Apr 20, 2020 11:17am
price is negative 7$ per barrel
those who can, do. those who cant, talk about those who can
  • #60,263
  • Apr 20, 2020 11:18am Apr 20, 2020 11:18am
Quoting DMA Trader
{quote} why not take a physical delivery . 1 contract is a lot of barrels. just speculators on markets.
it takes time to arrange for physical delivery...when the front futures price is going to $0 , as there is just a day or so left on the contract, the logistics of making actual delivery happen in that short amount of time means contract holders are shit outta luck.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #60,264
  • Apr 20, 2020 11:21am Apr 20, 2020 11:21am
Quoting gatorinla
price is negative 7$ per barrel
where are you seeing this? my chart stopped updating at 0.01 lol
  • #60,265
  • Apr 20, 2020 11:21am Apr 20, 2020 11:21am
Quoting The Fool
{quote} it takes time to arrange for physical delivery...when the front futures price is going to $0 , as there is just a day or so left on the contract, the logistics of making actual delivery happen in that short amount of time means contract holders are shit outta luck.
i understand but that's a lot of oil . to sell for 0.01 and now negative.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,266
  • Apr 20, 2020 11:22am Apr 20, 2020 11:22am
wow lol -9 !!!!
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,267
  • Apr 20, 2020 11:22am Apr 20, 2020 11:22am
Quoting DMA Trader
{quote} i understand but that's a lot of oil . to sell for 0.01 and now negative.
its not selling.. no or few buyers/
those who can, do. those who cant, talk about those who can
  • #60,268
  • Apr 20, 2020 11:23am Apr 20, 2020 11:23am
so now you pay for tanker and driver ? 10k ? lol
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,269
  • Apr 20, 2020 11:24am Apr 20, 2020 11:24am
it is now -$11.50
  • #60,270
  • Apr 20, 2020 11:24am Apr 20, 2020 11:24am
WTI - 11,42 !!!

now we seen everything from 2001 until now. anything left ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,271
  • Apr 20, 2020 11:25am Apr 20, 2020 11:25am
-$15
  • #60,272
  • Apr 20, 2020 11:27am Apr 20, 2020 11:27am
-$28
  • #60,273
  • Apr 20, 2020 11:28am Apr 20, 2020 11:28am
Breaking

FED to buy oil futures.

joking
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,274
  • Apr 20, 2020 11:29am Apr 20, 2020 11:29am
Quoting DasPips
{quote} where are you seeing this? my chart stopped updating at 0.01 lol
u need a May ticker.. put on bloomberg or cnbc
those who can, do. those who cant, talk about those who can
  • #60,275
  • Apr 20, 2020 11:29am Apr 20, 2020 11:29am
-$40
  • #60,276
  • Apr 20, 2020 11:32am Apr 20, 2020 11:32am
problem is for now spreads will be like this for the next months's

where you get this demand and you need it fast
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,277
  • Apr 20, 2020 11:33am Apr 20, 2020 11:33am
Quoting Jinex
-$40
wow.. that will bankrupt some producers. Closing some wells may cost millions.. pumping at negative 40$ may cost millions. closed -35.47 p barrel. X 1000 per contract.
those who can, do. those who cant, talk about those who can
  • #60,278
  • Apr 20, 2020 11:38am Apr 20, 2020 11:38am
Quoting DMA Trader
wow lol -9 !!!!
buyers don't want it....you have to pay to get rid of it today. The market for the front contract is dead.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #60,279
  • Apr 20, 2020 11:42am Apr 20, 2020 11:42am
Quoting The Fool
{quote} buyers don't want it....you have to pay to get rid of it today. The market for the front contract is dead.
it stupid. it doesn't cost you 50k to store some barrels. i will look into it.
even with transport and everything.

i am afraid that same thing happens next month until demands come back

you tell me that a country cannot buy some futs contract where they pay you 40k lol
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,280
  • Apr 20, 2020 11:43am Apr 20, 2020 11:43am
Quoting gatorinla
{quote} I dont think estimates reported. Are no better than you are me pulling a number out our ass. What I can see out my window and when I get on the interstate is less traffic. I dont have a scientific study to say u.s. traffic is down 10% or 50%. I do know, its lower. If I had to guess it's less than 50% lower. So let me pull a number out my ass and say its 25%. Since California, New York streets are looking empty. The U.S. uses about 20 million bpd normally. A 25% reduction is 5 million bpd. Just from the u.s. alone.
Quoting gatorinla
{quote} The u.s. usages about 20% of the 100 billon bpd the world uses. Carrying that forward its about 25 million bpd less used. Some say that usage is lower than 75%. There is no way to know other than a guess. Looking at that nitric oxide chart days ago. The entire world was well under normal pollution. I think oil use is less than the 75%, but its not provable. At 25 million bpd. Its cutting out more than the use of the entire U.S... -1.25 X U.S. usage. At 50% its -2.5X U.S.
Quoting gatorinla
{quote}I doubt there is much free storage anywhere now. In 2008 ships were moored in the ocean around Singapore etc. I suspect someone with use of a good satellite could find the same in thousands of ships anchored, going nowhere. The price (demand) for tankers went up when people were looking for storage. That was months ago.
A con man killed people with corona,,, now he killed the oilmen. Everything he touches turns to shit.
those who can, do. those who cant, talk about those who can
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