Oil prices collapse

[Sgt Beavis]

WTI Oil is now at NEGATIVE $9.89. How is that even possible?

EDIT: Now at NEGATIVE $11.42

[dblack1]

$-40

I need to build a container.

[Strychnine]

How is that even possible?

They have to pay someone to take it away because it's not exactly easy to restart production if you shutdown (but they don't expect prices to stay this low for that long - later futures contracts are still ~$20)... but they also don't have storage capacity.

[Sgt Beavis]

They have to pay someone to take it away because it's not exactly easy to restart production if you shutdown (but they don't expect prices to stay this low for that long - later futures contracts are still ~$20)... but they also don't have storage capacity.

Yea, I know the market is in a contango but seriously.. anything negative is just amazing..

[Captain Crawfish]

Eh the fed will buy it no biggie ! They got deeeep pockets virtual cash baby FTW. You are watching History unfold and We are ALL going to experience some shit in the future. It did not have to be this way

[AnthonyS]

Welcome to more proof of the fake economy. If you think people are going to give it away you have a surprise coming. Try buying silver at spot price if you think this economy is in any way real.

[Captain Crawfish]

Wait until the rate on your bank account is - by year end. That’s right your gonna get robbed for saving and not burying yourself in debt. Pure bullshit

[TX_92_Notch]

Wait until the rate on your bank account is - by year end. That’s right your gonna get robbed for saving and not burying yourself in debt. Pure bullshit

It may as well be negative now. Bank account rates have been a joke for a long time. And no, I'm not trying to get rich off of Bank of America.

[Captain Crawfish]

Point is your capital in a bank should yield something! This is like the perfect storm I’m afraid. Hopefully I am wrong I don’t want to be right

[BP]

It may as well be negative now. Bank account rates have been a joke for a long time. And no, I'm not trying to get rich off of Bank of America.

I'm getting 4% from my T-mobile money account, only the first $3k though.

[Trip McNeely]

Silver lining for my industry, no filling lines and glutting up their by-product of NatGas. Our stock went way up.

[svauto-erotic855]

Welcome to more proof of the fake economy. If you think people are going to give it away you have a surprise coming. Try buying silver at spot price if you think this economy is in any way real.

Just tried. There is none to be had; anywhere and I mean anywhere.

And once again; there is absolutely no such thing as a false economy. That's like saying there's false daylight when the sun is up.

[Sgt Beavis]

It took some digging but I found the Strategic Petrolium Reserve has about 77million barrels of capacity.

Since they don't have to pay for it, the Feds should take as much as they can.

[sc281]

It took some digging but I found the Strategic Petrolium Reserve has about 77million barrels of capacity.

Since they don't have to pay for it, the Feds should take as much as they can.

I think Trump was trying to do just that about a month ago, but democrats didn't fund it.

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/08984DE6-8343-11EA-BD88-03BB51EFA6E1

Trump said he’d like Congress to approve any action. Last month, Congress left plans to buy oil for the SPR out of the $2 trillion stimulus package.

[Captain Crawfish]

Just tried. There is none to be had; anywhere and I mean anywhere.

And once again; there is absolutely no such thing as a false economy. That's like saying there's false daylight when the sun is up.

It’s been a fake shit show for years. A massive bubble created off low rates and monetary methadone injections. Now everybody is leveraged up and all the sudden here comes corona Rona to crash the party. The fed has a 10 alarm fire going and they have a water hose to put it out. Now let’s throw trillions at it cause massive inflation and fuck the people. Sound fun? Not to me