Most of the volume is indeed in June futures, which is still over $22 (down from $25-ish Friday), but May barrels are now less than $8!
Most of the volume is indeed in June futures, which is still over $22 (down from $25-ish Friday), but May barrels are now less than $8!
Yes, I was just posting that...INSANE!!!I'm showing $5.58. Nowhere to store it I guess. Pretty remarkable.
Yes, I was just posting that...INSANE!!!
Gasoline Is Selling for 12 Cents a Gallon and Nobody Wants It
Now this is wholesale prices but............................
Its not necessarily bad all around. Oil companies yes. For consumers, its like a tax cut if they are
actually dropping the prices. Where I live there's still plenty of stations at 3.00 a gal.,
so the oil companies are still making plenty of money here.
3 uninsured ED visits and "treatment" (I'm assuming labs, XRs, perhaps CTA, breathing treatments, antibiotics), and oh yeah, $30k sounds easy.
With a history of cancer, they may have done a lot more, called in oncology consults, etc.
Healthcare isn't a right. The only right you have is to die in a gutter...assuming you aren't trespassing or violating panhandling laws.
#Keep America Great
It's almost time for the gas stations to get back to super mini marts. Cheap gas means that people will have plenty of money for treats. Nothing is better for the economy in America than cheap gas. People take out their boats, RV's, trucks and cars.
I'm showing $5.58. Nowhere to store it I guess. Pretty remarkable.
Welcome to how the world works and the concept of "what the market will bare."What I hate about all this is it shows how gas prices is just a huge game, it has nothing to do with the actual cost of producing it but what the game players choose to set the prices to in order to play with the world economy. It's just a huge scam. We need to get off oil for energy, for the sake of the planet, and for sake of having a more stable and self reliant system for energy and economy.
Here in Canada we get screwed either way, gas prices did go down at an all time low, but no where near as low as the states. Still pre 9/11 prices though so it's still kinda crazy to see. But thing is when oil prices go back up to normal our prices will then skyrocket to higher than they were when oil was that price already. It's all a big game.
So what does this mean? No one wants to take actual physical delivery tomorrow?
I guess no one has any place to put oil in May.So what does this mean? No one wants to take actual physical delivery tomorrow?
I recall something like $0.79/gallon at one point after 9/11 here in Georgia.Didn't it skyrocket at that point? I remember it had never been over a dollar here until after 9/11. Signs at gas stations used numbers that were manually inserted and only had space 2 digits. They had to upgrade all the signs after to be able to add the 1.
There's storage in other parts of the world. I guess it's not worth it to have it shipped somewhere else.No place to store it.
Trump released part of the US oil reserves in September 2019, in March 2020 said to replenish the reserves.No place to store it.