Oil price lowest in 20 years

[Ache4Acres]

Crazy 30% drop in early trading today.

[hobbyfrmr]

Seriously, I am concerned for Canada’s economy.
Canadian oil is as worthless as wheat.

[SASKFARMER]

Or should a guy take Trudeau's 40000 and buy oil?

Basically buy about 2300 Barrels of oil and wait.

If it goes up to back to normal you have 200000 and pay trudeau the 30000 back.

Leave Canada before because he will tax the shit out of it.

[sumdumguy]

Today must be the day to buy oil stocks, futures, physical. It can’t stay low forever. Oil, in our economy is Essential with a capital E. Those of us that haven’t been blinded by the Gore/Suzuki Light can still see The Real Light.

[foragefarmer]

That's the May futures which expires tomorrow, June contract is $22.00.

[fjlip]

Oil/Gas cheapest energy source! Low prices will KILL/DESTROY any and all "green scam" sources!

Cancel wind turbines, $$$ losing bigtime!

It's a great time !

[helmsdale]

There are some boys and girls getting BTFO on the may WTI contract... WOW! Close of contract is upcoming, and it's currently trading $-35.20!!!

[Rareearth]

There are some boys and girls getting BTFO on the may WTI contract... WOW! Close of contract is upcoming, and it's currently trading $-35.20!!!

So can a guy buy today at a whole sale rack at that price? Just wondering where those future delivery sites are, on ocean ports?

[helmsdale]

So can a guy buy today at a whole sale rack at that price? Just wondering where those future delivery sites are, on ocean ports?

WTI settles FOB Cushing Oklahoma

[malleefarmer]

Have to admit I’m having trouble getting my head around all this

[helmsdale]

Have to admit I’m having trouble getting my head around all this

See:

https://www.zerohedge.com/markets/here-full-explanation-behind-oils-unprecedented-negative-price https://www.zerohedge.com/markets/here-full-explanation-behind-oils-unprecedented-negative-price

and:

https://www.zerohedge.com/energy/heres-next-problem-where-do-100-million-oil-barrels-get-delivered https://www.zerohedge.com/energy/heres-next-problem-where-do-100-million-oil-barrels-get-delivered

I don't imagine there are alot of producers taking the spot price this late into the month, and there are a shit ton of speculators that are desperate to unload their paper barrels, or else they are going to become REAL barrels when the may contract settles (tomorrow afternoon I think).

[AlbertaFarmer5]

See:

https://www.zerohedge.com/markets/here-full-explanation-behind-oils-unprecedented-negative-price https://www.zerohedge.com/markets/here-full-explanation-behind-oils-unprecedented-negative-price

and:

https://www.zerohedge.com/energy/heres-next-problem-where-do-100-million-oil-barrels-get-delivered https://www.zerohedge.com/energy/heres-next-problem-where-do-100-million-oil-barrels-get-delivered

I don't imagine there are alot of producers taking the spot price this late into the month, and there are a shit ton of speculators that are desperate to unload their paper barrels, or else they are going to become REAL barrels when the may contract settles (tomorrow afternoon I think).

And I presume that if you don't have a tanker already booked to store it, taking delivery is a bit of a problem right now?