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Oil under $11/barrel

CaptHenwayCaptHenway Posts: 33,622 ✭✭✭✭✭
in Precious Metals

What will this do to metals?

Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Author of "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
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Comments

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    nothing so far.

    are we having fun yet?

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Have not seen any real movement in metals charts yet.... though the market for bullion seems pretty warm right now....Cheers, RickO

  • MorganMan94MorganMan94 Posts: 1,331 ✭✭✭✭✭

    Only for May contracts and today is the last day of trading, June is 22.78 as I type.

  • stevekstevek Posts: 31,685 ✭✭✭✭✭

    I recall reading a short while back some writer saying that it's conceivable that oil could actually fall into a negative value. Suppliers actually paying buyers to load up their ships and take it off their hands.

    Yes it seemed a bit preposterous at the time. However in this strange climate, it's conceivable that almost anything could be possible.

    How this would affect metal prices i do not know, and i doubt if anyone else truly does either. For those who predict it right, it would simply be a lucky guess for the most part.

  • CaptHenwayCaptHenway Posts: 33,622 ✭✭✭✭✭

    @MorganMan94 said:
    Only for May contracts and today is the last day of trading, June is 22.78 as I type.

    Thanks. That would explain it. Nobody wants to take delivery.

    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Author of "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • blitzdudeblitzdude Posts: 7,558 ✭✭✭✭✭

    All I know is I can see farther and breathe easier when I step outside. All this lack of oil consumption and air pollution is working wonders for Mother Earth.

    I must also confess it is nice filling up the tank at sub $1.00 a gallon. lol

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • bestmrbestmr Posts: 1,810 ✭✭✭

    All I know is I feel like I should be buying a bunch for long term.

    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • DrBusterDrBuster Posts: 5,443 ✭✭✭✭✭

    How'd you get it for under a buck blitz, rewards points?? Lowest around me is in the $1.30s, and the no ethanol I put in the hemi is ~$2.50..

  • bestmrbestmr Posts: 1,810 ✭✭✭

    Lucky! It’s still $2.20ish here in tax-me-plenty Washington.

    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • blitzdudeblitzdude Posts: 7,558 ✭✭✭✭✭

    @DrBuster said:
    How'd you get it for under a buck blitz, rewards points?? Lowest around me is in the $1.30s, and the no ethanol I put in the hemi is ~$2.50..

    Had to exit the commonwealth across the boarder into Warren. Oh

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub 10 now

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub 9 now

  • Namvet69Namvet69 Posts: 9,398 ✭✭✭✭✭

    $1.98 in central NJ. Filled my truck for 20 bucks! Peace Roy

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub-8

  • CaptHenwayCaptHenway Posts: 33,622 ✭✭✭✭✭

    Anybody holding a May contact is so screwed!

    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Author of "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub 5

  • MilesWaitsMilesWaits Posts: 5,557 ✭✭✭✭✭

    Ouch. The Clampetts are poor again.

    Now riding the swell in PM's and surf.
  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub 4

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub 3

  • stevekstevek Posts: 31,685 ✭✭✭✭✭

    Crude Oil
    5.43
    -12.84 (-70.28%)

    This is astonishing, and i don't astonish very easily.

  • stevekstevek Posts: 31,685 ✭✭✭✭✭
    edited April 20, 2020 10:32AM

    Perhaps those in countries which are so dependent on oil for survival, and their country is now in a state of imminent financial collapse, are going to buy as much gold and silver as they can?

    That is if they have any money left.

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub 2

  • stevekstevek Posts: 31,685 ✭✭✭✭✭

    @MsMorrisine said:
    sub 2

    Crude Oil
    2.6100
    -15.6600(-85.71%)

    In a blink of an eye from 5 to 2.

    Looks like that SOB writer i mentioned earlier may turn out to be right. Realistically he's already right predicting it would go so low.

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭
    edited April 20, 2020 10:45AM

    over $2.50 day low 1.02 lowest level ever

  • stevekstevek Posts: 31,685 ✭✭✭✭✭

    I wouldn't be walking under any oil company office buildings right now - may be some falling objects. :/

  • stevekstevek Posts: 31,685 ✭✭✭✭✭

    Crude Oil
    1.2500
    -17.0200(-93.16%)

    Is this a Twilight Zone episode?

  • MeltdownMeltdown Posts: 9,172 ✭✭✭✭✭

    Crazy! What happens here in the U.S. if this sticks for any length of time? I know we are largely producing our own right now.

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭
    edited April 20, 2020 10:54AM

    0.90 - day low

    gasoline 0.7059 for a gallon

  • MilesWaitsMilesWaits Posts: 5,557 ✭✭✭✭✭

    WTH? Anomaly? What a time I am living in.
    Gold shines.

    Now riding the swell in PM's and surf.
  • coinpalicecoinpalice Posts: 2,468 ✭✭✭✭✭

    gas will cost less then what I paid when I was 16

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭
    edited April 20, 2020 11:09AM

    new low negative 24 cents

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$1

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$3

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$4

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$6

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$7

  • stevekstevek Posts: 31,685 ✭✭✭✭✭

    Pretty cool for a clad quarter, i could now buy a barrel of oil.

    i'll have to see if Walmart is selling any.

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$8

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    sub -$11

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭
    edited April 20, 2020 11:25AM

    sub -$13

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭
    edited April 20, 2020 11:27AM

    sub -$28

  • ashelandasheland Posts: 24,322 ✭✭✭✭✭

    I nailed it at a dime!

    My YouTube Channel

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    new day low -$40.32
    trading now at -$37

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭

    trading halted at -$35.20

  • MsMorrisineMsMorrisine Posts: 38,601 ✭✭✭✭✭
    edited April 20, 2020 12:52PM

    trading halted at -$36.76

    new posts to end here, see above

  • blitzdudeblitzdude Posts: 7,558 ✭✭✭✭✭

    Take that big oil, now you gonna be paying me to use gasoline. lol

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • IcollecteverythingIcollecteverything Posts: 1,033 ✭✭✭

    If we all put in a few bucks we could buy a super tanker full of dat crude stuff.

    Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.

  • RedneckHBRedneckHB Posts: 20,132 ✭✭✭✭✭

    That was fun!!

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • HigashiyamaHigashiyama Posts: 2,320 ✭✭✭✭✭

    And we thought negative interest rates were weird.

    Higashiyama
  • CaptHenwayCaptHenway Posts: 33,622 ✭✭✭✭✭

    It’s ankle grabbing time!!!

    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Author of "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
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