Am I dreaming? Crude oil $0.25

Discussion in 'Stocks & Derivatives' started by slavaja, Apr 20, 2020.

  1. slavaja

    slavaja Well-Known Member Silver Stacker

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    Crude oil at $0.25?
     
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  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I didn't believe you
    But kitco agrees
    Oil is negative
    Screenshot_2020-04-21-05-56-00-777_com.kitco.goldlive.jpg
     
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  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    It now costs more to own oil than it is worth
     
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  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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  6. sterling-nz

    sterling-nz Well-Known Member

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    LOL.
    He was doing ok until the gold comment at the end.
    The other problem i have with what he is saying is that he claims this is strictly a "paper" disconnect.
    Well clearly it is not just a paper disconnect because this is real product .
    "And yes this could happen with gold" LOLOLOLOLOL
     
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  7. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    I can't wait to see what the 2 Greg's say. :rolleyes::D
     
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  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I'm not sure what you mean by your post.
    He is saying a paper disconnect could and has occured with gold. We've seen it.
    Whilst oil is also a physical product, the negative futures is not the result of producers paying people to take it away, but speculators who were unprepared to take delivery now having to suffer a loss.

    I can absolutely imagine a time where paper gold pushes down the futures price for metals and morons sell thinking to cut their losses. Why would they not attempt this in order to concentrate physical gold in the hands of those who understand the market?
     

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