/biz/ - Business & Finance

>>18574653
long $0 = infinite profit? Pepega

>>18574653

I bought a million barrels I have them stacked up in my backyard

>>18574653
you already did a x50 if you did. kek

i'm waiting to buy at -2

>>18574653
are there any good uses of oil that are now economical? slip and slides?

>>18574653

>>18574653
EVERY LONG HAS BEEN LIQUIDATED.

This shit it's imposible, all bots around the world are crashing

my sides are in critical condition

HOW DO I BUY US OIL IN CANADA
>HOW DO I BUY US OIL IN CANADA
HOW DO I BUY US OIL IN CANADA
>HOW DO I BUY US OIL IN CANADA

titanium support at 1 cent lmao

>>18574806

just turn on the faucet in your sink and put a glass under it and you'll be collecting a more valuable resource

>>18574753
topkek

>>18574858
kek

This kills the globalist gangsters

>>18574858
holy shit my belly hurts

>>18574653
BITCONNEEEEEEEEEEEEEEEEEEEEEEEECT

feels surreal, i'm witnessing some historical crashes. meanwhile i'm unaware of what's happening 2008

NOOOOOOOOO YOU CAN'T JUST BUY AT 0.01 FOR A GUARANTEED PROFIT

>Negative
LMFAOOOO

>>18574653
How many tanker trucks do you own? Enjoy getting to take delivery of your purchase

>>18574858

IT ALL COMES TUMBLING DOWN TUMBLING DOWN TUMBLING DOOOOOOOOOOWWWWWWNNNNNNN

Unironically how the fuck do I long this? I only see this chart on tradingview, all the CFD brokers and online trading platforms have oil at about $20.

>>18574653
it can go to 0.01
and then go to 0.001

>>18575181
(((online trading platforms)))

I don’t understand what this means

>>18575102
It's okay, gas will be negative too so they'll pay the delivery guys to use it.

>>18575089
it can crash below 0.01 you fucking maggot

>>18575203
It’s already negative in some cases.

>>18574681
I actually thought I was still on twitch chat for a second.

>>18575240
Oil storage is no more despite what they say.

it's just dead at 1 cent wtf

>>18574858
my glass of water won't be worth 500000% of its current value in 2 years

>>18575260
If it never goes up again society has finished and your digital money is worthless anyway

Closed my short from .27. Well, gentlemen. I just made the easiest $372 of my life.

Where the fuck do I buy on robin

Would now be a smart time to buy oil shares?

>>18575181
>20
those are june contract, the one crashing are may's(since all stock are full, they don't have where to store it) , if you going trade learn a thing or two

>>18575409
sorry anon you had to be priced in already

>>18575336

>he doesn't know

Can anyone explain WHY this is happening though
Don't just say corona or some saudi oil deal or some shit, 99.95% down is more than that, what the fuck happened

>>18575453
Literally buy ventilators. It will be your ticket into the subterranean mega-city near you.

>>18574653
doesn't matter jews will just revert the price back to 20$ a barrel anyways with their printing

>>18575439
Dont lie to me you nigger! It's time to buy blood in the streets

>>18575497
corona or some saudi oil deal or some shit

>>18575497
demand is down, supply is up, and the storage facilities are full.

>>18575497
those contract expire next month and no one has where to store oil

>>18575497
tl;dr all this oil and no place to put it

>>18575497
Oil war to fuck over russia/China and the US some shit

>>18574653
HAHAHAHAHAHAH
OH NO NO NO NO NO

HAHAHAHAHAHAHHAHAHAHAHA!!!

Russia and SA will soon announce complete halting of oil production.

Screencap this.

>>18575336
>doesnt know about the oil asteroid mining
Ngmi

>>18575089
>Gauranteed
Bankruptcy is a real thing.

>>18574653
I bought 100k and they payed me $300k

How the fuck do I make money off this. I literally am signing up for a stock service right now.

please i dont want to wage

What do I buy RIGHT NOW for when the rebound happens

>>18575686
Where are you going to put it anon?

>>18574717
tard

>>18575733
>when
never

>>18575713
this isn't the golden opportunity you hope it is.
save your money.

>>18575497
I just read the 0$ just refer to WTI crude oil May futures. The trading for these May futures ends tomorrow. Storage is running out so speculators have to get rid of the futures they bought right now or they receive oil without knowing where to store it. That's why the price is now at zero. The WTI crude oil futures for June are still at 22 dollars.

>>18575752
how is that even real XDDDDDDDDDD

>>18575741
i will build a new world trade center out of barrels in my backyard

>>18574653
>panicking over negative Oil prices
I wouldn't worry about it

>>18575752
How the fuck does that even work in a market, you get paid if you buy the bags or some shit?

80% of the people in this thread don't even know what the fuck this is or that it concerns future contracts.

>>18575770
If I buy oil shares right now they literally have to credit me. How the fuck could this not be a good opportunity? I could buy a million shares and when they go back to $2 be a multimillionare

>>18575785
So where are they going to put all the oil for the next month? Demand is depressed and supply is basically constant. You can't exactly miracle more tankers out of thin air.

>>18575837
These are not shares.

>>18575497
the whole thing with selling oil is a continuous process. to make things simple, just imagine that they literally cant stop to pump oil for technical and economic reasons. due to corona, nobody buys shit, so demand is down massively. a problem arises: what to do with all this ENORMOUS amounts of oil? storing that shit is very difficult and expensive.

>>18575820
explain then

>>18575886
Fine I will just tell them I want to buy a hundred billion barrels of oil. They have to credit me with the transaction and then I can just donate them to some poor country.

we short june next or?

>>18575820
I just like fueling the fire.

>>18575963
unfanthomly based

>>18575949
You do have to physically own the oil. You need a swimming pool.

>yfw it's -$14

>>18575949
it's just a price, if oil producer don't want to sell at -7$, they won't sell anything and you won't have anything to buy.

>he thought $0 was the lowest it could go
>it's already $-10 and dropping

NEGATIVE 35
NEGATIVE 35

>>18575957
Short Q3. Long Q4. The president literally tells us these things.

>>18576072
-25 now, dow jones is 23k lol, absolutely criminal what the US government is doing

>>18574858

>>18575949
The poor country has nowhere to store it so they will charge you like $1000 a barrel storage fees

>>18576083
They have nowhere to put the oil they are pumping now and its really expensive to cap the wells so they keep pumping.
The problem is the demand is not going to return next month or the next because the crisis is far more serious then most want to admit.
Next month the same problem is still going to exist and the next.

>>18575817
when no one wants to pay for the storage fees with physical delivery, they'll pay you to take bags.

>>18576113
NO BRAKES

>>18576083
Lol what is he gonna do with it. He cant stop pumping

>>18576209
Then I will keep a couple barrels for next winter and let the rest get "stolen" out in some desert

Don't blink!

>>18576215
at least I'll have oil for my car for a while, just gotta order a barrel up and wait for them to send it to me.

>>18576110
I LOVE YOU KORONA-CHAN, because of You 2020 IS THE BEST YEAR EVER

>>18574753
what can i buy on IB as an European ? is thatWTI on it?

>>18575089

>>18575820
this

>>18575837
>>18575817
>>18575806
remember posts like those when you think its a good idea to follow investment tips from /biz/

>>18576163
>us government
lol anon, please

>>18576432
well the people in charge, the aliens, you know what I mean, It's all rigged, it's all fake

>>18575089
Do it faggot, I want you to be seething tomorrow.

>>18575181
You can't.

>>18574705

I am financially ruined.

>>18574858
quality post

>invested 50 dollars in oil
>already made 3 million
FUCK I'M RICH

>>18576640
This.
It’s the contract prices for May if I’m not mistaken.

>>18574653
This is going to be link soon...
Checkem

individuals who bought this contract today have no idea how markets were and will have paid handsomely for their mistakes

>>18575752
I didn't know negative prices were possible.

Sold all my BTC then bought WTI for $0.01
Going to short this at $61 next year

>>18574858
Holy based!!!

>>18576882
Is that possible?

>>18576882
>he didn't buy at -$40

My buddy in finance was also watching this, and recommended that I not buy; I thanked him after it closed at -$37.

So for the people that end up having these contracts, what happens? If there is no where to store it, and you are some random Joe trader, where does the Oil go? Someone could buy 100k barrels and what, keep it in their back yard? Doesn't make sense

>>18574753
>EVERY LONG HAS BEEN LIQUIDATED.
IS THIS TRUE? HOLY FUCKING KEK

>>18576882
>>18576958
>>18576976
What did the post that got deleted say?

>>18575752

>>18577079
It doesn’t work like that. It’s an EFT and there’s a dividend. I think the dividend is zero now tho.

>>18575529
kek

Is there any place where I can see the negative graph?

>>18576976
How do you even buy at -40? Do you get credited in your account?

>>18575336
doubt, it's not even funny at this point

>>18577177
It said he bought at 0.01 and was going to long it to sometime next year at $61.
I think he deleted it because he thought it was such a good idea that he didn’t want others to have the same one.

>>18577208
>soi face

>>18577177
>Sold all my BTC then bought WTI for $0.01
>Going to short this at $61 next year

Use 4chan X so that you can see things like this.
https://github.com/ccd0/4chan-x

>>18576163
I watched that whole fucking video because the girl is cute

>>18577177
It was something to that effect

>>18577177
An idiot with no idea how markets work

>>18577228
If you don't actually need to recieve the commodity, how could it be negative? I understand that it'd be negative if the owner needs to sort out storage

>>18577254

I bought 100 barrels. They direct deposited $4000 in my account and they're supposed to drop them off in my driveway later this afternoon

>>18576702
Show proof

>check on investing.com for the price
>this guy rants in chat
>he is at negativ -120k$
>40k from his own pocket
>80k from family and friends
>he wrote this when the price was at -30$
>It will go up r-right? pls answer ME
lmao

>>18575539
>>18575557
>>18575565
Explanations like these still don't fully explain it. Demand presumably went down because of coronavirus shit. Fair enough. But why did supply continue to go up? Why didn't they slow oil extraction in response to decreased demand? And why weren't investors more sensitive to this upcoming result? I would have expected a slow decline as the storage facilities got nearer and nearer to being full, rather than a sharp drop at the moment of their becoming completely full.

brainlet here. if you're an oil refiner with storage space, do you get paid to take their oil?

WHERE CAN YOU ACTUALLY """""BUY""""" AT NEGATIVE PRICES???

GIB LINK

>>18577519
lel new german btfo

>>18577497
it is no spotprice.

but imagine

>>18577547
yes
but only if you can receive by the end of this month.

>>18577535
>Why didn't they slow oil extraction in response to decreased demand?
they can't, apparently, not any further

>>18577535
>But why did supply continue to go up?
The Russians flooded the market at a loss to screw over the Saudis.

>>18574653
Thanks I bought more at $-40 and will short this at $61 next year

>>18577547

>>18577462
for actual buyers that is the price. But these are ETFs on an exchange which is just something you can buy that reflects the price per barrel. That’s my understanding.

>>18575336
screencap'd for future reference

>"buy" millions of futures contracts at negative
>flee to some Caribbean island under a fake name
What's the worst that could happen?

>>18577549
Lol this. I think you’re still charged $0.01 right anons?
Or is this a real life h4cks for infinite money?

>>18574653
Somebody that just buzz lightyear’d off of his office building.

some CFD trade vendors still shows oil at 20

any one that lets you trade at 0.1 ?

>>18577625
tnx anon. trying to figure out why my oil stock is up.

how do futures differ from a bond, theyre both contracts no?

>>18575336
no one tell him

>>18577953
Bonds are denominated in currency. Futures are denominated in a commodity, and they can be settled physically or some for cash.

>>18575336

What's -40*5000, brainlet?

>>18578118
oops I lost 1 cent, I'll just order a couble to make my money back

>>18578050
so prices you see in future markets are the price of that particular asset and a date is later determined?

I keep laughing for an hour kek

haha oil printer go brrrrrr

>>18577535
These questions were being asked a month ago.

>>18578735
So why didn't the price slowly drop a month ago?

Why the fuck didnt they just slow down production to match the new level of demand?? Is everyone retarded??

>>18578854
it did, you moron

>>18578854
Effects are starting now, not then?
>>18578986
Yes

>>18578670
topkek

>>18575752
How is a negative price actually possible?

>>18579274
supply and demand curve. look it up.

>>18579274
Imagine you bought so much toilet paper that you can no longer breathe or even move in your own home. At that point you'd happily give it away or even pay someone else to take some of your tp.

Bros what happens if I buy oil futures now, do I get money, is the market broken what.

>>18574653
>>18574653
where are all those anons that were holding crude oil inside of their homes?

>>18580138
You could turn a profit if things recover, and if they don't get back to the point where oil is in high demand again then it doesnt matter what your 1s and 0s are invested in because the whole system will crash.

The problem is, when you buy the oil futures you'll have to buy a large amount at a minimum because it's a big boy industry. As several anons have said before, unless you can transport and store at least 1000 barrels then you can't do a damn thing to take advantage of this.

>>18580361
Isnt futures not the actual product, either way do they pay me or just dont validate the trade if the price is negative.

WE'RE GOING TO WAR

>>18580361
Yeah and the storage would have to be close as the transport is quite expensive.

>>18580427
They won't sell to you unless you take the actual physical product off their hands, and so long as you do this they will pay just because the cost of them a) building more storage or b) having to "stopper up" the wells is probably more than paying you to take the barrels.

>>18576309
>Then I will keep a couple barrels for next winter and let the rest get "stolen" out in some desert
How dare you

>>18580755
Ouch im just a nobody with trump bux who wants to ride the storm out and turn it into enough for a car once it recovers due to gov intervention.

>>18575059
right in the feels bro
I mean at least I was expecting the rug to come out at some point, but this is just weird

ohhhhhhhhh you know what this is? Some institutional ploy to get them to ease up the production war peacefully
The whales are at work today thats for sure

>>18580700
Maybe you could find some desperate laid off truckers to hire for cheap, but then again I bet there are (((regulations))) and miles of red tape to navigate just to move oil barrels around.

Whats the closest I as a small fish could get to making some money off of this.

so where can I go to get a free tank of oil? someone must know there's excess surely and they want to get rid of it

>>18581265
I just payed $40 for an oil change a week ago, theres some fuckery going on this price is fake

WHERE TF DO I BUY THIS???
WTI SAYS $2, NOT $0.02???
I AM ON ETRADE RN

>>18581443
Literally the price of just doing buisness with etrade at this point.

>>18575785
Are there any fines or punishments for not collecting purchased goods?

>>18581443
>etrade
aaaaaand its gone.

>>18581443
Even Robinhood didnt have it at .02 today

>>18581265
You probably wouldn't be able to buy 1 or 2 barrels. Minimum like 1000 or 10000. So you would need an Oil Tanker and store it in that while loosing $$ on keeping it running. Or find / build an huge tank for storing the oil in on land. Both sound really expensive so you would need to get massive amounts of oil just to cover that.

im a brainlet

if you short at -$1 and it goes to -$10, do you profit or lose money?

where can I buy online

>>18581938
>shorting a negative number
That makes you long on the position.

>>18581938
profit. -10 is less than -1

>>18581543
>>18581787

I have etrade. What's the problem with Etrade? Deebly goncerned right now.

>>18575883
Ask BP where they put oil

another brainlet question.
if you had storage capacity, would it be better to stop or slow down filling, wait until a price squeeze causes prices to go negative, then fill up at a profit? rinse. repeat.
until production cuts match demand destruction.

>>18574653
>]
I don't understand why a barrel of oil would cost money to store? It already comes in a barrel, what more storage do you need.

>>18582224
it doesnt come in barrel, it comes in tankers, barrel is just the measurement

>>18574653
> This is why Dr. CovidLove learned to stop worrying and love the Flu

>>18575427
Yeah, wait 6 months for a 2-3x

>>18574705
How do the neighbors feel about that?

>>18582224
Every sq ft of a warehouse can be broken down into a dollar amount. It costs money to store anything. When you have millions of tons of something its not like just putting a jerry can in your shed

>>18582224
How many barrels of oil can you store in your attic? 10 maybe? Any serious quantity of oil being kept in a stable environment will cost you.

>>18577535
They literally cannot stop pumping the oil in the northern areas. They wouldn't be able to resume pumping it as easily as you think.

>>18582463
>its not like just putting a jerry can in your shed
Kek

>>18574858
Kek

>>18581765
yes everything is just like ebay

>>18575713
>pwease i dont want to work

So you're telling me that crude oil is literally worthless but they're still charging me 500$ to fill my heating oil tank??

>>18575908
dude they can literally just store the drums of oil in their parking lot or in their offices and shit. Or even in the desert or forest. Whatever bro. Just store it someone in the open. I don't see the probelm

>>18582980

thats not exactly how it works

>>18575336
>he doesn't know

>>18582980
can you fill your car with crude oil ?

Why can't you long USO?

>>18583874
yeah, why?

>>18583956

Contango. DO NOT long USO

>>18575820
The May futures contract expires on tomorrow's close.

>>18574753
BULLTARD EXTINCTION CONFIRMED.

>>18575785
>speculators have to get rid of the futures they bought right now or they receive oil without knowing where to store it.
Not how it works, stupid. Most investment level futures are covered by contracts that agree to a fee to escape the contract when it expires - ie. you pay a fine to lose your money. The real traders can have other options to get out from under, but there's no point explaining it to mongoloids like you, because they'll never affect you.

>>18577079
Retail trading of oil futures usually (almost always) have clauses in the contract to deal with this possibility.

https://therobusttrader.com/what-happens-if-you-hold-a-futures-contract-until-expiration/

>>18577535
>But why did supply continue to go up?
Because oil wells aren't faucets. Slowing production means capping wells, and once capped, that well is almost always closed for good - it's cheaper to dig a new well. (hint: digging wells is not cheap, nor easy.)
Also, OPEC didn't plan on enough cuts. Because they're greedy. So now they can sit on supertankers in international waters with their crude nobody wants or needs.
>And why weren't investors more sensitive to this upcoming result?
Investors have been aware of the possibility of today happening, and have been discussing it since the price war started. Just because YOU weren't aware of it, doesn't mean the industry and investors weren't.

>>18582172
most of the time you've already purchased your contracts way before. so now you're trying to back out of your oil delivery and the producer is like lol no.
you now are looking to sell those contracts (which are all up today) so you don't have to get this oil poured on you.
for the most part, the penalties for breaking contract are more than paying to get rid of the contract on the market.

is it true that you have to collect the oil only in cushing oklahoma?

>>18587109
yes its byob
bring your own barrel

>>18587521
you got a chuckle out of me anon

>>18574753
>EVERY LONG HAS BEEN LIQUIDATED.
my bot is down 4%
*shrug*

>>18574858
Based