May contracts are trading at -14$ a barrel

I think I've seen it all now

It makes sense if it's cheaper to pay someone to take it off your hands than shutting down your rig, but damn I never thought I'd see this.
- RickJames77

Saudi and Russia cold war making poop go real poor right before everybody stopped using fuel. Not a good time.

May contracts are trading at -14$ a barrel

I think I've seen it all now

It makes sense if it's cheaper to pay someone to take it off your hands than shutting down your rig, but damn I never thought I'd see this.
- RickJames77

closed at -35$

holy (frank)

Saudi and Russia cold war making poop go real poor right before everybody stopped using fuel. Not a good time.
- AdamFrench

OPEC + didn't really work out now did it. There's no where to store the poop anymore.

closed at -35$

holy (frank)
- RickJames77

got family trying to move out of Northern Alberta right now just because of all this poop.

OPEC + didn't really work out now did it. There's no where to store the poop anymore.
- RickJames77

The Petrol Dollar

OPEC + didn't really work out now did it. There's no where to store the poop anymore.
- RickJames77

Gonna be interesting to see how our economy rearranges itself after all this craziness is said and done

It's more upsetting that someone that has a serious mental health issue can get rapid fire guns. Curious to what checks were done, and why a dental technician would need to own a rapid fire gun.
- winsix

What do you mean rapid fire? Semi auto?

got family trying to move out of Northern Alberta right now just because of all this poop.
- BINGO!

Also, each contract represents 1,000 barrels, so each contract is -35K right now. This is (frank)ed. No one wants to take delivery on these. The amount of tankers that are just going to anchor will be nuts.

May contracts are trading at -14$ a barrel

I think I've seen it all now

It makes sense if it's cheaper to pay someone to take it off your hands than shutting down your rig, but damn I never thought I'd see this.
- RickJames77

World storage is only 1.2 billion barrels - with pandemic they are running out of storage for oil.
https://oilprice.com/Ener...s-Out-Of-Oil-Storage.html

What do you mean rapid fire? Semi auto?
- bobbyisno1

Not sure they have not specified the exact weapon(s) used. Even semi-auto - do you need that to hunt?

World storage is only 1.2 billion barrels - with pandemic they are running out of storage for oil.
https://oilprice.com/Ener...s-Out-Of-Oil-Storage.html
- winsix

Yes, I understand, I've made that point too. But something this historic means that the price is being attacked from multiple angles. Oversupply, lack of storage, shut down costs, etc.

Yes, I understand, I've made that point too. But something this historic means that the price is being attacked from multiple angles. Oversupply, lack of storage, shut down costs, etc.
- RickJames77

beyond just the russia-opec spitroast?

Not sure they have not specified the exact weapon(s) used. Even semi-auto - do you need that to hunt?
- winsix

Some people do, I use a bolt action, it's more accurate.

Yes, I understand, I've made that point too. But something this historic means that the price is being attacked from multiple angles.
- RickJames77

Good time to force producers to pull even a drop out of the ground, use up all the reserves until it is safe to produce again. Hard to feel sorry for producers, have been gouging the public for about 50 years now

Good time to force producers to pull even a drop out of the ground, use up all the reserves until it is safe to produce again. Hard to feel sorry for producers, have been gouging the public for about 50 years now
- winsix

I'd be concerned with what's going to happen environmentally. You think all of this glut will be disposed of as appropriately as it can when people just decide not to take or make deliveries?

I'll bet all my May Oil (WTI) Future contracts that the NHL starts up tomorrow. Come on, take that action. You won't, you won't
- RickJames77

Happy Patriots Day, RJ.

Do you have the day off, or are you forced to hang around in your kitchen, doing nothing (a.k.a., working)?

Some people do, I use a bolt action, it's more accurate.
- bobbyisno1

It makes it easier - I understand that, but it isn't necessary, and letting a lunatic have one is bad news.

Also, each contract represents 1,000 barrels, so each contract is -35K right now. This is (frank)ed. No one wants to take delivery on these. The amount of tankers that are just going to anchor will be nuts.
- RickJames77

They are being used as storage. Running out of places to put it...

Happy Patriots Day, RJ.

Do you have the day off, or are you forced to hang around in your kitchen, doing nothing (a.k.a., working)?
- Atomic Wedgie

Right on Wedge!

I had to put on my big boy sweat pants today

OPEC + didn't really work out now did it. There's no where to store the poop anymore.
- RickJames77

Just pour it into the Gulf of Mexico.

Just pour it into the Gulf of Mexico.
- Atomic Wedgie

I beat you to this above

Right on Wedge!

I had to put on my big boy sweat pants today
- RickJames77

I thought this was classy:

https://twitter.com/bosto...tatus/1252192148654604288

Yes, I understand, I've made that point too. But something this historic means that the price is being attacked from multiple angles. Oversupply, lack of storage, shut down costs, etc.
- RickJames77

I blame it all on Big Windmill. Cancer causing bastards.

If you want to see some hamsters fighting check out Tanner's thread. Not you Wedgie, of course.
- Zezel

I'm really wondering when Tanner gets tired of his own clown act.

The thread isn't even fun anymore - it's just really angry idiots attacking him.

I'd be concerned with what's going to happen environmentally. You think all of this glut will be disposed of as appropriately as it can when people just decide not to take or make deliveries?
- RickJames77

Agree completely, but Mexico and others have to stop pulling oil out of the ground completely. This oil needs to be delivered to areas and industries still using. I read that in Florida farmers are basically abandoning crops because of the lack of demand from Hotels and restaurants. Meanwhile there are mile long lineups at food banks. Need some military coordination of this sh!t.