/biz/ - Business & Finance

>>18567395
when should I buy?

>>18567706
sure as fuck not now

>>18567706
now

>>18567819
This

>>18567706
>>18567743
>>18567819

brainlets… WHEN IT IS AT THE LOWEST POINT! it is that easy

>>18567395
>prices down to 90's levels

>>18567819
>>18567830
they are going to run out of storage space for all that glut surplus of oil and this shit is going to drop below $5 retards

>>18567395
So do you need to buy psychical oil?
Or can you just like, pay a guy to hold oil for you then sell it on later, lol

>>18567879
wow wouldn't mind filling her ass up with my human oil if you get what i mean ;)

>>18567706
Wait a bit, coronachan has plenty of love to give

>>18567927
Anything is possible if you can strike a good deal with someone.

>>18567743
of course not because why would you buy when its at a record low.

this really is the 4chan biz board I heard so much about....

>>18568001
>of course not because why would you buy when its at a record low.

Its going lower.

>>18567945

that’s a man

>>18567965
what oil stocks are good

Woah desu

>>18567395
and thats a good thing

>>18567879
they will just build new warehouses retard

we gonna start driving americans now or wat.

>>18567945
No what exactly do you mean?

>>18568209
>warehouses
Oil is not stored in warehouses you can slap up quickly you fucking moron. Storage of oil needs refining and storage hubs that is expensive as fuck, takes time to build and need locations in strategic routes. The storage cost has also risen 50% and 100% recently and most facilities are nearing maximum capacity. Also heavy and light crude cannot be stored together, jet and gasoline deteriorate when they are stored. Eventually it's going to reach a point where storage capacity is reached and/or it becomes cheaper to dump at whatever prices you get. Buying oil now is completely retarded. Hur dur...it's an all time low.

>>18567879
sweet vishnu

>>18567879
>thinking that stupid fat fuck trump isn't about to do something insane to try and prop up us oil
he'll tell jerome to add more zeroes to the balance sheet, buy barrels and personally throw them in the ocean before he lets oil totally collapse in an election year

just start selling options when it hits that sweet peak from the bounce

>Oil gets decimated.
>Oil stocks barely scathed.
>Still up from last weeks lows

Time is running out, anon. Did you buy oil stocks yet? stocks yet?

WTI is going to $2 you have been warned

>>18569332
I have 35k in oil stocks and I'm kicking myself and hoping someone does something to give the industry a false hope spike so I can get out at breakeven. This shit is the worst, I feel retarded and I don't want to hold the bag anymore

>>18569398
real question, Anon. when you see the continuing decline of oil stocks over the last couple months, why not pull out ASAP? why wait this long?

>Western Canadian Select at negative prices
There is nowhere left to store this shit

>>18569483
>why not pull out
because I'm a retarded faggot that's why. I thought I could make a quick bit of cash on the oil deal when the sandniggies and iceniggies weren't playing nice. The deal went through and I held all my positions cause I got greedy wanting just a little more. It dipped so I was holding for the eventual comeback to get out and now it's cratered so I'm just crying and coping really hard today cause it doesn't look like I'll be able to get out of oil for years. I got caught holding the bag, it's totally my fault, and I'm just mad about the whole thing

>>18569678
damn, I feel bad on your behalf. at least there's one positive to look at with all this; once we hit the bottom, it can only go up. once this virus is over and done with prices should bump way back up with demand skyrocketing

>>18569764
The chinks are getting fucked again after they got too cocky, WHEN will the virus end is the question.

Which companies to buy?

>>18569678

So you know we were locked down. You should have known about the storage problem if you did your due diligence. This is just retarded. Hopefully you at least hold stocks in a company with the financials to weather this storm, like ExxonMobil or Shell. Schlumberger is losing bazillions. A lot of small players gonna go belly up.

>>18569764
What if the price doesn't come back though? Seeing as the oil producers have been artificially limiting oil production for decades, essentially price fixing..

>>18569981
it probably won't go back to the $70 it used to be, but it'll definitely go up from the $10 it's gonna be

>>18569037
sweet vishnu this toilet needs a good spanking

>>18569981
the only purpose of OPEC was to keep oil artificially high
thats why we destroyed all those arab countries and venezuela who were undercutting OPEC and dropping prices

they literally have a global monopoly how will it not go back up

Where do people watch oil prices?

>>18570783
for years they have been driving price down to fuck with the US oil price to try to drive them out of business, it hurts opec to sell at such low prices, they cant afford to do it forever. Now shit tanked even more and its out of their control, if they raised the price it would just help the US companies, so they are still trying to weather the storm. It has to go back up tho because opec wasn't counting on demand dropping this badly, they cant afford it when all their other markets arent pulling shit in either.

>>18571392
what if Iran took over Kuwait cause they just cannot stop producing oil?

Why don't they just stop pumping?

Seriously that canadian crude is already trading at negative price, why not just stop?

>>18568001
earnings report?

>mfw I wisely bought oil tanker and transportation stock
It was a win-win either way my friends.

>>18567965

>>18568001
Fucking go back nigger faggot, nobody wants you here