$1.7 USD for barrel?
 

WTF with WTI? :upsidedow

One liter is cheaper than one ruble. It's time to buy!

Or you could simply use a bike :D

Prices are dropping as demand decreases. Apparenty Western Canadian Select crude was selling for -$0.01 per barrel. Yes, they are paying you to take it away...

https://pbs.twimg.com/media/EWBTLwUU...jpg&name=small

Here's to clear skies . . .

The raw oil was at minus $10 today in the US when I checked, dont know if its still there

Yeah, well, it is the price for delivery in May, that price went down to zero today.

It is because there are no more capacity in the terminals and storage units, so no more oil can be put away there in May/June. This means that if you sit on such a contract by closing hour today, you will need to find a place to store the oil. Since no storage units are available, it will have to be on oil tankers, which is increadibly expensive to use as storage.

Those contracts terminate today, in few hours. Right now they look to be a lost case and with storage costs and an uncertain future and possibility to sell this oil futher on, this is why those contracts are given away at the moment. It is all about closing positions now.

amazing
and oil stocks holding strong :upsidedow

Gas stations will pay us to fill up our cars soon :)

wait it will be cheaper

West Texas Intermediate (WTI) -$37.63...

So they pay you $37 - I wonder how many I can fit in the carport? - I take it they deliver?....

It’s not like you can take one or two barrels...

The actual negative rate in WTI crude futures for May (which close trading next Tuesday) is due to Contango (a specific futures contract phenomenom which I will not get into here).

The thing is that storages are all full and there is a demand shock, so no one was buying anymore to get oil delivered to their location.

It is indeed the first time this has ever happened, but actual WTI spot price today was around $18, not -$37

Stay toasty :winkwink:

how can I buy? post link here please

I was joking - Although given that they are paying you to take it away and how much fuel you would use getting it from Texas to New Zealand it might actually pay off! - Not very green though - lol...

Go to the nearest gas station . . . just dont sniff it, nikki.

I have neighbour homeless guy who sniff gas.... crazy shit, he look worse than crack users

It can get pretty addictive . . .


https://media.giphy.com/media/W79wfYWCTWidO/giphy.gif

yeah may prices/deliveries are fucked but the june price is still at around $22 and december is at around $33 so it is not as bad as it seems long term..... unless demand stays at an all time low which could fuck more months up pretty bad... I hope it keeps falling I want the gas pump to pay me to fill my vehicles up :1orglaugh:1orglaugh:1orglaugh

Nobody knows how long the coronacrisis will last. The people don't drive their cars and they don't buy gas. The manufactures stuck. But the oil is being pumped out in a non-stop mode. So, lets wait for a couple months more...

whoever doubts that the countries' REACTION to corona is worse than the virus itself, its a fucking idiot.

I dont believe that such gigantic conspiracy with so many sides and people is possible to maintain, but looking at all this...its all fishy as fuck.

Just compare these mortality rates:

https://static-40.sinclairstoryline....?1584394556843

And we had no quarantine when there was a pandemic of much more deadly corona viruses in 2004 and 2012. There was no panic, no police on the streets, no passes? checkpoints etc. Hmm...

No demand for fuel right now. Planes, ships, cars, manufacturing plants that uses fuel are on halt.

Seriously, I would be really concerned if the mortality of this one would 3,8 % like you posted.
Luckily, its around 10-12 times lower in population below 65 and without ongoing health issues.
90-95 % of victims of this pathogen are really old people and/or people with ongoing health problems: diabetes, health problems, hypertension, obesity, heavy smokers and so on.
Also, not everyone that had it even knew of goes to doctor...

So why gas is it still 1 Euro/ liter here in Prague :2 cents::error

The barrel costs more than the oil inside it :pimp