Crude Oil Price

[Betone]

$6.64 per barrel.............:scared
buying opportunity :shrug:

 

[Betone]

Exxon..... XOM, Chevron.....CVX, Connoco philips .....COP looking pretty Juicy right now. Wow

Hell, went down to 4.90 a barrel in past 10 minutes........Holy shit

 

[yyz]

Looks like the "deal" with the Arabs and Russians isn't much of a deal.

 

[Betone]

Looks like the "deal" with the Arabs and Russians isn't much of a deal.

I think its driven more by no demands due to travel restrictions...... This should turn quickly when things start up again, JMO :0008

 

[yyz]

I think its driven more by no demands due to travel restrictions...... This should turn quickly when things start up again, JMO :0008

It will turn alright. $1.00 gas to $3.00!

That's a trend that's never wrong!

 

[yyz]

Oil was just down to 1.02 a barrel for the 5/20

 

[yyz]

-$2.00 a barrel.

How the fuck does that work?

Why wouldn't you short June WTI?

 

[Redhog]

:scared Several places around here under $1.00 a gallon.

 

[yyz]

:scared Several places around here under $1.00 a gallon.

We're talking barrel of oil prices.

Currently, oil is at -$35.00 a barrel.

That means "they" will pay you $35 to take a barrel of oil off of their hands.

:facepalm:


If this holds up on the June futures, you will get gas for .15 a gallon.

 

[Redhog]

We're talking barrel of oil prices.

Currently, oil is at -$35.00 a barrel.

That means "they" will pay you $35 to take a barrel of oil off of their hands.

:facepalm:

I got that....was only stating the price around here.

 

[yyz]

Someone had to get killed today. Whomever dumped all those futures will be out of business by Friday.

 

[Hamster]

I might have to put the thought of a Tesla on hold.

 

[JOSHNAUDI]

Credit - https://inflationdata.com/articles/inflation-adjusted-prices/historical-crude-oil-prices-table/

<table border="1">
<tr> <td> Year </td> <td> Nominal Price </td> <td> Inflation Price </td> </tr>
<tr> <td> 1946 </td> <td> $1.63 </td> <td> $21.20 </td> </tr>
<tr> <td> 1947 </td> <td> $2.16 </td> <td> $24.92 </td> </tr>
<tr> <td> 1948 </td> <td> $2.77 </td> <td> $29.73 </td> </tr>
<tr> <td> 1949 </td> <td> $2.77 </td> <td> $30.01 </td> </tr>
<tr> <td> 1950 </td> <td> $2.77 </td> <td> $29.70 </td> </tr>
<tr> <td> 1951 </td> <td> $2.77 </td> <td> $27.53 </td> </tr>
<tr> <td> 1952 </td> <td> $2.77 </td> <td> $26.92 </td> </tr>
<tr> <td> 1953 </td> <td> $2.92 </td> <td> $28.10 </td> </tr>
<tr> <td> 1954 </td> <td> $2.99 </td> <td> $28.73 </td> </tr>
<tr> <td> 1955 </td> <td> $2.93 </td> <td> $28.18 </td> </tr>
<tr> <td> 1956 </td> <td> $2.94 </td> <td> $27.92 </td> </tr>
<tr> <td> 1957 </td> <td> $3.14 </td> <td> $28.82 </td> </tr>
<tr> <td> 1958 </td> <td> $3.00 </td> <td> $26.82 </td> </tr>
<tr> <td> 1959 </td> <td> $3.00 </td> <td> $26.55 </td> </tr>
<tr> <td> 1960 </td> <td> $2.91 </td> <td> $25.41 </td> </tr>
<tr> <td> 1961 </td> <td> $2.85 </td> <td> $24.60 </td> </tr>
<tr> <td> 1962 </td> <td> $2.85 </td> <td> $24.31 </td> </tr>
<tr> <td> 1963 </td> <td> $2.91 </td> <td> $24.53 </td> </tr>
<tr> <td> 1964 </td> <td> $3.00 </td> <td> $24.95 </td> </tr>
<tr> <td> 1965 </td> <td> $3.01 </td> <td> $24.63 </td> </tr>
<tr> <td> 1966 </td> <td> $3.10 </td> <td> $24.64 </td> </tr>
<tr> <td> 1967 </td> <td> $3.12 </td> <td> $24.14 </td> </tr>
<tr> <td> 1968 </td> <td> $3.18 </td> <td> $23.55 </td> </tr>
<tr> <td> 1969 </td> <td> $3.32 </td> <td> $23.36 </td> </tr>
<tr> <td> 1970 </td> <td> $3.39 </td> <td> $22.54 </td> </tr>
<tr> <td> 1971 </td> <td> $3.60 </td> <td> $22.94 </td> </tr>
<tr> <td> 1972 </td> <td> $3.60 </td> <td> $22.21 </td> </tr>
<tr> <td> 1973 </td> <td> $4.75 </td> <td> $27.37 </td> </tr>
<tr> <td> 1974 </td> <td> $9.35 </td> <td> $48.84 </td> </tr>
<tr> <td> 1975 </td> <td> $12.21 </td> <td> $58.50 </td> </tr>
<tr> <td> 1976 </td> <td> $13.10 </td> <td> $59.40 </td> </tr>
<tr> <td> 1977 </td> <td> $14.40 </td> <td> $61.27 </td> </tr>
<tr> <td> 1978 </td> <td> $14.95 </td> <td> $59.16 </td> </tr>
<tr> <td> 1979 </td> <td> $25.10 </td> <td> $88.38 </td> </tr>
<tr> <td> 1980 </td> <td> $37.42 </td> <td> $117.30 </td> </tr>
<tr> <td> 1981 </td> <td> $35.75 </td> <td> $101.57 </td> </tr>
<tr> <td> 1982 </td> <td> $31.83 </td> <td> $85.15 </td> </tr>
<tr> <td> 1983 </td> <td> $29.08 </td> <td> $75.34 </td> </tr>
<tr> <td> 1984 </td> <td> $28.75 </td> <td> $71.41 </td> </tr>
<tr> <td> 1985 </td> <td> $26.92 </td> <td> $64.56 </td> </tr>
<tr> <td> 1986 </td> <td> $14.44 </td> <td> $33.97 </td> </tr>
<tr> <td> 1987 </td> <td> $17.75 </td> <td> $40.30 </td> </tr>
<tr> <td> 1988 </td> <td> $14.87 </td> <td> $32.48 </td> </tr>
<tr> <td> 1989 </td> <td> $18.33 </td> <td> $38.13 </td> </tr>
<tr> <td> 1990 </td> <td> $23.19 </td> <td> $45.65 </td> </tr>
<tr> <td> 1991 </td> <td> $20.20 </td> <td> $38.26 </td> </tr>
<tr> <td> 1992 </td> <td> $19.25 </td> <td> $35.39 </td> </tr>
<tr> <td> 1993 </td> <td> $16.75 </td> <td> $29.92 </td> </tr>
<tr> <td> 1994 </td> <td> $15.66 </td> <td> $27.25 </td> </tr>
<tr> <td> 1995 </td> <td> $16.75 </td> <td> $28.36 </td> </tr>
<tr> <td> 1996 </td> <td> $20.46 </td> <td> $33.63 </td> </tr>
<tr> <td> 1997 </td> <td> $18.64 </td> <td> $29.96 </td> </tr>
<tr> <td> 1998 </td> <td> $11.91 </td> <td> $18.86 </td> </tr>
<tr> <td> 1999 </td> <td> $16.56 </td> <td> $25.58 </td> </tr>
<tr> <td> 2000 </td> <td> $27.39 </td> <td> $41.02 </td> </tr>
<tr> <td> 2001 </td> <td> $23.00 </td> <td> $33.52 </td> </tr>
<tr> <td> 2002 </td> <td> $22.81 </td> <td> $32.69 </td> </tr>
<tr> <td> 2003 </td> <td> $27.69 </td> <td> $38.84 </td> </tr>
<tr> <td> 2004 </td> <td> $37.66 </td> <td> $51.39 </td> </tr>
<tr> <td> 2005 </td> <td> $50.04 </td> <td> $66.04 </td> </tr>
<tr> <td> 2006 </td> <td> $58.30 </td> <td> $74.59 </td> </tr>
<tr> <td> 2007 </td> <td> $64.20 </td> <td> $79.73 </td> </tr>
<tr> <td> 2008 </td> <td> $91.48 </td> <td> $109.25 </td> </tr>
<tr> <td> 2009 </td> <td> $53.48 </td> <td> $64.19 </td> </tr>
<tr> <td> 2010 </td> <td> $71.21 </td> <td> $84.24 </td> </tr>
<tr> <td> 2011 </td> <td> $87.04 </td> <td> $99.83 </td> </tr>
<tr> <td> 2012 </td> <td> $86.46 </td> <td> $97.17 </td> </tr>
<tr> <td> 2013 </td> <td> $91.17 </td> <td> $100.95 </td> </tr>
<tr> <td> 2014 </td> <td> $85.60 </td> <td> $93.24 </td> </tr>
<tr> <td> 2015 </td> <td> $41.85 </td> <td> $45.55 </td> </tr>
<tr> <td> 2016 </td> <td> $36.34 </td> <td> $39.02 </td> </tr>
<tr> <td> 2017 </td> <td> $46.27 </td> <td> $43.97 </td> </tr>
<tr> <td> 2018 </td> <td> $59.34 </td> <td> $57.77 </td> </tr>
<tr> <td> 2019 </td> <td> $50.46 </td> <td> $50.01 </td> </tr>
<tr> <td> 2020 (3 months) </td> <td> $39.42 </td> <td> $39.42 </td> </tr>
</table>

 

[Old School]

so what is the downside to this?

 

[yyz]

so what is the downside to this?

Bankrupting US shale oil companies.

 

[jas4bama]

Bankrupting US shale oil companies.

Explain in laymans terms please,,I heard Trump say in his press conference that some people were going to be sad cause they just lost big time in the futures market.

 

[yyz]

Explain in laymans terms please,,I heard Trump say in his press conference that some people were going to be sad cause they just lost big time in the futures market.

Shale is expensive to get out of the ground. Every barrel they currently pull costs them money. Sad people? Yes......the 250,000 oil workers who are out of a job, or headed there. In the next month, you will likely see most smaller companies fold.

Today's bloodbath was people running for cover. They literally have no place to put the oil when those contracts expire tomorrow. Some people on Wall St will feel sick, too.

 

[jas4bama]

Shale is expensive to get out of the ground. Every barrel they currently pull costs them money. Sad people? Yes......the 250,000 oil workers who are out of a job, or headed there. In the next month, you will likely see most smaller companies fold.

Today's bloodbath was people running for cover. They literally have no place to put the oil when those contracts expire tomorrow. Some people on Wall St will feel sick, too.

Thanks...So if you had invested in oil futures Im guessing you just lost every penny you had invested?

 

[The Joker]

<blockquote class="imgur-embed-pub" lang="en" data-id="a/CANYbCA"><a href="//imgur.com/a/CANYbCA"></a></blockquote><script async src="//s.imgur.com/min/embed.js" charset="utf-8"></script>


..

 

[hedgehog]

so what is the downside to this?

:facepalm: