panic??

[Carcounter]

I get it, but still don't understand why on Feburary 19 at the debate, when we had even more info about the virus, not one second out of what, 2 hours was devoted to it. Really tells me how serious they were abot it.

[notes1]

something you might not see ever see again in one's lifetime... oil just broke below $1 a barrel. that's a barrel, not a gallon.

[Carcounter]

Not good for the Green new Deal.

[FAA]

oil just broke below $1 a barrel.
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Sounds like you're gloating. Not great optics.

[seemoreroyals]

Oil is now -$3.70 May delivery. I guess that is what they would pay you to come take it off their hands because there is no place to put it. Not sure exactly how that works.

Edit: As I was posting it went down to -$7.50 a barrel.

[notes1]

oil just broke below $1 a barrel.
--------------------------------------
Sounds like you're gloating. Not great optics.

what the hell are you talking about, gloating? i am just reporting a news event that most would not follow, as closely as i do. i have no skin in the oil game.

i'll tell what is not good optics, most every post you make, no idea what you are talking about.

[notes1]

Oil is now -$3.70 May delivery. I guess that is what they would pay you to come take it off their hands because there is no place to put it. Not sure exactly how that works.

Edit: As I was posting it went down to -$7.50 a barrel.

these are 'futures' contracts. complicated and above my pay grade.

but, essentially, the story is there is far more oil being produced than demand.

[FAA]

i have no skin in the oil game.
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Exactly, so it comes off as torpedoing those who do. Look, I'm losing a lot these days. Why shovel dirt on the grave or rub salt in the wound?

[seemoreroyals]

I put in a buy order earlier today to buy a partial position of USO for $3.75 a share. Watching this meltdown in the oil futures market gave me cold feet so I cancelled my buy order. I see at one point USO fell to $3.74 a share. Must have been right after I cancelled my order. Strangely USO had a trading range today only between $3.74 and $4.05. I may try again tomorrow when my crystal ball gets out of the shop. My crystal ball is watching Jim Cramer tonight to see what he has to say about this. BTW the way the May contract for oil settled today at -$37.63/barrel.

[seemoreroyals]

The way things are going they are going to start giving away stuff at the gas stations to get you to fill up. I still remember when I first started driving in the early 70's gas at about 20 to 25 cents a gallon with full service and they would usually give you a set of glasses or dish towels for filling up. And not long after there was an oil embargo and these same gas stations were getting whatever they wanted for gas and we had to wait in line for a couple of hours to get gas. We were told we were running out of oil. Turns out we still have more oil than we able to use in the foreseeable future.