[News] Oil prices

[razer]

If Covid doesn't butt f**k the world this might. Texas crude has traded today as low as minus $37 a barrel. Yes, -$37

https://www.bbc.co.uk/news/business-52350082

 

[Mr Putdown]

Caused mainly by the way oil is traded. June prices are trading at above $20 a barrel.

Apparently

[edit: we both linked to the same report. ]

 

[Butch Willykins]

It’s ok. I’m sure one of NSC’s many Virologists will also turn out to be an Oil futures trader on the side and let us know what’s going on.

 

[Guinness Boy]

Not sure this is going to butt**** the world. The reduced use of fuel belongs on the good news thread. And, since it's not the 1970s any more I think the biggest impact here is probably on the futures traders and big oil companies. My heart bleeds...….

 

[LamieRobertson]

Caused mainly by the way oil is traded. June prices are trading at above $20 a barrel.

Apparently

[edit: we both linked to the same report. ]

Yep with Brent Oil priced vastly differently to WTI....some though are sure losing a fair bit of dough

Put into perspective Shell for example ended the day down only 6% in NY

 

[Diablo]

So are we to expect to be paid to fill up our cars ? Pump prices negative

 

[Kinky Gerbil]

No idea of how this all works.

But is this likely to speed up the USA opening up.

Money men Will not be happy.

 

[vegster]

It’s ok. I’m sure one of NSC’s many Virologists will also turn out to be an Oil futures trader on the side and let us know what’s going on.

You are closer to the truth than you know, there are some genius level spread betting people, at least a couple of precious metal experts and a cluster of Bitcoin wizards. There will be one person at least who will know oil better then JR Ewing.

 

[jonny.rainbow]

You are closer to the truth than you know, there are some genius level spread betting people, at least a couple of precious metal experts and a cluster of Bitcoin wizards. There will be one person at least who will know oil better then JR Ewing.

Or just take an interest in the world they live in and dare to form an opinion?

 

[knocky1]

This mega contango is attractive for anyone looking to invest and prepared to wait 24 months for returns. Also with a bloody big can to put it in.

 

[wellquickwoody]

Good. The fossil fuel industry needs to die.

Back to the caves!

 

[Stat Brother]

Only Newcastle could be bought by a country who's economy is about to crash.









(Saudi Arabia's economy isn't going to crash)

 

[Machiavelli]

So are we to expect to be paid to fill up our cars ? Pump prices negative

No, the vast majority of what you pay at the pump comprises duty and VAT. They're not going away.

 

[Machiavelli]

Only Newcastle could be bought by a country who's economy is about to crash.









(Saudi Arabia's economy isn't going to crash)

It's the US domestic oil/fracking/tar sands industry that's most in peril and, as a consequence, Saudi and other Middle Eastern petro-states that will step into that particular void. So, in short, many on this thread are dissing their beacon, and applauding the consolidation of the biggest funders of Islamic fundamentalism.
It's a topsy turvy world out there.

 

[A1X]

Only Newcastle could be bought by a country who's economy is about to crash.









(Saudi Arabia's economy isn't going to crash)

(I agree the Saudi economy isn't going to tank but we have to get our laughs where we can right now)