OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[Bert.]

I thought they signed a deal with Russia and Iraq or some ****? what's going on>

enlighten someone who doesn't know what's going on

 

[rrlegend]

 

[hipstermike]

So if you can legit store barrels they will pay you to take it?

 

[rrlegend]

I thought they signed a deal with Russia and Iraq or some ****? what's going on>

enlighten someone who doesn't know what's going on

too little to late . Saudi and Russia started a price war with covid going on . Everybody ramped up production when demand began to shrink . OPEC and others came to an agreement but nothing will happen before May 1st . While everybody was waiting for everything to sort out storages filled up to capacity . So that’s why we have these prices today . This day will go down in history .

 

[rrlegend]

So if you can legit store barrels they will pay you to take it?

No just places are refusing to take anymore in so it is equal to waste now .

 

[shibadekobe]

-22.78...This is bleeding into JUN & JUL Contracts

 

[shibadekobe]

I can tell you're in Oil Industry....

*FoxBiz & Chic Fil A

 

[Majorbread]

never thought i'd ever see oil down literally over 100%

sounds like some **** an altcoin / ****coin would do

 

[rrlegend]

I can tell you're in Oil Industry....

*FoxBiz & Chic Fil A

already know lol.

 

[tkthafm]

What a time to be alive

 

[wballz]

-7$???

Countries should be buying oil right now to make money (and for their reserves).

 

[shibadekobe]

-7$???

Countries should be buying oil right now to make money (and for their reserves).

-$40.00

CLOSED -$37.63 @CL.1 May

 

[wballz]

-$40.00

I have delayed quotes. LOLOLOL.

 

[ShoeGod1423]

Yesterday at 18.27

Today its at -37.63 that's CRAZY!

 

[shibadekobe]

 

[rrlegend]

One of my coworkers just fainted

 

[miniojw]

4/20 is no longer about weed. It's now about oil going negative. MADNESS.

 

[johnnyredstorm]

Monster buyers in PINS $18.50 calls expiring Friday. This options market is normally dead. Grabbing a call here just in case they announce something after hours.

 

[atlsfinest]

So if you can legit store barrels they will pay you to take it?

No, that's not how it works. When the price of crude oil goes negative, it means that The cost of production and housing of oil costs more than the value of the oil. Production and material costs are factored into the per barrel price of crude oil. Currently, the literal barrels of oil are stored in are worth more than the oil inside. Crazy stuff

 

[HNL HI]

 

[Betonblck]

The Fed needs to buy oil now.

 

[drunken cow]

Monster buyers in PINS $18.50 calls expiring Friday. This options market is normally dead. Grabbing a call here just in case they announce something after hours.

PINS, like pintrest??

NVM - Figured it out.

 

[southernhospita]

Monster buyers in PINS $18.50 calls expiring Friday. This options market is normally dead. Grabbing a call here just in case they announce something after hours.

I had calls for 17.5 earlier on ameritrade sold to early but made money

 

[johnnyredstorm]

I had calls for 17.5 earlier on ameritrade sold to early but made money

Green is green

 

[tkthafm]

Shorts are starting to print money now.

The impact of the oil implosion is going to be massive. All the firms that were long, all the bankruptcies that will soon come, the banks that loaned them the money, all the small businesses that depend on money from oil workers, tankers. these are just primary effects. Then there's much more down stream.