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Re: June oil futures contract loses half its value as crude continues unprecedented sell-off 

By: micro in POPE 5 | Recommend this post (1)
Tue, 21 Apr 20 10:30 PM | 35 view(s)
Boardmark this board | Pope 5 		Msg. 59487 of 62138
(This msg. is a reply to 59480 by capt_nemo)
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Here is what has bugged me about the price of oil for decades.

It is ALL driven by people speculating on it on a market instead of it being any other commodity for sale w3here it costs a set price to fill a abrrel and then that gets sold at a pecentage of profit..

In the cases of pricing the pricing is determioned by any globalist who wants to raise the prices by simply bidding it up and up when that has nothingto do with how much it cost to pump and fill 40 gallons of it in a barrel...

I will never understand that, so please don;t bother.

I am HAPPY to see people getting their arse handed to them for a change instead of us paying outrageous pricves for gasoline because we have all been a captive market at teh whims of those driving up and up the price for a barrel of oil....

I am GLAD for one....


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The above is a reply to the following message:
June oil futures contract loses half its value as crude continues unprecedented sell-off
By: capt_nemo in POPE 5
Tue, 21 Apr 20 8:55 PM 		Msg. 59480 of 62138

http://www.cnbc.com/2020/04/20/june-oil-futures-rebound-3percent-but-may-contract-is-still-trading-at-negative-price.html

The June contract is more actively traded and therefore a better indication of where traders believe oil is headed. It was 66% lower at $6.90, after closing above the $20 mark on Monday.

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