04-19-2020, 09:50 PM
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#5241
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Franchise Player
Join Date: Mar 2007
Location: Calgary
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Going to potentially go negative for a bit here, we'll see what happens to the June contract.
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04-19-2020, 10:48 PM
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#5243
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Franchise Player
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Quote:
Originally Posted by chedder
WCS looks like it was in the negative earlier today, like minus 78 cents. Right now sitting at 18 cents. Wow.
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Where can you find current pricing? The last I found was 2.89. thanks
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Peter12 "I'm no Trump fan but he is smarter than most if not everyone in this thread. ”
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04-19-2020, 10:59 PM
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#5244
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#1 Goaltender
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Quote:
Originally Posted by Johnny Makarov
Where can you find current pricing? The last I found was 2.89. thanks
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I use 'oil price live' app.
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The Following User Says Thank You to chedder For This Useful Post:
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04-19-2020, 11:21 PM
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#5245
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Franchise Player
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Quote:
Originally Posted by chedder
I use 'oil price live' app.
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-.57 cents right now down 119%....
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Peter12 "I'm no Trump fan but he is smarter than most if not everyone in this thread. ”
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04-20-2020, 10:30 AM
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#5246
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Fearmongerer
Join Date: Oct 2001
Location: Wondering when # became hashtag and not a number sign.
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__________________
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04-20-2020, 10:33 AM
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#5247
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Franchise Player
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Quote:
Originally Posted by transplant99
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That tweet is already 70 cents behind.
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Quote:
Originally Posted by MisterJoji
Johnny eats garbage and isn’t 100% committed.
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04-20-2020, 10:46 AM
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#5248
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Fearmongerer
Join Date: Oct 2001
Location: Wondering when # became hashtag and not a number sign.
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660 NEWS Calgary Retweeted
Richard Southern
@richard680news
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7m
The Canadian price for oil, Western Canadian select, is well into negative territory now at $-0.20 a barrel. US oil crashes to $8.70 a barrel.
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04-20-2020, 11:46 AM
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#5250
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wins 10 internets
Join Date: Feb 2006
Location: slightly to the left
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Well on the plus side, we can stop caring about TMX and Keystone. With the amout of oil glut that's going to be left over after the pandemic the oil industry is going to be irrelevant for the forseeable future, pipelines or not
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04-20-2020, 11:46 AM
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#5251
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Franchise Player
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I was reading last night that it costs $250k a day to rent a Supertanker that holds 2million barrels.
and holy crap is that right? WTI at $1.30 right now.
__________________
Peter12 "I'm no Trump fan but he is smarter than most if not everyone in this thread. ”
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04-20-2020, 11:47 AM
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#5252
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CP Gamemaster
Join Date: Feb 2010
Location: The Gary
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Quote:
Originally Posted by skudr248
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I'm a bit confused...so this site shows oil at $1.20 a barrel, but the June contract shows $21.87. Does that mean tomorrow all the news stories are going to talk about having a massive surge?
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04-20-2020, 11:47 AM
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#5253
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wins 10 internets
Join Date: Feb 2006
Location: slightly to the left
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Quote:
Originally Posted by Johnny Makarov
I was reading last night that it costs $250k a day to rent a Supertanker that holds 2million barrels.
and holy crap is that right? WTI at $1.30 right now.
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$165k per day for the biggest tankers
https://www.cbc.ca/news/business/oil...nday-1.5538048
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04-20-2020, 11:52 AM
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#5254
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evil of fart
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Quote:
Originally Posted by Hemi-Cuda
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IDK, that doesn't seem outrageously expensive to me for rent on a giant tanker.
Obviously sucks with oil being valueless, but I would have thought those things cost more.
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04-20-2020, 11:55 AM
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#5255
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Franchise Player
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Quote:
Originally Posted by Sliver
IDK, that doesn't seem outrageously expensive to me for rent on a giant tanker.
Obviously sucks with oil being valueless, but I would have thought those things cost more.
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You are going to have billions of barrels at sea. Eco-terrorist's buffet.
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Peter12 "I'm no Trump fan but he is smarter than most if not everyone in this thread. ”
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04-20-2020, 11:58 AM
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#5256
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First Line Centre
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Quote:
Originally Posted by Mazrim
I'm a bit confused...so this site shows oil at $1.20 a barrel, but the June contract shows $21.87. Does that mean tomorrow all the news stories are going to talk about having a massive surge?
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Yes. No one wants May barrels. But they're optimistic about June barrels. May 19 will be the next interesting date where. WTI could be close to 0.
Sent from my Nexus 6P using Tapatalk
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04-20-2020, 11:59 AM
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#5257
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First Line Centre
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Quote:
Originally Posted by Sliver
IDK, that doesn't seem outrageously expensive to me for rent on a giant tanker.
Obviously sucks with oil being valueless, but I would have thought those things cost more.
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Supertankers have a capacity of ~2mm barrels.
2mm barrels of "free" oil can be held for a long time, waiting for oil to return to even what would normally be considered a "low" price.
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04-20-2020, 12:04 PM
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#5258
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First Line Centre
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I'm not understanding how the price of oil (WTI was at $1.00 USD/bbl (not a typo) as of 1151am today) plummeting is NOT leading to a huge market crash today? A bunch of producers and midstreamers in Calgary are still seeing their stock price supported or even going up at the same time as the oil bottoming out. Anyone?
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04-20-2020, 12:12 PM
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#5259
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First Line Centre
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Likely they have a good hedging strategy in place and are selling for higher Companies that don’t have a hedging strategy aren’t going to be doing so well.
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04-20-2020, 12:23 PM
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#5260
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First Line Centre
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Quote:
Originally Posted by RichieRich
I'm not understanding how the price of oil (WTI was at $1.00 USD/bbl (not a typo) as of 1151am today) plummeting is NOT leading to a huge market crash today? A bunch of producers and midstreamers in Calgary are still seeing their stock price supported or even going up at the same time as the oil bottoming out. Anyone?
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This is blowing my little mind.
Just hit NEGATIVE $1.94 USD/bbl.
Meaning "they" are paying people to take the oil away
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