crude oil at lowest price since August

BB is too much of a child to actually read and be informed. Much less admit he was wrong. Maybe in April of last year he was too busy crying “Fauxvid”or some other nonsense to watch actual news and know some facts. I’m sure he”ll respond with misplaced ellipses and some asinine Brandon comment in

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1 Originally Posted by NoirMan

He claims oil has never been close to zero....when proven wrong he stfu and does not admit so.

When proven wrong about people vaccinated just as likely to die from Covid by Tiny, he goes on a rant about believing nurses and doctors and claiming his wife is a anesthesiologist.

bb1961 has gone full retard these last two weeks.

More than 2 weeks. It's the BDS that may be worsening, and causing the decline.

He claims oil has never been close to zero....when proven wrong he stfu and does not admit so.

When proven wrong about people vaccinated just as likely to die from Covid by Tiny, he goes on a rant about believing nurses and doctors and claiming his wife is a anesthesiologist.

bb1961 has gone full retard these last two weeks. Originally Posted by WTF

When was oil anywhere near zero...your intelligence yes, oil no...

When was oil anywhere near zero...your intelligence yes, oil no... Originally Posted by bb1961

April 20 2020

Jesus fucking H Christ...how many times do I have to tell you?

bb.... you keep forgetting ....

He's got "sources"!



A "College" education aka "Collage Education"!

As for his "oil" marketing expertise and headline robbing ...

... actually the data he tossed out was a "futures" price for FUTURE delivery if a buyer in the future had the capacity to store the purchased barrels ON THE FUTURE DATE. To be precise WTFdoIknow couldn't buy a barrell for less than market on April 20, 2020, if his Sports Illustrated life depended on it.

That's why meat packing/slaughter houses BUY FUTURE CONTRACTS in FEED GRAINS. They can offset any price losses in "meat" in the future by increased earnings from the sale of grain in the future with a lower investment in their grain contracts thereby creating profits to offset the losses.

I stated earlier, BB is plain dumb. Maybe he doesn’t understand what zero means. Or even what negative means. Clearly he lacks understanding of what an ellipsis is used for.

bb.... you keep forgetting ....

He's got "sources"
A "College" education aka "Collage Education"! Originally Posted by LexusLover

Do you too not know that oil went negative on 4/20/2020

https://www.cnbc.com/2020/06/16/how-...s-trading.html

I stated earlier, BB is plain dumb. Maybe he doesn’t understand what zero means. Or even what negative means. Clearly he lacks understanding of what an ellipsis is used for. Originally Posted by NoirMan

His wife has convinced him the vaccine does not help in preventing hospitalizations.

Maybe he has a girlfriend somewhere that has convinced him oil went negative.. or boyfriend

Do you too not know that oil went negative on 4/20/2020

https://www.cnbc.com/2020/06/16/how-...s-trading.html Originally Posted by WTF

You're the dumb ass...Your level of comprehension is below moron level!!


The “real” price of oil wasn’t actually negative. It was a panic to not settle physically. In fact, if energy companies hedge, they were likely the ones selling futures contracts before this point… So this caused oil to turn negative?
Why did oil prices go negative? - Diligent Dollar

https://diligent-dollar.com/2020/04/...s-go-negative/

From the same article you posted. In fact the next paragraph. So since commodities trading is exactly what sets oil prices it was NEGATIVE.

“So this caused oil to turn negative? Yes. As traders looked at their May contracts, they realized they couldn’t take physical delivery without paying huge prices. Also, panic probably settled in”

From the same article you posted. In fact the next paragraph. So since commodities trading is exactly what sets oil prices it was NEGATIVE.

“So this caused oil to turn negative? Yes. As traders looked at their May contracts, they realized they couldn’t take physical delivery without paying huge prices. Also, panic probably settled in” Originally Posted by NoirMan

I'm sure you believe BRANDON that the $3.5 TRILLION BBB will cost nothing also...you and your minions libtard math. Did you save your 2 cents at the pump...better hurry!!
The WoPo even says that what VM says is BULLSHIT...that's the topic of the post!!
https://www.eccie.net/showthread.php?t=2816590

The little lap dog speaks again

I'm sure you believe BRANDON that the $3.5 TRILLION BBB will cost nothing also...you and your minions libtard math. Did you save your 2 cents at the pump...better hurry!!
The WoPo even says that what VM says is BULLSHIT...that's the topic of the post!!
https://www.eccie.net/showthread.php?t=2816590 Originally Posted by bb1961

You stupidity is becoming more and more evident with your every post.

When was oil anywhere near zero...your intelligence yes, oil no... Originally Posted by bb1961

... actually the data he tossed out was a "futures" price for FUTURE delivery if a buyer in the future had the capacity to store the purchased barrels ON THE FUTURE DATE. To be precise WTFdoIknow couldn't buy a barrell for less than market on April 20, 2020, if his Sports Illustrated life depended on it. Originally Posted by LexusLover

Actually the price of the physical commodity, not just the futures contract, went negative on April 20, 2020. If you had storage capacity at tank farms in the Permian Basin you could "buy" the crude and then take delivery. But instead of paying the seller, the seller would have had to pay you around $30 per barrel. I know an oil operator who tried to get hold of some tanker trucks then and do exactly that.

The price went negative on the day before expiration of the May, 2020 commodities contract. If you had storage capacity in Cushing, Oklahoma then, the delivery point for the contracts, you likewise could have bought contracts and taken delivery of the crude, and the seller would have had to pay you money.

The May contract expired on April 21, at +10.01/barrel. Traders who bought on April 20th and sold on the 21st made a bundle. On the other hand, there were some traders who were on the other side of the trade who lost a lot of money, as well as their brokers, who had not collected sufficient margin funds from the traders because the brokers never in their wildest dreams expected the price would go negative.