1. 04-20-20 01:37 PM #1
    Tanko
    Slow roll
    Tanko's Avatar SBR PRO
    Join Date: 09-19-09
    Posts: 5,084
    Betpoints: 24774

    Oil Prices Just Dropped to 1c/bbl and poss into Negative Territory

    Oil started the day in the teens and dropped to zero.

    https://www.nbcnews.com/business/markets/oil-prices-tumble-lowest-level-1980s-n1187716
    Reply With Quote Reply With Quote
  2. 04-20-20 01:41 PM #2
    Tanko
    Slow roll
    Tanko's Avatar SBR PRO
    Join Date: 09-19-09
    Posts: 5,084
    Betpoints: 24774

    Oil historical prices... over 70 years

    Reply With Quote Reply With Quote
  3. 04-20-20 01:46 PM #3
    Tanko
    Slow roll
    Tanko's Avatar SBR PRO
    Join Date: 09-19-09
    Posts: 5,084
    Betpoints: 24774

    It just hit -$35/bbl. They will pay you $35 to take bbl of oil off their hands.

    Anyone have an empty storage tank?
    Reply With Quote Reply With Quote
  4. 04-20-20 01:48 PM #4
    RudyRuetigger
    Leave of absence until March Madness
    RudyRuetigger's Avatar Become A Pro!
    Join Date: 08-24-10
    Posts: 64,799
    Betpoints: 53

    yea i have a few

    how do i get it without being taxed out the ass
    Reply With Quote Reply With Quote
  5. 04-20-20 01:57 PM #5
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    If you have an oil tank 275 gallons it’s not free believe me it cost about $400 to fill
    Reply With Quote Reply With Quote
  6. 04-20-20 02:05 PM #6
    Tanko
    Slow roll
    Tanko's Avatar SBR PRO
    Join Date: 09-19-09
    Posts: 5,084
    Betpoints: 24774

    Quote Originally Posted by jjgold View Post
    If you have an oil tank 275 gallons it’s not free believe me it cost about $400 to fill
    Of course JJ.
    This is "well-head" pricing so you have to:
    1. Pay to transport
    2. Pay to store/handle it


    But, if you were an oil trader w/ any kind of storage space, you'd be salivating at these prices. Its like printing money. Negative prices are an anomaly that won't last long.


    Obviously, this has never happened before so its crazy....
    Reply With Quote Reply With Quote
  7. 04-20-20 02:05 PM #7
    SBR_Guest_Pro
    SBR Intern
    SBR_Guest_Pro's Avatar Become A Pro!
    Join Date: 02-10-15
    Posts: 3,958
    Betpoints: 2939

    how do i buy oil
    Reply With Quote Reply With Quote
  8. 04-20-20 02:09 PM #8
    RudyRuetigger
    Leave of absence until March Madness
    RudyRuetigger's Avatar Become A Pro!
    Join Date: 08-24-10
    Posts: 64,799
    Betpoints: 53

    Quote Originally Posted by Tanko View Post
    Of course JJ.
    This is "well-head" pricing so you have to:
    1. Pay to transport
    2. Pay to store/handle it


    But, if you were an oil trader w/ any kind of storage space, you'd be salivating at these prices. Its like printing money. Negative prices are an anomaly that won't last long.


    Obviously, this has never happened before so its crazy....
    i dont fukkin pay to store it. i have my own tanks that are rent free

    i pay the main fukkin people out the ass because they tax me out the ass

    better off just buying at a gas station
    Reply With Quote Reply With Quote
  9. 04-20-20 02:21 PM #9
    Tanko
    Slow roll
    Tanko's Avatar SBR PRO
    Join Date: 09-19-09
    Posts: 5,084
    Betpoints: 24774

    Quote Originally Posted by RudyRuetigger View Post
    i dont fukkin pay to store it. i have my own tanks that are rent free

    i pay the main fukkin people out the ass because they tax me out the ass

    better off just buying at a gas station
    I wish they were REALLY BIG tanks Rudy.

    You have to buy in 10's of thousands of gallons for each "contract". Think in terms of 500,000 12 oz. cans of beer. Then we could make a move on these prices.

    Average Joe's aren't likely able to capitalize directly on these oil prices but its interesting to consider.
    Reply With Quote Reply With Quote
  10. 04-20-20 02:25 PM #10
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    Negative prices for May currently

    June it is $21 a barrel
    Reply With Quote Reply With Quote
  11. 04-20-20 02:28 PM #11
    Art Vandelay
    Corona on St. Pats... WTF!
    Art Vandelay's Avatar SBR PRO
    Join Date: 09-11-06
    Posts: 6,529
    Betpoints: 57705

    Quote Originally Posted by Tanko View Post
    Oil started the day in the teens and dropped to zero.

    https://www.nbcnews.com/business/markets/oil-prices-tumble-lowest-level-1980s-n1187716
    At this rate, they might be paying us to fill our tanks, LOL
    Reply With Quote Reply With Quote
  12. 04-20-20 02:52 PM #12
    Black Coffee
    Black Coffee's Avatar Become A Pro!
    Join Date: 05-04-19
    Posts: 1,187
    Betpoints: 2360

    Wow.. crazy times
    Reply With Quote Reply With Quote
Top
« Previous Thread | Players Talk | Next Thread »