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Old 04-20-2020, 11:08 AM
 
45,591 posts, read 27,215,643 times
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... per our local broadcast.

Holy cow...

Crude Oil Plummets Under $10 A Barrel As New Contract Approaches
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Old 04-20-2020, 11:10 AM
 
Location: Arizona
6,137 posts, read 3,868,644 times
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Default Price of a barrel of oil lowest since 1974 to $4.31 a barrel

Wow, Plunged to $4.31 for a barrel of oil during the day today for a barrel WTI oil lowest since 1974.

I believe that is about a 97% decrease from 2008.

https://abc7news.com/gas-prices-lowest-in-a-decade-13-states-where-is-under-$1-drop-amid-coronavirus-pandemic/6116861/

https://www.eia.gov/dnav/pet/hist/Le...F000000__3&f=A

https://www.cnbc.com/2020/04/20/oil-...ts-demand.html
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Old 04-20-2020, 11:17 AM
 
Location: New Jersey
16,911 posts, read 10,600,924 times
Reputation: 16439
Thank you President Trump!
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Old 04-20-2020, 11:23 AM
2K5Gx2km
 
n/a posts
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Originally Posted by DRob4JC View Post

So what should we buy?
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Old 04-20-2020, 11:32 AM
2K5Gx2km
 
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Originally Posted by TB12inTB2020 View Post
Oil/Gas stocks of companies that have good (relative term today) balance sheets, to name some. Just like no one wanted bank stocks in 2009, look what you would have it you had bought them then. I am NOT saying to load up, but just pick away.

I'm just thinking a $1,000 or so in USO? Never had crude oil stocks before so I have no clue.
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Old 04-20-2020, 11:34 AM
2K5Gx2km
 
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Quote:
Originally Posted by TB12inTB2020 View Post
Start with SLB instead.

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Old 04-20-2020, 11:44 AM
 
4,583 posts, read 3,411,758 times
Reputation: 2605
Time to dust off the 75 Eldorado with the 9L engine.
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Old 04-20-2020, 11:47 AM
 
Location: Kansas City, MISSOURI
20,872 posts, read 9,554,916 times
Reputation: 15598
It's now down to $1.25/barrel as I write this:
https://www.marketwatch.com/investin...?mod=home-page

A barrel of oil is now cheaper than a gallon of gasoline!
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Old 04-20-2020, 11:49 AM
 
45,676 posts, read 24,035,206 times
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But didn't Trump tell us he worked a deal with the Opec guys to fix the plummeting oil prices?

Oh maybe that was another Trump.
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Old 04-20-2020, 11:53 AM
 
Location: Wartrace,TN
8,070 posts, read 12,793,878 times
Reputation: 16526
Lack of demand and there's no place to store it. Some may see this as "great" however if oil producers start shutting down wells (expensive to do) we will pay for it in the future.
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