General Discussion

Turbineguy

(37,285 posts)

38. There are two markets

Mon Apr 20, 2020, 02:42 PM

Apr 2020

one market is for people who buy and sell oil (oil producers and oil consumers). Another market is for people who buy and sell contracts. In the second case people buy contacts to sell later at a higher price. They are not buying oil. The worst thing that could happen is for them to get the actual oil. Also the worst thing for them is to have to deliver that oil.

When the silver market collapsed my friend had bought a pile of silver and for delivery. The seller could not deliver and had to buy the contract back.

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Crude Oil has gone NEGATIVE! [View all] Roland99 Apr 2020 OP

The guy at the station offered me $10 if I filled my tank! n/t zackymilly Apr 2020 #1

lol Roland99 Apr 2020 #3

$1.24 here. n/t zackymilly Apr 2020 #6

This message was self-deleted by its author ahoysrcsm Apr 2020 #60

How much of that is taxes? N/T forthemiddle Apr 2020 #45

+1 KayF Apr 2020 #12

Any tweets from Don the winner Con? malaise Apr 2020 #2

Marketsm@ 2:20 elleng Apr 2020 #4

Thanks for looking that up for me... lame54 Apr 2020 #5

It's nice without all the chem trails. zackymilly Apr 2020 #8

Isn't it? Roland99 Apr 2020 #9

Yes it is! nt. Akacia Apr 2020 #64

Time to call those shady waste disposal people exboyfil Apr 2020 #7

Trump gets played by the Saudis and Russians. DrToast Apr 2020 #10

Trying to rent or buy.... OneBlueDotBama Apr 2020 #11

$-35.93 SouthernCal_Dem Apr 2020 #13

Why haven't they shut down trading? Roland99 Apr 2020 #15

I don't think they do that for oil SouthernCal_Dem Apr 2020 #22

Is that per bbl or the daily loss from yesterday's close? Roland99 Apr 2020 #24

Now I'm seeing $-25.11 SouthernCal_Dem Apr 2020 #28

Here's a link to CME quotes SouthernCal_Dem Apr 2020 #36

Thanks Roland99 Apr 2020 #46

-8.61/bbl!! Roland99 Apr 2020 #14

Now minus ten & change OneBlueDotBama Apr 2020 #16

All because a Dem *hoax shut down the nation Roland99 Apr 2020 #18

Sounds to me like Texas may be in play for Biden. SoonerPride Apr 2020 #17

If nothing else, Wednesdays Apr 2020 #67

Contract traders can't deliver Turbineguy Apr 2020 #19

Whoa .. did silver go negative because treasuries were putting out so much? uponit7771 Apr 2020 #26

There are two markets Turbineguy Apr 2020 #38

Was that when the Hunt brothers were trying to corner the market? Adsos Letter Apr 2020 #47

Yes Turbineguy Apr 2020 #53

? Reminds me of Eddie Murphy movie where he was made rich for a dollar uponit7771 Apr 2020 #57

"Get back in there and sell, sell!" Adsos Letter Apr 2020 #58

Trading Places Roland99 Apr 2020 #65

What????? Newest Reality Apr 2020 #20

Does that mean they'll be giving it away? Renew Deal Apr 2020 #21

Storage sites are full Roland99 Apr 2020 #23

Even better they are paying people to take the pure oil per barrel uponit7771 Apr 2020 #27

K&R, I'm trying to figure out how to short June contracts right now uponit7771 Apr 2020 #25

Do I hear minus 30? anyone? OneBlueDotBama Apr 2020 #29

do I hear minus $40? OneBlueDotBama Apr 2020 #34

Interesting times (nt) Recursion Apr 2020 #30

Whoa! Buckeye_Democrat Apr 2020 #31

-39.14/bbl!!!!! Roland99 Apr 2020 #32

NYT explains how this is even possible Mike 03 Apr 2020 #33

Trump could fill his tower C_U_L8R Apr 2020 #41

Awesome, in for 10 barrels. Wonder if my wife will mind if I store them in our spare bedroom... cbdo2007 Apr 2020 #35

Ask the local rec dept.... OneBlueDotBama Apr 2020 #39

OMFG BumRushDaShow Apr 2020 #37

That graph is incredible. OAITW r.2.0 Apr 2020 #48

Brent was still over $25/bbl BumRushDaShow Apr 2020 #51

We should be adding to our strategic reserve right now....... lastlib Apr 2020 #40

we are actually doing that, but the SPR is tiny compared to the glut we have right now Amishman Apr 2020 #55

Ok. Starting a GoFundMe. Who wants to buy oil fields with me! Roland99 Apr 2020 #42

Dennis Gartman on Bloomberg just used the D word. roamer65 Apr 2020 #43

U.S. oil's May contract just marked history, plunging about 300% BumRushDaShow Apr 2020 #44

Slowly creeping back up again BumRushDaShow Apr 2020 #49

Yeah. But now stocks heading down Roland99 Apr 2020 #52

I've been watching gold too BumRushDaShow Apr 2020 #54

If one is going to buy on the dip, it doesn't seem like it gets any dippier than it is now Submariner Apr 2020 #50

Now back down to -$30.40/bbl BumRushDaShow Apr 2020 #56

Had bottomed out again at -$37.45 and creeping back up again BumRushDaShow Apr 2020 #59

The Gang Solves the Gas Crisis...nt SidDithers Apr 2020 #61

As of 3:43 pm EDT BumRushDaShow Apr 2020 #62

Insane Roland99 Apr 2020 #63

From what I just heard on the local news radio station's business report BumRushDaShow Apr 2020 #66