W.T.F

the black fox

the black fox

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Jeff
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My lad keeps a keen eye on the stock market .. and has just shown me todays u.s oil prices it’s down to a totally unbelievable 1 cent a barrel the lowest it’s ever been .. think there might be a few silly sides coming soon .. it never went that low in the Great Depression ..

wonder what’s Donald’s reaction is gonna be
 
Its gone negative for deliveries in May. Producers are paying people to take it away because they’ll have nowhere to store it. Blimey.
 
Stuff what he thinks, get your heating tanks filled up! Looked earlier and it’s 24p a litre today!
 
yep Putin helped stuff it up a few months ago when opec wanted cuts and he told them to shove it up their arses.
trouble with oild production is you cannot just stop pumping it out the ground like you can stop making cars or toulet rolls.
so no they need to store it and that costs more to do than it is worth.
trump is in big trouble with this one.
 
Like my uncle from Texas always said, buy low, pay when you sell. My uncle was not a particularly bright man.
 
the black fox said:
My lad keeps a keen eye on the stock market .. and has just shown me todays u.s oil prices it’s down to a totally unbelievable 1 cent a barrel the lowest it’s ever been .. think there might be a few silly sides coming soon .. it never went that low in the Great Depression ..
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It was -$40 a barrel at one point for May delivery. It recovered slightly to -$37. The Oil companies have little demand at the mo and a shortage of storage hence why they're having to effectively pay people to take it off their hands. WTF indeed
 
Wonder how this will impact on pump prices and as most of what we pay in the u.k is tax ,how it will impact the chancellors plans
 
Deadhead said:
Its gone negative for deliveries in May. Producers are paying people to take it away because they’ll have nowhere to store it. Blimey.
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Yes, the US is awash with oil and was desperate to get the storage tanks emptied. Prices will quickly recover. Brent prices remain around $25/barrel.
 
the black fox said:
Wonder how this will impact on pump prices and as most of what we pay in the u.k is tax ,how it will impact the chancellors plans
Click to expand...
The last news item about this that I heard was, it'll have no effect on UK prices.
What a surprise :rolleyes:
 
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