How Crazy is Crude at -$40 per barrel.

[moog5050]

Unbelievable.  No one wants oil as no one is using it in the short term.  Probably some real solid long term investment there.

[Robhuntandfish]

i started a thread about it this morn when it was $11 but this is crazy.  An oil collapse def isnt good for the economy. https://www.foxbusiness.com/markets/us-stocks-april-20-2020

[grampy]

Right now the cost to refine the oil, is more than the cost of the oil itself.

Don't see how it could go much lower. And it WILL go up again. So I'd say a definite investment opportunity, at this time.

[BizCT]

38 minutes ago, moog5050 said:

Unbelievable.  No one wants oil as no one is using it in the short term.  Probably some real solid long term investment there.

Nearly every house by me is heated by oil. You pay $300-400 per year for a "contract" and then $2-4+ per gallon. 900 gallons is an average winter for a 2K sqft house. It's always a guessing game when to lock in for 1-2 years. People who locked in for over $4/gallon are probably so pissed right now. The difference is thousands of dollars per year now.

Edited April 20, 2020 by Biz-R-OWorld

[BizCT]

How will this help airlines? if i'm an airline i lock in at low prices 

[The_Real_TCIII]

1 minute ago, Biz-R-OWorld said:

How will this help airlines? if i'm an airline i lock in at low prices 

Or an uber driver. I hadnt thought about them actually are they dunzo or what?? Getting the CARES money as independent contractors?

[BizCT]

Just now, The_Real_TCIII said:

Or an uber driver. I hadnt thought about them actually are they dunzo or what?? Getting the CARES money as independent contractors?

They gotta be doing well in NYC still? I bet people are paying to ride uber over the subway.

[Elmo]

9 minutes ago, Biz-R-OWorld said:

They gotta be doing well in NYC still? I bet people are paying to ride uber over the subway.

My BIL takes uber to and from work everyday as an essential employee.  Companies dime.  Does online pharm.  I guess during an pandemic people still need to maintain an erection is considered essential.

[squirrelwhisperer]

16 minutes ago, Elmo said:

My BIL takes uber to and from work everyday as an essential employee.  Companies dime.  Does online pharm.  I guess during an pandemic people still need to maintain an erection is considered essential.

It def helps pass the time