WTI OIL IS AT -$37

>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL

Attached: -$37 A BARREL WTI.jpg (2048x1536, 439.34K)

wait, so now i get paid 37 dollars and free oil?

YES YOU GET PAID $37,000 TO PICK UP 1000 BARRELS OF OIL

Holy shit this is the start a new Great Depression isn't it. We are so fucked.

I have no fucking clue what comes next, but for some reason having a good ammo inventory brings me some comfort

Theres probably like 1000 feet of ice back on the ice caps rn and every polar bear just had 10 kids

>"Buy" 1000000 barrels of oil
>Receive 37 million dollars plus 1000000 barrels of oil
>Dump oil down local storm drain
Does anyone see anything wrong with this plan?

Master degree in Economics.

Negative prices generally do not exist in most markets. Oil is different.

Oil has all sorts of crazy competition structures, oligopolistic, with a lot of "games" being played among producers. Also, the production chain of oil is complex and once you decide to produce it, it takes a while to interrupt the production. Also, storing it is expensive, since it is flammable, liquid, etc..

So, put all this togheter:

(1) No demand due to coronavirus
(2) Fracking production from US skyrocketed
(3) Price war between Russia and Saudi Arabia

And suddenly you got what you see today, a bunch of producers competing instead of cooperating in cartels, and NOWHERE to stock it. And you can't just throw it anywhere.
So they are literally paying who can store it.

I'll admit these negative prices are suprising nonetheless.

Climate change canceled.

Some one actually better explain this shit to me, you're telling me I'll get paid to take an oil barrel off of some one's inventory?

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Yes. Costs money to store oil that’s why it’s negative.

Already priced in

jail time

>Master degree in Economics
Can I have fries with the Big Mac?

I'm just putting the oil back where we found it. What's illegal about that?

I said it once I’ll say it again

Fuck Israel

tell it to the judge. better yet, fuck off back to r*ddit

I don't think I could even lift one barrel

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Give that man some oil

Lol we are so fucked now

They can pump it back up too. I'm creating jobs!!!

the cute disingenuous ironic shit doesn't play here

lurk moar, newfag

However much ammo you have at this point may not be enough. This is a complete reset of the entire economy.

does this means its time to biy oil stonks?

but what will happen with this (free) oil tomorrow with new contract? there is still no space to storage it right?

Wow multiple paragraphs to tell us what we already know. Maybe you should go back for your PhD to really bring something to the table next time.

>mfw when a single Ripple is worth more than a barrel of oil in may
i'm rich biatch

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Faggot boomer go fuck yourself

The June/July contracts will drop too.
Are you not entertained?

You're seriously a faggot boomer please kys

No because you have to store the oil you buy. Storage is extremely expensive and thus not worth it.

>brazilian economists

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We can lift it together, buhtanbro. Then we'll have a bbq

>negative prices
they are literally pumping oil back into the ground to turn it back into dinosaurs

pic related its Nancy Pelosi

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