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Thread: Negative Oil?

  1. #13

    Default Re: Negative Oil?

    Kelly Evans: Oil to -$100 a barrel?

    “Will we hit -$100 a barrel next month? Quite possibly,” [Paul Sankey] warns. “If you had a stinking barrel of oil in your back yard, would you pay someone $100 to take it away? Yes, and you would probably be relieved you were not charged $300. That is the situation we are in.”
    https://www.cnbc.com/2020/04/21/kell...-a-barrel.html
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  3. #14

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    Default Re: Negative Oil?

    Was just thinking that. Eventually oil will be used again, what happens when the producers can't get their production back?

    I'd like to think our SPR is being filled to capacity here.

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  5. #15

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    Default Re: Negative Oil?

    OIL. Shut down, liquidated. This was the ETN. ETN's don't even hold shares (like ETF's) and are just a giant shell game; a grand experiment concocted in 2008 or so when MBS, CDO's, SIV's were hugely popular amongst the scammers.

    Weatherweenie, you may have been right on USO. Total POS. No value to shareholders since inception.

    Note: The United States Oil ETF (USO) just announced that it has halting all new creations of shares. It could be the next to eventually shut down.
    https://www.thestreet.com/etffocus/t...and-liquidated

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  7. #16

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    Default Re: Negative Oil?

    Disregard USO going under. Reverse split. 1 to 8.

    https://www.streetinsider.com/Corpor.../16770302.html

    For laughs, take a look at a long term chart to see how many times it has been reverse split.

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  9. #17

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    Default Re: Negative Oil?

    June contract expires this afternoon. Doesn't look like it will be closing negative.

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