Oil Drops To Lowest Level in 22 Years! 😳
Kex
Posts: 5,113
West Texas Intermediate prices dropped as low as $10.03 today, a decrease of about 45%.
Alea jacta est!
Comments
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It ain't worth pumping.
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I don’t recall ever seeing such a wide disparity between WTI and Brent prices.
Normally, Brent (the world standard) is always a little more expensive than WTI, but today, Brent is “only” down 5%, at $26.50! 😳Alea jacta est! -
I thought the Russia-Syria thing was resolved and prices were gonna go up?Yep, my name really is Bob.
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Coronavirus remediation must be lowering gasoline demand in the states BIGLY.George / NJ
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Oil Drops To Lowest Level in 22 Years!
Well, you better add a quart or two before you throw a rod*.
*Any innuendo implied is no fault of poster. -
Alea jacta est!
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Demand is off bigly....coupled with a price war. When do they run out of storage for all this oil??
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Air is a lot cleaner now.Lumin X1 file player, Westminster Labs interconnect cable
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Time to fill up the autos. Wonder what the HOA would have to say if I put a couple 350 gal totes in the driveway lol.Don't take experimental gene therapies from known eugenicists.
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Gas will still be $3.50 in CAntafordya.Don't take experimental gene therapies from known eugenicists. -
When the oil industry completely collapses the air will be super clean, more good news!
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Trouble with modern gas is you can't store it for very long before going bad.
So everywhere they are storing the raw crude. And tanks are pretty much full.
Given how little I'm driving, I might have to pour some stay-bil in the car
gas tanks.
"The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson -
It is still over 3 dollars here where I am at, ant when oil starts going back up, they will still raise gas prices. When the rest of the country gets back to 3 dollars, ours will be 7 bucks...The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
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sucks2beme wrote: »Given how little I'm driving, I might have to pour some stay-bil in the car gas tanks.
I use Startron Fuel Treatment. Works a lot better especially with ethanol fuels.
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$5.20 a barrel now. I did see a print of $4.69 a few minutes ago.
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motorhead43026 wrote: »$5.20 a barrel now. I did see a print of $4.69 a few minutes ago.
WOW.
So both the Saudis and Russians are losing money for every barrel pumped? I saw somewhere the break even points for each country but cant recall what they were. -
Yup... $4.04 was the low at this point. These are the May contracts. Expiration is tomorrow.Alea jacta est!
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sucks2beme wrote: »Trouble with modern gas is you can't store it for very long before going bad.
So everywhere they are storing the raw crude. And tanks are pretty much full.
Given how little I'm driving, I might have to pour some stay-bil in the car
gas tanks.
That's it you don't know the chemistry.
1/640 ratio of acetone/Petro is the stoichiometric "sweet spot" to keep the organic acids from forming.
Post edited by xschop onDon't take experimental gene therapies from known eugenicists. -
It’s already well under $3 for regular grade at reputable stations (Shell, 76 etc.), and as low $2.39 at Arco, but since you’re rich, you only use Premium grade in the new Benz and the Jag 😜 ... but even that is well under $3 today (although not in my neighborhood).nooshinjohn wrote: »It is still over 3 dollars here where I am at, ant when oil starts going back up, they will still raise gas prices. When the rest of the country gets back to 3 dollars, ours will be 7 bucks...
With these crude prices, it should continue to drop, though.Alea jacta est! -
I thought all the oil was supposed to be gone by now...? What happened?"Conservative Libertarians love the country, progressive leftists love the government." - Andrew Wilkow
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I thought all the oil was supposed to be gone by now...? What happened?
You believed the rhetoric from the 70s.Don't take experimental gene therapies from known eugenicists. -
I thought all the oil was supposed to be gone by now...? What happened?
Fonzie, Lenny, and Squiggy wrung out their toupees.
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Contracts for May lowest since 1946!2 channel: Anthem 225 Integrated amp; Parasound Ztuner; TechnicsTT SL1350; Vincent PHO-8 phono pre; Marantz CD6005 spinner; Polk SDA2BTL's; LAT International speaker cables, ZU Mission IC's and power cables all into a PS Audio Dectet Power center.
Other; M10 series II, M7C's, Hafler XL600 amp, RB-980BX, Parasound HCA-1500 amp , P5 preamp, all in storage. All vintage Polk have had crossover rebuilds and tweeter upgrades.
The best way to predict the future is to invent it.
It is imperative that we recognize that an opinion is not a fact. -
Yup! It actually turned negative, down to -$40 at one point.
They are paying people to take oil away so that they don’t have to shut down wells that would be more costly to reopen.
This is only for the May contracts that expire tomorrow. The June contracts are still about $20 (positive 😂).Alea jacta est! -
From what I understand they are very close to that, and maybe another reason Price's are dropping like a rock.Demand is off bigly....coupled with a price war. When do they run out of storage for all this oil?? -
Costco, Berkeley & Jensen, Mobil, Shell all sitting at $1.59 for regular. It’s gotten to the point that at Shell E85 is the same as regular, never thought that would happen.So, are you willing to put forth a little effort or are you happy sitting in your skeptical poo pile?
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