CORONOVIRUS CAUSES LOW OIL PRICES!"
Posted on 02/28/2020 9:27:34 AM PST by bananaman22
Oil prices sank for a sixth consecutive day early on Friday and were on track for their biggest weekly drop in more than four years as the coronavirus outbreak continues to roil global equity and oil markets.
At 10:53 a.m. EST on Friday, WTI Crude was plunging by 5.92 percent at $44.30, and Brent Crude was down 4.58 percent at $49.36, after falling briefly below $50 earlier today.
The sell-off on the oil market has continued for more than a week as the coronavirus spread quickly outside China—to Europe, the Middle East, and as of recently—Africa.
(Excerpt) Read more at oilprice.com ...
Really?
Well, gosh dang it!
I just noticed my local station went down from $2.15 to $2.10 a gallon today. Best price within 25 miles according to gas buddy.
So I took my 10 five gallon cans for spring yard work and my pick up truck and filled them all.
And next week what will the price be!?
I hope this doesn’t mean my next gas fillup will be cheaper. I allot so much for gasoline and this completely messes up my book work if I have money left over.
Am I doing this right?
CORONOVIRUS CAUSES LOW OIL PRICES!"
It does not matter what one thinks of the risk of the virus.
The disruptions are real.
And it appears they will continue for awhile.
Gasoline prices still lat nearly $3.00 p/gallon
Am I doing this right?
A+
But the bonus would have been awarded if you lamented the impact on poor arab countries, which will obviously be hit hardest by Trump’s racist and islamophobic incompetence.
[[I just noticed my local station went down from $2.15 to $2.10 a gallon today.]]
We are .70 cents a gallon more- so for every 10 gallons we get, we pay $7 more than you do every 100 gallons, $70 more-
Yay us!
Who the hell doesn’t love that?
And yet, just watch. Gas prices will magically go up and the media / wall street bunch will make some excuse for it.
A question, you posted this and what is your position on this situation?
I see this on FR and wonder what is the point
Mild winter here in the north east, my heating bill is about 33% less then last year
Natural gas might tank as well
When oil goes down, it’s not the “worst” plunge, it’s the “best” plunge.
If the price at the pump goes down, instead of up as it always does late-April to June, they will not credit Trump for it.
1.999 to 2.029 in Tulsa
DANG! that is .85 cents less- for the same durned product too-
Russia’s only source of income, very good news for Americans there and at the pump.
Pardon me for reading “worst” as “best”.
On the other hand, I am a mere consumer of oil products and have no shareholder status.
Therefore, my reading can be ignored.
Yup. China’s demand for fuel has dropped significantly. It’s one of the indirect ways that we can tell that they are having a serious problem with this virus.
The disruption will begin showing up over here as empty store shelves.
Biggest worry could be that we are reliant on China for 80% of our medicines. A stupid box to have put ourselves in.
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