What oil tanker stocks to buy so I can get rich?

NEED ADVICE NOW!!!

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stocks will drop soon. They lag behind real price. DO NOT BUY until they drop. You will lose money if you do.

Above ground supply is massively increasing day over day... tankers will do just fine

why do they lag behind in real price?

Made some quick money today trading FRO but now kinda wondering whether I should have sold or not.

how did u find this company? did u just google for oil tanker companies? why did u choose FRO? curious to learn

Because they own a massive VLCC fleet user.

>They lag behind real price
Not this time.
Until production stops, companies will go the extra mile to get oil from one place to the other in search on storage.

Even if they stop producing, tankers can be used as storage and they will charge every fucking day the oil in on board those tankers.

just one fleet? dont other companies have more of them?

>how did u find this company?
Oil tankers have been discussed here since the whole OPEC debacle.

Honestly if you're worried, take a piece of it off, and put on a trailing stop.

I found out about it by hanging out on /biz. It's the largest tanker company, so makes sense I guess.

so if theres no place in USA to store oil, why dont they just store it in europe or some shit?

I might do that. Bought in at $9.88 and then sold at around $10.40 at the little dip that happened before it went higher today. Tired of getting fucked by pump and dumps, which is why I sold. After hours shows it going higher.

This happening globally.

I thought only american oil just crashed? how is this globally? sorry if brainlet

There's an oversupply of oil at the moment because of Corona chan.
No one is buying it and stockpiles globally are full. At the same time it is cheaper to keep oil pumping and sell at a loss than it is to shut down wells and refineries. They're paying shipowners to park their boats at port with their holds full of oil. $350,000 a day for some ships.
At the same time US shale is under pressure and produce at a loss if oil is under $50 so they're fucked.

>US shale

Kinda wondering if US shale is FUBARed at this point.

>no where to put all this oil!!!
everyone thinks this is what's going on, but it isn't

>There's an oversupply of oil at the moment because of Corona chan.
Less demand, same supply, makes sense

>No one is buying it and stockpiles globally are full.
If they're all full globally, how come only american oil crashes to negative? Wouldn't we see brent oil going low to a few cents territory aswell?

>At the same time it is cheaper to keep oil pumping and sell at a loss than it is to shut down wells and refineries.
I read somewhere that it's expensive to shut off the oil pumping, no idea why (do you know why?)

>They're paying shipowners to park their boats at port with their holds full of oil. $350,000 a day for some ships.
At the same time US shale is under pressure and produce at a loss if oil is under $50 so they're fucked.
So if I had a ship I can go park there and earn 350000 a day from it?

What's really going on then?

I don't think we have that much space. A massive investment in Romania could work, as many fields are not used at all in agriculture.

SXL
Sunoco Logistics Partners LP

Probably. They can shut taps there easily enough though so they'll go bankrupt and get bought out by bigger companies.
>If they're all full globally, how come only american oil crashes to negative? Wouldn't we see brent oil going low to a few cents territory aswell?
Wish I could give you a better answer but the price isn't technically negative. Those were futures that are expiring tomorrow. Basically traders had to dump their bags because no one wants to buy US oil and oil is fucking shitty to hold on to for a long time.
>I read somewhere that it's expensive to shut off the oil pumping, no idea why (do you know why?)
2nd hand information so take it with a pinch of salt. It's an incredibly technical and expensive process so Saudis would rather keep pumping. Also helps kill off competition.
>So if I had a ship I can go park there and earn 350000 a day from it?
Yup. Anyone with large storage are making bank. They can charge premiums to hold onto that shit. Fortunes have been made.

So i dropped a bunch of money into USO call stock options today that expire this Friday. I’m a noob at this, am I going to get fucked?

Jokes on you smart people bought in a week ago. There have been several threads about it for days

Someone explain why oil tanker prices are up ? Why would they be transporting considerably more oil when no one is using it? I’d understand oil storage stocks going up more.

Oil tankers are being "converted" to floating storage. The daily rate to store is 1000% higher than standard freight rates.

Ah ok cool thanks bro

The first step to getting rich is understanding the rich.

Rule #1 You dont use your own money. Quit spending your own money.

I’ve been shilling for FRO on Yas Forums for 3 weeks now
You should have hold. FRO are going to make ABSOLUTE BANK until the US starts to open up again. Then they will only make a great amount of money. Not a godly amount.
Also... why don’t you want those sweet dividends?
You sold way too early bro. FRO is going straight to $20