When will we see 100LL below $0?

And crude storage is supposedly at capacity... they’re going to need to pay us to take some of that off their hands! :)
 
More like oil etf's, banks and hedge funds selling contracts to avoid delivery because there is no place to store the stuff, and it makes a helluva mess in the lobby.
 
"When will we see 100LL below $0?"

Just as soon as they need the 100LL tanks to store crude.
 
Walboy said:
This is the big boys unwinding their hedges before May contract goes off the board. My guess is that participants buy their way out if they have to rather than deliver or take delivery.

June 2020 futures are quoted at $21.20.
Click to expand...

Yeah but whoever "buys" the contract has to take delivery. Or store it inside an oil tanker somewhere.
 
There is a lot of old dry oil wells in Texas, why can’t we just pump the stuff back into the ground?
 
GRG55 said:
Why not just leave there in the first place? ;)
Click to expand...
Because the "first place" has already come and gone and the oil is already out of the well.

But as they say, when you are in a hole, the best way to get out is to stop digging.
Conversely, when you have too much oil, you should stop pumping.

But since I don't really know much about oil production, can you just turn off a well spigot?
 
Imagine having bought $100,000 worth of oil at $1 only to get a call later from you broker telling you it'll cost $3,763,000 to get out of the contract...
 
You must log in or register to reply here.
Back
Top