[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 378 KB, 683x720, 873.gif [View same] [iqdb] [saucenao] [google]
18712123 No.18712123 [Reply] [Original]

Why is OIL dumping again?

>> No.18712149

>>18712123
why not?

>> No.18712204

>>18712123
Did you expect demand for diesel and jet fuel to go up this week? Or storage silos to get built over the weekend?

>> No.18712221

>>18712123
there is still no place to put the oil faggot, where are you gonna put it when the contract expire ?
do you even understand why it went negative last month ?

>> No.18713009
File: 138 KB, 640x1439, 1517859073433.jpg [View same] [iqdb] [saucenao] [google]
18713009

>>18712123
because you bought

>> No.18713104

>>18712123
It will dump because storage is filling, HOWEVER at the same time economies are reopening in May and the Opec cuts go into effect on May 1. Wells have also closed. The 12-24 month reaction should be mooning oil prices as demand recovers and supply falls.

>> No.18713228
File: 239 KB, 712x668, 1583361911630.png [View same] [iqdb] [saucenao] [google]
18713228

>>18713104
>Wells have also closed
I haven't seen a single actual source say any wells have been capped. They only thing I've seen is that they're all desperately trying to avoid capping the wells at any and all costs