How is this even possible? Thanks Libs, I guess when nobody can go anywhere, there’s no demand for oil.
Aw come on. Gotta be something wrong with this.
What, they pay YOU to take the oil?
Thank God for gas guzzling protesters
Storage and other costs...you’re right. when nobody wants something the price can get ugly, especially when it’s something that has an expiration date, like 3 days ago and settlement today, I THINK
good news is month out lost 20ish percent, which is bad but if everyone thought this was going to happen for a while the outside months would have collapsed too.
If that happens...a lot of oil companies are in a lot of trouble I guess.
Electric vehicles and solar? /s
Novel coronavirus
Negative price
Wordsmiths are busy tonight and full of crap.
You can’t sell something at a negative price. You can give it away and take a paper loss.
Novel coronavirus. I see that this is the term for most Wash. Post leftist writers and even a few conservatives use it.
Why is it called “novel coronavirus”? “Novel” means either “unique” or “new” but every “virus” in the past 20 years has been new and novel, even if it is a derivative of a prior one.
I have a “novel” idea. Tell these writers to quit trying to sound “educated, suave, cosmopolitan”. They aren’t. They are dime a dozen writers and with unemployment rising in the journalism field, they can be replaced in a heartbeat and nobody will ever miss them.
So does this mean, if you go long on Crude futures, you get paid money up front?