Oil just crashed

[QuintessentialMan]

US oil price below $1 a barrel as storage capacity runs out Benchmark collapses to unprecedented low as traders try to rid themselves of unwanted crude. US oil prices headed to negative territory after crashing to one cent a barrel as the collapse in demand caused by the coronavirus pandemic leaves the world awash with oil and not enough storage capacity — meaning producers may soon be paying for buyers to take it off their hands. West Texas Intermediate, the US marker, lost 99 per cent on Monday, with the price of oil for delivery next month sinking to record lows on warnings that traders were struggling to access storage capacity at the refinery hub of Cushing, Oklahoma, which is expected to be full within weeks.


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[Freedman]

Oil&Gas a huge part of our state budget + economy so shyt probably gonna get spooky around here

 

[I AM WE ARE]

US oil price below $1 a barrel as storage capacity runs out Benchmark collapses to unprecedented low as traders try to rid themselves of unwanted crude. US oil prices headed to negative territory after crashing to one cent a barrel as the collapse in demand caused by the coronavirus pandemic leaves the world awash with oil and not enough storage capacity — meaning producers may soon be paying for buyers to take it off their hands. West Texas Intermediate, the US marker, lost 99 per cent on Monday, with the price of oil for delivery next month sinking to record lows on warnings that traders were struggling to access storage capacity at the refinery hub of Cushing, Oklahoma, which is expected to be full within weeks.


Subscribe to read | Financial Times

I'll be the 1st to admit I have no idea what this means

 

[Koba St]

I'll be the 1st to admit I have no idea what this means

Means you ain’t getting any stimulus check as the state is broke.

This lockdown needs to end quick otherwise what’s coming next will be far worse

 

[CodeBlaMeVi]

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[Hawaiian Punch]

Unfukking real

 

[CodeBlaMeVi]

I'll be the 1st to admit I have no idea what this means

When oil falls, that means the economy is sure to follow. It means nothing or no one is moving.

 

[chkmeout]

let it burn!! it was $20 like a week ago!

 

[fkthisgaysite]

I'll be the 1st to admit I have no idea what this means

Lol I was finna post sum similar. Good lookin on taking tha bullet.

 

[NkrumahWasRight Is Wrong]

-$35

They can pay me ill take some barrels

 

[I AM WE ARE]

Means you ain’t getting any stimulus check as the state is broke.

This lockdown needs to end quick otherwise what’s coming next will be far worse

When oil falls, that means the economy is sure to follow. It means nothing or no one is moving.

Didn't Get one anyways but I appreciate the knowledge. So does this mean more overseas conflict, gas prices fluctuating?

 

[Rell Lauren]

There's a thread on this already. The Saudi/Russian proxy war has had huge effects. They flooded the market.

 

[Dafunkdoc_Unlimited]

Time to invest in oil.

Quarantine won't be forever.​

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[I AM WE ARE]

Lol I was finna post sum similar. Good lookin on taking tha bullet.

Bruh I have no shame when it comes to stuff like this, I'd rather ask and find out than just be ignorant

 

[Savvir]

Means you ain’t getting any stimulus check as the state is broke.

This lockdown needs to end quick otherwise what’s coming next will be far worse

second wave gonna make the lockdown look like a vacation