Posted on 03/11/2020 2:03:46 PM PDT by bananaman22
Oil prices crashed after Russia and Saudi Arabia announced that they will abandon OPEC production quotas and open the taps, and while drillers and oilfield service companies are feeling the pain, the world’s largest oil traders are eyeing huge profits. After all, volatility is a trader’s best friend.
(Excerpt) Read more at oilprice.com ...
Tis an ill wind indeed that blows no good.
Oil production throttling up as utilization dropping rapidly due to pandemic, those who guessed short on the oil markets will make a killing
This is why the price of fuel remains so high. People who do nothing but manipulate money for their own gain are financed by what we pay at the pump. These traders do no actual work and, they produce nothing.
Gasoline for us is still the same price in N.California as it was before the oil price drop.
It’s a way of piling on while the victim is down..that is all!
Oil Price has a political bias and it is not of the right.
Yes, oil traders made a killing on these wild fluctuations in the price of oil. For each oil trader that made a killing another oil trader lost his ass. Oil Price does not mention this.
Oil Price is political and not the friend of truth.
I am a trader and you are ignorant and uneducated. Please begin to realize your deficiencies.
Back during the Gas rationing in the 70’s the price of oil went up a little. But can you imagine if that happened today?
The price for a gallon of gas would be speculated to $100.00 a Gallon or more. No Thanks. Investments should be in the oil companies, and not the Oil.
Bump.
Ha! The alternative to skyrocketing prices is shortages. Traders provide hedges to people like farmers who can’t handle uncertain outcome for their crops...they provide cost certainty to airlines so they can better manage their business...etc.
The only utopia that doesn’t have traders is North Korea and USSR. You want a Bernie 5 year plan or let the free market and traders manage things?
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