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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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18585467 No.18585467 [Reply] [Original]

Negative oil is sold out.

>> No.18585482

>>18585467
Imagine the return

>> No.18585514

who the fuck is buying oil at $20 again

must be FED

>> No.18585549

>>18585482
10k barrels would be about 600k if you bought deep in the negative.

>> No.18585556
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18585556

>missed the opportunity of a life time
>again

>> No.18585576

>>18585514
brent is $26 retard
this was litterally a nothing burger

>> No.18585581

>>18585467
Switched to the June contract

>> No.18585631

>>18585467
Wait so the oil crash from today that everyone was talking about has been fully reversed already?

>> No.18585665

>>18585631
yeap, it's burger magic

>> No.18585669

Look at all these idiots

>> No.18585684

>>18585631
may contracts ended, this is june contracts now
WTI is still worth $0.01 though

>> No.18585728

>>18585467
didn't the future expire today?

>> No.18585738

>>18585684
>WTI is still worth $0.01 though
No, it isn't, you stupid cunt. Oil production is being cut, and oil is still being consumed, there will be storage capacity for the June contracts.

>> No.18585762

>>18585738
>oil is still being consumed
clearly not lmao enjoy your backyard full of barrels futures degen

>> No.18585778

>>18585738
It literally is tho?

https://www.tradingview.com/symbols/USOIL/

>> No.18585781

>>18585738
>there will be storage capacity for the June contracts
there won't retard
lockdowns will continue in every country for at least a month
nobody is buying oil

>> No.18585800

>>18585738
cope harder

>> No.18585812

>>18585728
No, tomorrow

>> No.18585842

>>18585738
You're fucked bitch. Oh well, when you lose literally everything no your shit oil trade, you can always take delivery and live in one of the barrels lol. Bitch.

>> No.18585868

>>18585812
then how tf did it recover so fast? wtf happend?

>> No.18585955

>>18585868
because this is all a result of runaway algorithmic trading. It's literally just computers dividing by zero and automatically selling shit. The stock market is a fucking scam. That's why they close the markets when there's a run like this, it give the computer algorithms time to reset.

>> No.18585969

>>18585556
the contracts rolled over, you didnt miss out on anything

>> No.18585996
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18585996

>>18585467
what're the chances they just killed everybody who personally participated in the shitshow and then reset the ticker and just pretend it never happened. would anyone know?

>> No.18586009

>>18585868
the $21 is for next month delivery.

>> No.18586013

Was any broker trading OIL with these prices even?

>> No.18586035

>>18585868
Retards don’t understand futures trading, oil was always trading around 21 some clowns trading futures got fucked because of future delivery

>> No.18586092

>>18586035
I understand how futures and shit worked, but did anybody actually make money from this from betting against it?

Do CFDs on futures exists?

>> No.18586117
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18586117

>>18586035
>the price of oil was never negative. that was just some esoteric and complex wall street trader's anomaly that didn't impact anything

>> No.18586690

>>18586035
>t. doesn't understand how futures contract works
That's why you're a pennyless faggot.

>> No.18587312

guys theres a line of oil trucks outside my house asking where to put it mums going to fucking kill me

>> No.18587398

This thread proves how little /biz/ knows about financial markets. It’s honestly pathetic.