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Old 04-21-2020, 01:46 AM
 
Location: San Diego
4,406 posts, read 5,803,428 times
Reputation: 3198

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Did anyone notice the complete collapse in the oil market today? The price of oil fell to negative $36.20 a barrel—yes, you read that right. Oil producers will pay you to take their oil. This sounds like it has the potential of a nice Retirement job. Pickup a few barrels of oil and get a check.

https://finance.yahoo.com/news/oil-p...203927909.html

Last edited by cruitr; 04-21-2020 at 01:58 AM..
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Old 04-21-2020, 01:47 AM
 
80,173 posts, read 78,518,791 times
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it was only a temporary glitch for the day because of an expiring contract . oil is back in the 20's today under the new may contract
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Old 04-21-2020, 01:53 AM
 
Location: San Antonio/Houston/Tricity
42,182 posts, read 60,990,009 times
Reputation: 98899
Yup! It will bounce back.
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Old 04-21-2020, 02:04 AM
 
Location: San Diego
4,406 posts, read 5,803,428 times
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Quote:
Originally Posted by mathjak107 View Post
it was only a temporary glitch for the day because of an expiring contract . oil is back in the 20's today under the new may contract
Did you see this article on 'negative interest rates'? I may have refi'd my mortgage too soon.

https://www.forbes.com/sites/amiyato.../#50406b6a2f87
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Old 04-25-2020, 02:56 AM
 
Location: From the Middle East of the USA
1,006 posts, read 739,866 times
Reputation: 1021
Oil drives the economy. It will bounce back.
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Old 04-25-2020, 03:51 AM
 
80,173 posts, read 78,518,791 times
Reputation: 56684
nothing cures low prices like low prices ... nothing cures high prices like high prices .

ultimately the cost of producing a barrel of oil has not gone down . so eventually supply and demand fall back in line

this too will fix itself .

Last edited by mathjak107; 04-25-2020 at 05:05 AM..
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