Barrel of oil is literally below $0

>step 1: buy thousands of barrels of oil
>step 2: recieve money and barrels
>step 3: give away the barrels for free (or really cheap for some additional delicious profit) to clueless normies

chinese metal

Regular citizens have no way of buying barrels of oil. It's impossible for us to profit then isn't it?

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bro where the fuck are you gonna put 1000s of barrels of oil?

Is there a way to see the terms of such a futures contract? Does it specify the delivery location, transport and storage requirement, potential late pickup fees, etc?

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yeah you are a moron.

You should have bought this ETF:

tradingview.com/symbols/AMEX-DTO/

It's literally a stock that shorts oil.

way to fuck up again, user.

EPA inspections, storage licenses, municipal approvals, fire inspections, security, property taxes...

and even then, how many barrels could a barn hold? a few hundred? you would be lucky if you can cover the cost of the land the barn is on...

can't you just get the contract now and then sell it later to someone else when the price goes back up and demand increases? then you don't have to buy the oil, you just sell the contract.

The physical barrels are not included in the price of a barrel of oil. And metal is expensive. And so is transporting thousands of barrels to your property. There is no way to profit from this for your average person.

This. TEEKAY GANG

Also, made a lot on FRO today, feels greedy good

So buy barrel stonks?

I’m confused. Brent crude oil is at 25.50 or am I missing something?

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>can't you just get the contract now and then sell it later to someone else when the price goes back up and demand increases?

The contracts have an expiration date one month before the date of delivery. The reason prices went negative is because several contracts were set to expire tomorrow, and the oil for those contracts is gonna be delivered in May. The people holding those contracts don't actually have the ability to store the oil, they are financial speculating kikes and retards like you and me who are allowed to buy those contracts and hope the price will go up and they can make money. The price didn't go up and they held the contracts until the last second, and realizing the situation they were in they had to pay people with storage to take the contracts off their hands, hence the negative price.

>There is no way to profit from this for your average person.

Come May, if the prices go negative again just "buy" up all the contracts you can. Accept payment from all these people to the tune of several million. Cash out and skip town before the delivery date. Hide somewhere outside of the reach of the Feds.

So it's a good thing that I didn't buy a commodity ETF?

>invest in USO
please dont do this unless you know what USO actually is and what contango is.

2k/month living expenses means accepting 1 contract would allow you to live on the lamb for 10 months, assuming it's still -20 per barrel, and you cash it all out without getting flagged by the bank. screw someone over on 12 contracts, that's 10 years. just change towns every couple months and you'll be fine.

>18583090
Calls on storage. Esp. tankers, as they won't have to expend money, they'll just fucking float it.

Brent is not US oil. It's holding up better than US oil. Canada is kill.

Yeah it's just the WTI May contracts that are actually crashing.

Wtf. I didnt know this was a thing. Wtf

>you now need to sell the oil
To who? You can't just walk into a merchantile exchange and offer your barrels.
If you take delivery on an oil futures contract, it's a one-way transaction. And, unless you store it properly, it's worthless to a manufacturer, and no refinery will buy crude from some random who somehow managed to by physical barrels of crude (spoiler: it's almost impossible to buy crude in barrels at retail. Go find someone who will sell you barrels. I triple dog dare you.)
These conversations are pointless exercises in autism, because they're based on fantasy, by autists who have no clue how any of it works.

The contracts expire tomorrow, stupid. Stick to linkchain wish threads, they're more your wheelhouse.

Crude is not sold in barrels you fucking retard.

An EPA approved barrel would run $100-150 in bulk. So 1000 barrels - $100k easy to just get the barrels. Now, you have to find someone to put the oil IN the barrels, and since that's not something that's done, that's a custom order.

I'll stop there. Most of these threads are just shitposting, anyway.

>live on the lamb
The word your illiterate ass was fumbling for is "live on the LAM", stuttering prick.