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PR Newswire
21-04-2020, 09:02 AM
https://www.cnbc.com/2020/04/20/oil-mark...CuMVe_3X1c
West Texas Intermediate crude for May delivery fell more than 100% to settle at negative -$37.63 per barrel, meaning producers would pay traders to take the oil off their hands.
The only buyers of oil futures for that contract are entities that want to physically take the delivery like a refinery or an airline. But demand has dropped and storage tanks are filled, so they don’t need it.
“There is still a lot of crude on the water right now that is going to refineries that do not need it,”
Producers pays $37.63 to buyers to take/store oil.... :O :O :O
West Texas Intermediate crude for May delivery fell more than 100% to settle at negative -$37.63 per barrel, meaning producers would pay traders to take the oil off their hands.
The only buyers of oil futures for that contract are entities that want to physically take the delivery like a refinery or an airline. But demand has dropped and storage tanks are filled, so they don’t need it.
“There is still a lot of crude on the water right now that is going to refineries that do not need it,”
Producers pays $37.63 to buyers to take/store oil.... :O :O :O
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!