OIL CRASHES. PRICE GOES NEGATIVE.

Petros2015

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Albion

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There's also an expected food shortage in the near future due to all the crop failures around the world. This and the oil crash makes me think of this Bible passage from the sixth chapter of the Book of Revelation:
But this isn't an oil shortage. It's a glut, so much so that we don't know where to store it all.

And although oil by the barrel is currently at less than a dollar on paper, the major oil companies that you would have expected to have suffered similarly huge losses per share of common stock have lost only modestly--a few cents per share for the most part.

How to understand all of this, i don't know.
 
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JustRachel

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How to understand all of this, i don't know.

I can't begin to comprehend it all either. I hope someone smarter than me can explain what impact this has. I did see the stock market plunging, but they react over things that really mean nothing.
 
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Albion

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I can't begin to comprehend it all either. I hope someone smarter than me can explain what impact this has. I did see the stock market plunging, but they react over things that really mean nothing.
I think I realize now what it means. The quoted figure is for coming sales of oil, contracts coming due. The one just ahead has bombed, but the others coming due later in the year look much different, although all were down today.
 
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