/biz/ - Business & Finance

>>19455314
The burning out was sad. They literally burned out right before they recovered to the start of this, so those who sold lost a bunch of money. At least if you sold now you would of made a profit on everything but NAT and DHT.

>>19211318
Basically, WTI is American, price is accounted for by its own production and the country's supply and demand. Off shore oil isn't in our supply, so it isn't counted for inventory nor price. Basically, we were jewed out of our apocalypse but now they have to pay our tankers for storage as we halt accepting exports while everyone keeps exporting. Seems like we will make tankers halt indefinitely until our supply goes down enough, meaning less supply of tankers to take on more export oil, which means more tankers filled, which means better rates. This seems to be how the market is currently taking this. Combined with the fact that we are still in a greater contango and sentiment is poor for overall oil recovery, and we are actually possibly in business specifically because they are avoiding oilmageddon. Things look good, and all it takes is one negative event like China re-shutdown or another India extension or demand refusing to pick up and the killing will commence again.

My opinions/interpretation of this situation. I think people took on June contracts today because they specifically knew that tankers weren't going to be let into here for a month at minimum, probably more, thus with our low demand and lower production allow them to effectively store oil. Again, my interpretation, take it or leave it. Which essentially means we were jewed...but maybe in a good way for us.

>>19086937
I am feeling him. Based chad.

>>19086942
Can damage control beat reality though? I don't see how negative oil can be prevented or how any semi-educated investor is buying oil right now.

>>19086977
Hopefully this is the peak now, we are approaching Friday and I don't see a 1 day -100% drop next week, it got to bleed at least a little, come on. Will they actually make a joke of the oil futures trading and dump it all in like 1 day without so much as a minus 5% leading to it?

>>19007443
Quite a good idea. Anything too far out of spec should be confiscated. Probably keep it in the captains quarters until you get to port.

If you have to confiscate, you'll just have to issue them some flip flops in the mean time. Definitely follow up with anyone with a protocol violation though. It's time consuming, so you'll have to be prepared to spend even more time with a pair of now-bare soles in your face