razer
Well-known member
If Covid doesn't butt f**k the world this might. Texas crude has traded today as low as minus $37 a barrel. Yes, -$37 
https://www.bbc.co.uk/news/business-52350082
https://www.bbc.co.uk/news/business-52350082
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[News] Oil prices
- Thread starter razer
- Start date
Mr Putdown
Well-known member
Caused mainly by the way oil is traded. June prices are trading at above $20 a barrel.
Apparently
[edit: we both linked to the same report.
]
Apparently
[edit: we both linked to the same report.
]
Butch Willykins
Well-known member
It’s ok. I’m sure one of NSC’s many Virologists will also turn out to be an Oil futures trader on the side and let us know what’s going on.
Not sure this is going to butt**** the world. The reduced use of fuel belongs on the good news thread. And, since it's not the 1970s any more I think the biggest impact here is probably on the futures traders and big oil companies. My heart bleeds...….
LamieRobertson
Not awoke
Caused mainly by the way oil is traded. June prices are trading at above $20 a barrel.
Apparently
[edit: we both linked to the same report.
Yep with Brent Oil priced vastly differently to WTI....some though are sure losing a fair bit of dough
Put into perspective Shell for example ended the day down only 6% in NY
No idea of how this all works.
But is this likely to speed up the USA opening up.
Money men Will not be happy.
But is this likely to speed up the USA opening up.
Money men Will not be happy.
vegster
Sanity Clause
- May 5, 2008
- 27,892
You are closer to the truth than you know, there are some genius level spread betting people, at least a couple of precious metal experts and a cluster of Bitcoin wizards. There will be one person at least who will know oil better then JR Ewing.
Last edited:
jonny.rainbow
Well-known member
- Oct 29, 2005
- 6,604
Or just take an interest in the world they live in and dare to form an opinion?
Back to the caves!
Only Newcastle could be bought by a country who's economy is about to crash.
(Saudi Arabia's economy isn't going to crash)
(Saudi Arabia's economy isn't going to crash)
Machiavelli
Well-known member
So are we to expect to be paid to fill up our cars ? Pump prices negative
No, the vast majority of what you pay at the pump comprises duty and VAT. They're not going away.
Machiavelli
Well-known member
It's the US domestic oil/fracking/tar sands industry that's most in peril and, as a consequence, Saudi and other Middle Eastern petro-states that will step into that particular void. So, in short, many on this thread are dissing their beacon, and applauding the consolidation of the biggest funders of Islamic fundamentalism.
It's a topsy turvy world out there.
(I agree the Saudi economy isn't going to tank but we have to get our laughs where we can right now)