WTI hit (-)35 bucks today....

[WP29440SE]

everything I own has a full tank , even the lawn mower. I'm hardly using any. if only I had a 5,000 gallon storage tank to fill,,,,

 

[Richard Cranium]

From what I'm understanding, we're running out of places to store it...

Been that way for decades....

 

[Ranger16]

This is just a sign of things to come when electric cars become main stream.

 

[Pikser]

Over production and under consumption. But the main reason for a negative price is Hedging. I have 90% of my production hedged at 52.15 per barrel with about 5 Months left on my hedge. The company that did the hedge has to take it no matter what. So they have a choice to sale the crude at a lose or pay me an agreed amount to stop production. At the moment paying me would cost them more than selling on the open market for a negative amount.

 

[Hey-O]

How it was, is how it will be once this corona virus goes away and everyone is back to work and on the road again. This market is nuts!! I've been buying twice a week since it was 19000. Talk about uncharted waters.

 

[Cranky]

This is just a sign of things to come when electric cars become main stream.

Thinking a lot of us will be gone before that happens.....

How it was, is how it will be once this corona virus goes away and everyone is back to work and on the road again. This market is nuts!! I've been buying twice a week since it was 19000. Talk about uncharted waters.

I added 100 shares to my meager account but the dividend is good so long as they don't lower it or stop it all together.

 

[mopar 3 B]

They have no where left to hoard and store.. Saudi's were actually dumping it like milk a few weeks ago. Shut the forking pumps off.. stop sucking it up, it'll be there later just like any natural resourse that plummets in value.

Shut the pumps off and stop sucking it up and you are almost guaranteed a worthless hole. It not something that can be stopped and started by just turning a spigot. How big a hole do we still have in Texas to top off the federal reserves?
It maybe Saudi oil but I have been told by some Saudi oil boys that they don't own the rigs that pump the oil.

 

[GetX'd]

Thinking a lot of us will be gone before that happens.....

I added 100 shares to my meager account but the dividend is good so long as they don't lower it or stop it all together.

Added 100 shares of what equity?

 

[Cranky]

Added 100 shares of what equity?

PSEC

 

[YY1]

liquor and grocery are up

 

[barnfind]

At 40 to 45 per barrel its cheaper to keep it in the ground is my understanding. Cutting off the the power to the pump is easy to do. No, a barrel is not 55 gallons in oil talk. If the well is not producing , companies need less manpower, trucks, etc. to to their sites. If it's not utilized, and storage is full, shutting in IS the only option. Some companies will stay open to meet limited demand, others will have no choice. The law of supply and demand.
I' respectfully disagree that once a well is shut in, it will no longer produce. Here in the Bakken a well, whether submersible or pump jack can be shut of and put back at will and produce. A free flowing well is a different story.
Alot of companies here have laid most of the worker off, many have sold to large companies, or filed bankruptcy.

 

[MarPar]

PSEC

HOLY DIV!!!

 

[GetX'd]

PSEC

That’s quite a dividend.

 

[Hey-O]

Thinking a lot of us will be gone before that happens.....

I added 100 shares to my meager account but the dividend is good so long as they don't lower it or stop it all together.

Never use the word meager, saving is the goal, not how much!! Good for you!!

 

[YY1]

I have several that were 8 and 9 percenters that are now 16 to 19.5%

...because their price has halved.

 

[YY1]

All the analysts say sell/avoid on that one, even Market Edge which is almost always the opposite of everyone else. Their EPS is not great at .3.

IMO a dividend cut will be forthcoming.

However, the "if they get back to where they were" factor works in your favor, it's on sale.

 

[Budnicks]

..and gas just jumped 17 cents a litre (50 cents US/US gallon) here this afternoon..

it's down almost or more than a dollar a gallon here
in some places

I saw $2.35 for cheapo 89 oct. reg. swill
that's the cheapest it's been here in years

so it's just regional

a month ago it was like $3.79

we have almost a dollar a gallon in bs gas/state taxes too
where the people in power don't use it for infrastructure
like the taxes were intended to be for

 

[1 MEAN66]

WTI is West Texas Intermediate. Lot easier to just say WTI lol

Thank you. Jerry Horn or in code for those that read it: TYJH