What happens next?
6 replies (most recent on top)
Grab your ankles baby.
Everyone gets to take a big bite of sh!t sandwich, that’s what’s next
**No more storage capacity’. That’s why It turned negative
So today’s price was for oil contract for May. Today was last day of contract, there is. I lore storage capacity’. That’s why I turned negative. Tomorrow June’s oil contract should open in 20’s. However, it could turn negative if storage capacity becomes an issue.
Only thing we can do is just...Survive and Advance
When Oil prices turned negative. Hundreds of US oil companies could go bankrupt.
This is uncharted territory no one has ever seen. Does trump buy oil and store it, do we pay producers to stop drilling, do we give loans to oil companies? We need economy back to work to help drive up demand of oil.