Crude Oil at $11 — WTF? (stocks, economy, dollar, sales)

[TimAZ]

When the price of a commodity used around the world changes 35% in a matter of hours, I think it’s fair to ask what the hell is going on?

[mathjak107]

it is the way the contracts vs spot worked out ....the contracts are rolling tomorrow and spot vs contract pricing has huge differences.

USO said last night they are going out longer on 20% of all their contracts. they own billions in oil so that effected equilibrium too

[man4857]

Originally Posted by TimAZ

When the price of a commodity used around the world changes 35% in a matter of hours, I think it’s fair to ask what the hell is going on?

The world economy is slowing down big time is what is happening. Every country in the world is going through the same thing - health-wise and economic-wise.

[mathjak107]

it has more to do with the contracts

https://www.etf.com/sections/feature...ure?nopaging=1

[Oklazona Bound]

Originally Posted by mathjak107

it has more to do with the contracts

https://www.etf.com/sections/feature...ure?nopaging=1

Its at $11 for several reasons culminating in expiring contracts. US storage is nearing capacity and we simply do not know when demand for oil will pick up. There is simply no good news regarding oil at this time.

[wac_432]

"It's the End of the World as We Know it!"
"And I feel fiiiiiiine...."

[Thatsright19]

An oil price ceiling is a dollar price floor and an oil bottom is a...

[Willy702]

What will you say after April expiration and the price of oil seems to double in an instant?

[Taggerung]

Shale oil is finished, but of course they'll be bailed out and propped up.

What will happen to oil producing nations such as Russia and Saudi Arabia who rely on oil sales for the bulk of their revenue?

[JL]

what are some good oil stocks or ETF funds? i guess decreasing output isn't gonna help when there is no demand anyway at this point.