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.
Kelly Evans: Oil to -$100 a barrel?
https://www.cnbc.com/2020/04/21/kell...-a-barrel.html“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.”
Tom
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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.
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.
https://www.thestreet.com/etffocus/t...and-liquidatedNote: 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.
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.
June contract expires this afternoon. Doesn't look like it will be closing negative.
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