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04-20-2020, 05:08 PM | #23 |
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04-20-2020, 05:26 PM | #24 |
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It’s negative now, does this mean gas stations will pay me to pump gas lol
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DocL2047.00 Littlebear3516.50 |
04-20-2020, 05:47 PM | #25 |
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I haven't put gas in my car since April, 2019! I did put a tank of winterized diesel into the Mighty Dodge last October, and haven't even run it since the week before Christmas due to the lack of snow this winter.....
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04-20-2020, 07:16 PM | #26 |
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Still $215 a gallon here
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infinitekidM2C4281.50 |
04-20-2020, 07:27 PM | #27 |
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Went as low as negative $32. Means very little fundamentally. Out months are in the $30's. Means a lot if you hold some May WTI.
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04-20-2020, 07:29 PM | #28 |
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Yet I'll still have to pay a "fuel surcharge" to that shitfuck Stericycle company that picks up my biohazard waste. They've been doing it since the prices went sky high and never lowered it once prices settled down a few years ago.
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vreihen1619093.50 |
04-21-2020, 12:52 AM | #29 |
i'm just saying
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went above $1 again..
that was a historical moments we all witnessed..
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04-21-2020, 07:27 AM | #30 |
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should i buy 55 gallon drums and fill them up?
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04-21-2020, 07:52 AM | #31 |
Reclaiming My Time!
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I've seen this one before...
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Jordan's World429.00 |
04-21-2020, 08:36 AM | #32 |
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Standard barrel of oil here in the US is 42 gallons...
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04-21-2020, 10:15 AM | #33 |
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Most shale drillers need around $45/barrel to make a profit, but all depends upon the cost associated with the drilling and completion of each well. Also need to factor in the LOE (lease operating expense) along with G&A. $40 is an avg. breakeven price. a $2 16oz bottle of water translates into a $672 barrel of bottled water. Most shale/horizontal wells drilled today cost about $8MM - $10MM to drill and compete depending upon the basin.
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04-21-2020, 10:28 AM | #34 |
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^ This is all true... but what is happening in the futures markets is something different. E&P companies have been cutting capex in reaction to the drop in oil prices that started in March. They can't make money at these prices and are reacting appropriately though too late for some to survive.
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