Oil prices turn negative First time ever

[TheMadMullah]

The oil prices have turned negative for the First time in history today Today, #WTI crashed from an open of $17.85/ barrel to a low of -$40.32/ barrel.

A see an opportunity to invest in the oil stock markets and industry when people are panick selling their investments.

 

[Awdalia Rising]

Paying money to have oil taken off their hands

Where is zoom-alia? Free oil niggas!

 

[Yahya]

Paying money to have oil taken off their hands

Where is zoom-alia? Free oil niggas!

This means they gonna need to liberate more oil when their runs out or is made useless.

This is not good news.

 

[Teflon]

For the first time in history oil is now worthless as demand has fell sharply due to the outbreak. Nobody could imagine something like oil would become worthless since theres always a constant demand for it. Something so sought after is now worthless. Now oil companies have so many worthless barrels of oil cause of no demand.

This year is truly the worst year for business, industries and especially the aviation industry which has been heavily affected by this pandemic


2020 is a weird year

 

[Awdalia Rising]

This means they gonna need to liberate more oil when their runs out or is made useless.

This is not good news.

definitely very very bad. We might be in for a Great Depression like the 1920s but this could be a lot worse

 

[Yahya]

definitely very very bad. We might be in for a Great Depression like the 1920s but this could be a lot worse

I don't really care since i'm a student, but i will when i leave uni and have no job.

Either way, i'm planning business elsewhere, hell i'm even trying other avenues to secure an income.

 

[TheMadMullah]

For the first time in history oil is now worthless as demand has fell sharply due to the outbreak. Nobody could imagine something like oil would become worthless since theres always a constant demand for it. Something so sought after is now worthless. Now oil companies have so many worthless barrels of oil cause of no demand.

This year is truly the worst year for business, industries and especially the aviation industry which has been heavily affected by this pandemic


2020 is a weird year


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It is not yet worth less its just may oil futures that have collapsed but for June it is still trading at $27 a barrel

but it is a just of time before June will drop to negative too due to demand and surge in supply