Lets make a Jew test.
"News" claims that oil price fell to negative yesterday. It was "sold" for "-37$", They say.
Now simple question for you. Do YOU personally believe, that the price of ANY commodity can "fall" to negative value?
(If you do believe it can, you have been correctly brainwashed by Them)
>what's the difference between supply and futures
The "price" of oil is not negative.
so the Dow Jones recovery in last couple of weeks is just a fraud?
so theyre paying us 37 dollars to take a barrel of oil? I'll take that deal.
Are you protecting the "News"?
The "News" said:
>US oil prices turn negative as demand dries up
bbc.com
>Oil prices turned negative. Hundreds of US oil companies could go bankrupt
edition.cnn.com
"YOU" are now talking about something of your own, which is entirely irrelevant to the topic.
It's the futures price. It's a option market. Media doesn't understand the financial markets the same you don't. Do your research, I know you can't play COD then, but you must
The (((journalists))) don't know what they talk about, most news said options on a sidenote, now fuck off plz
Yes.
This is the response to hyperinflation, they are way over capacity and literally every economy in the world is at a functional halt. They are paying to people to take oil because they are over capacity everywhere, no where to store it and there is still pressure in the lines. What they are doing right now is going around and turning off all the taps to artificially slow the supply. China isn’t making anything, even if they were making stuff no one here is buying.
If you have the capacity to store oil right now you could make a killing and then just sell it back to them when the war starts.
Not a single barrel of oil in the history of humanity has been sold under 0$.
Actually it is fundamentally impossible to "sell" something for negative value. Then you just keep it to yourself. Talking about storage costs is of course laughably dumb. It doesn't cost anything to store a barrel of oil, lets say 5$ a year per barrel.
We are discussing what the News said, not what is the """truth""". Truth doesn't concern us, what concerns us is what the News says.
>Do YOU personally believe, that the price of ANY commodity can "fall" to negative value?
Of course and it's not complicated at all.
It means that the cost to store it has outpaced the profit of it owning, and not enough people are lining up to buy it to offset the cost.
>hyperinflaction
>every economy in the world is at a functional halt
I can buy bread from the store. Farmer made the grain. Baker made the bread. Your argument has been disproven.
Your wrong it isn’t about costing them the money to store it, it is literally no one has the capacity to store it, at this point it is like garbage collection they need to put it somewhere.
They will dump it in the ocean and kill us all before they cap the wells, it's just too expensive
>It doesn't cost anything to store a barrel of oil,
That's ridiculous.
Are you shipping anything across the planet? In an airplane, by truck, by boat or train?
The yards are dead. The air craft aren’t doing. Local economies will be fine but the big players who actually buy oil in the millions of barrels per day can’t move it fast enough.
Why can't I buy a barrel of oil?
If it's cheap enough I'll buy 200 and store them here in my garden.
Sell it for profit later.
For some reason I can't.
>We're gonna replenish America's strategic stockpile with 78 million barrels of oil, and we're gonna get em at the right price, folks.
promises kept
That's all there is to it.
jokes on you I don't even pay attention to Lugenpresse
Also you are wrong about it not costing money, this is the cost they will give you to take it because they haven’t got all the pumps shut off. You don’t “buy” it and put it in your garden you buy it and put it in massive metal bins in refinery rows covering hundreds of acres.
Because they don’t sell it to people in barrels, they sell it from pipe to container.
Lets say 5$ a year until we get a better proof.
Why are you under the impression that airplanes, trucks, boats, and trains arent moving? That houses arent being heated? That electricity isnt being generated? That chemical products arent being done? Oh yes, because of the virus right ? Because YOU are inside your home, it must be that everyone on the planet is too, right ?
>t. Retarded finland poster who cant into abstractions
Conniving bastards keeping small traders down.
>You are just dumb for not understanding Their economic theory
Good goyim. They will surely reward you for your obedience.
It means that on the evening of April 20 2020 oil wasn't worth anything and was a liability.
Free market prices are *that* precise.
You think that's bad? Comex trades contracts on 400 oz bars of gold that dont physically exist
zerohedge.com
Oil prices go negative because storage is at capacity and shutting down oil operations costs more in the long term than simply selling at a loss. In other words yes Crude can sell at a loss but if you're buying oil it doesn't magically show up at your door step because you bought some. There's an overhead cost of bringing it to market and that's why oil producers were temporarily paying others to take it. In other words YES commodities can go negative, but obviously not for long or companies start going out of business.
They know damned well what they're talking about, they intentionally lie or mis-speak as a way of manipulating people.
Fuck you, psychopath apologist.
There is a fine word for these kinds of activities. Its called "scam". Probably the second oldest profession in the entire world. Making any kind of scientific conclusions about scams ? Thinking a scam is true because "other" people use them ? Ah, the trademarks of scamming.
It's like farmers dumping milk into the streets because they can't sell or store it.
Just that dumping oil into the street is not an option. So you just pay someone to take it.
>(If you do believe it can, you have been correctly brainwashed by Them)
LISTEN AND BELIEVE ME, GOYIM! PAY NO ATTENTION TO BASIC ECONOMIC PRINCIPLES!