WTI just hit $0.01 on beyond extreme volatility.
CME saying they will allow, if it happens, any contract to go negative.
It has happened before, but never for oil.
Past negative contracts have been in potatoes (potato famine?) and onions hundred or more years ago.
I personally will look to open a futures account.
Food commodities will go south too, as farmers see demand implode from sit-down restaurants.
Looking to buy wheat futures about 2-4 years out.
This topic needs its own thread from Great Recession 2.0.
Well it’s when everything happens at once.
Honestly, there is probably near zero big empty reservoirs left to store oil. So, it’s like the oil in the pipeline getting clogged (no empty place to put it) and now getting clogged up like a toilet or sink and getting backed up (reversal of prices). In the markets, it means prices tank, and it is probably has bankrupted a severe amount of big and small traders today.
Maybe that’s what the stay-at-homer supporters want. Zero carbon emissions. Let’s go back to horse 'n buggy.
U.S., Canada, Venezuela, Iraq, KSA, Iran, UK, Norway, Russia.
Been talks about MAY contract ending in minus for the last week and the volumes where small, so professional traders did see it coming.
You think it’s better for the oil price if we go outside and spread the virus?
If you think there is no demand for oil after the CCPvirus is gone it is safe to assume so.
I think the oil producing countries will be so desperate to see the oil price raise that we in the near future will get something like a OPEC++ where US is included. Because all the oil storages are more or less full now I can’t see any quick fix.
Hard to know how to make the most money by investing right now. I’m jumping in soon, I rather start with a small loss joining the market down then getting too late into the party.
Honestly, you can make a lot of money during times of volatility. In 3 weeks, my portfolio grew by 9%. Was higher as Exxon performed well for me before I had to sell it off.
But there’s a lot of risk right now. You have to watch the market and scan the news hourly or you won’t do well. I have nothing to do but sit and watch all day in lockdown here in Italy. I read and read. Watch all day.
But maybe I’m lucky. I said Peloton was my winner and it has been. Pure speculation on my part based on my experiences.
looks ok.
I’d change to Dow Jones as fewer companies and that is what global investors buy, not S&P500.
Same with the Fed. It’ll buy the Dow. It’s a psychological index, because all newscasts talk about how much the Dow went up, not the S&P500.
Just my opinion.
