Oil price is collapsing lmao

[CIA Mole]

Russian and Saudi economies rely 70-80% on Oil. American economy doesn't even rely 5% on oil. America, the largest oil consumer in the world is going to be the biggest benefactor of low oil. For the 95% companies in the US that do not rely on oil, this is like a dream come true.

Lol you know nothing about US financial situation.

 

[PakFactor]

For some who have money for long term USO would some an investment.

 

[CrazyZ]

Store where i think pakistan has only 20-30 days storage capacity

I have some empty pots and pans. Can I store in their?

 

[Baba_Yaga]

Lol you know nothing about US financial situation

Yea, and i guess you know a lot after watching youtube videos and reading twitter posts predicting 'Amreekan collapse' .

 

[CrazyZ]

Pakistan could have solution mined Subsurface salt caverns.

No time for this. Just re purpose all available existing containers. And fill em up. Worry about environmental issues later.

 

[Baba_Yaga]

For some who have money for long term USO would some an investment.

I would refrain from USO and UCO for now. These etfs lose a lot of money everytime they roll over their future contracts. Whenever they roll over, they have to sell their current contracts and buy ones with longer maturities to preserve their risk position. Usually, these etfs roll over in the second week of the month. Imagine if oil prices had crashed in the 1st week of april instead of today. These etfs would have to sell their current contracts at $0 and buy June futures that are trading at $21-22. They would have been demolished.

 

[Sine Nomine]

Next regime change would be Saudi Arabia.

I can hear freedom at some distance.

 

[PakFactor]

I would refrain from USO and UCO for now. These etfs lose a lot of money everytime they roll over their future contracts. Whenever they roll over, they have to sell their current contracts and buy ones with longer maturities to preserve their risk position. Usually, these etfs roll over in the second week of the month. Imagine if oil prices had crashed in the 1st week of april instead of today. These etfs would have to sell their current contracts at $0 and buy June futures that are trading at $21-22. They would have been demolished.

True, but theirs a risk of that as well.
But those who play futures like me it's worth betting.

 

[AZ1]

Will it benefit Pakistan? I mean i heard that Pakistan buy brand oil and that is still $26 per barrel

 

[Haris Ali2140]

Kisi kay pass refinery hay???

 

[Song Hong]

This is controlled demolition by US capitalist class. Just 6 days ago, CME went for trial allowing negative future.


https://www.cmegroup.com/notices/clearing/2020/04/Chadv20-160.html

Recent market events have raised the possibility that certain NYMEX energy futures contracts could trade at negative or zero trade prices or be settled at negative or zero values, and that options on these futures contracts could be listed with negative or zero strike prices.

 

[Chhatrapati]

Well, that patient 0 munching bat soup must be given this decades butterfly effect award.

 

[BHAN85]

low oil prices in a long term (due to covid crisis) = Russia & Iran & GCC pushing for a war.

 

[kenyannoobie]

OP,this is what happens when you overreach yourself-when you overestimate your capabilities and resources. Salman is a true clown;getting into an oil price pissing contest with Putin and losing as conclusively as the Yemeni misadventure. It reminds me of a closed thread I had.

https://defence.pk/pdf/threads/if-t...-invasion-blame-this-guy.404715/#post-7797104

Anyway,the petrodollar may be done as is the hydrocarbon economy in a post covid 19 world and he's speeded up the inevitable fall of the House of Zi-oops!,err,Saud.

 

[CrazyZ]

OP,this is what happens when you overreach yourself-when you overestimate your capabilities and resources. Salman is a true clown;getting into an oil price pissing contest with Putin and losing as conclusively as the Yemeni misadventure. It reminds me of a closed thread I had.

https://defence.pk/pdf/threads/if-t...-invasion-blame-this-guy.404715/#post-7797104

Anyway,the petrodollar may be done as is the hydrocarbon economy in a post covid 19 world and he's speeded up the inevitable fall of the House of Zi-oops!,err,Saud.

The Saudi's are being vindicated for wanting deeper oil production cuts but the Russians refused to go along over a month ago. The American oil industry will be big loser. I expect Aramco to swoop in and buy most of the USA oil industry. Rockefeller would be proud.