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March 2020 and Oil just hit 30 Dollars even for Wti.....True Haps

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posted on Mar, 8 2020 @ 07:42 PM
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just happened tonite and my group bought that....WTI at 31....

the idea is a move like that is a bank with an Expiry.....for a country like prolly Mexico.....

do you believe my post on a Sunday nite....?....I kidd you not it hit 30 dollars....

I need to hear some input so badly....




posted on Mar, 8 2020 @ 07:50 PM
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But , how long till $110 again ?



posted on Mar, 8 2020 @ 07:50 PM
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cool sum up for the finance side of that story.....

but prophetically....

Russia is to have a hook in it's jaws in the end time. Russia also needs oil to be at 120 dollars a barrel. Israels oil and gas fields.....maybe Russia wants Israel off the map, too



posted on Mar, 8 2020 @ 07:53 PM
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originally posted by: Gothmog
But , how long till $110 again ?


Just shut up and buy the dip, dip #!



posted on Mar, 8 2020 @ 07:53 PM
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Gothmog....thanks for postin....April 30 2020 imo.....naw idk


a reply to: Gothmog


edit on 8-3-2020 by GBP/JPY because: (no reason given)



posted on Mar, 8 2020 @ 07:55 PM
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originally posted by: GBP/JPY
Gothmog....thanks for postin....April 30 2020 imo.....naw idk


a reply to: Gothmog


Neither do I.
That's why I was asking ...
But , I do believe April-May would be a good guess.

edit on 3/8/20 by Gothmog because: (no reason given)



posted on Mar, 8 2020 @ 07:57 PM
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originally posted by: Sookiechacha

originally posted by: Gothmog
But , how long till $110 again ?


Just shut up and buy the dip, dip #!



Shhhh....
We don't want many to know.



posted on Mar, 8 2020 @ 07:58 PM
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I mention 42 the other day. The thing is which most people are unaware of, is that the crew are no longer available due to restrictions leaving their port of entry. This causes many unknown restrictions for the crew members of cooks to the engineers of the ships. Get real people, the transportation of crude oil will soon be dead.



posted on Mar, 8 2020 @ 08:30 PM
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Someone is going to have to research for news of this but I remember seeing something about Saudi Arabia dumping oil into the market and trying to break up OPEC.


www.npr.org...
Oil Prices Plunge 30% After Saudi Arabia Stuns World With Massive Discounts


Oil prices were in freefall on Sunday after Saudi Arabia announced a stunning discount in oil prices — of $6 to $8 per barrel — to its customers in Asia, the United States and Europe. Benchmark Brent crude oil futures dove 30% in early trading Sunday night before recovering somewhat to a drop of 22%.

Saudi Arabia, the world's second-largest producer, this weekend also said it will actually boost oil production instead of cutting it to stem falling prices, in a dramatic reversal in policy from just two days ago.

edit on 8-3-2020 by CharlesT because: (no reason given)


This will hurt US fracking and Canada's oil shale.
edit on 8-3-2020 by CharlesT because: (no reason given)



posted on Mar, 8 2020 @ 08:34 PM
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a reply to: GBP/JPY

Oil is down because of the COVID scare.

People are staying home.



posted on Mar, 8 2020 @ 08:41 PM
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Whatever group you're in, you might want to "go home and rethink your life"... it doesn't take a rocket scientist to see that this was coming... In fact many have been saying for weeks now that this was the corona virus end game...



posted on Mar, 8 2020 @ 09:32 PM
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originally posted by: grey580
a reply to: GBP/JPY

Oil is down because of the COVID scare.

People are staying home.


Thank you for that coming from someone in the oilfield.

Expected demand for oil fell over a month ago.

Because of the Corona virus.

OPEC didn't start this, but they sure are exploiting it.




posted on Mar, 8 2020 @ 09:38 PM
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a reply to: Lumenari

Forbes



The oil markets have been anticipating a big impact on oil demand from the coronavirus outbreak. That’s why we have seen nearly a 30% drop in the price of crude oil since the beginning of January.


Looks like it was expected since January? Seems that the drop is due to travel restrictions in china. Flight restrictions also lead to fuel price drop. It's very interesting how it's all intertwined.



posted on Mar, 8 2020 @ 10:08 PM
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I deliver heating oil. I believe the warm winter also playing a role in the drop. The price has been going down as it has been staying warm and less useage.



posted on Mar, 8 2020 @ 10:15 PM
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Well on the bright side gas should be under a buck a gallon by morning right?

Lol right



posted on Mar, 8 2020 @ 10:25 PM
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originally posted by: caterpillage
Well on the bright side gas should be under a buck a gallon by morning right?

Lol right


My sister was just saying that to me on the phone... at least the price of gas will go down!

Till I pointed out that she won't use that much if she has no job to drive to...

The energy sector holds the economy together.

Without it, we all fall down.



posted on Mar, 8 2020 @ 10:28 PM
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originally posted by: grey580
a reply to: Lumenari

Forbes



The oil markets have been anticipating a big impact on oil demand from the coronavirus outbreak. That’s why we have seen nearly a 30% drop in the price of crude oil since the beginning of January.


Looks like it was expected since January? Seems that the drop is due to travel restrictions in china. Flight restrictions also lead to fuel price drop. It's very interesting how it's all intertwined.


Also tourism and especially cruise liners.

Those puppies burn a ton of oil and leave a slick of it wherever they go.

Nasty things.

But yes, we have been hit hard since January and this is a completely unexpected turn.

I have 5 meetings this week that I didn't have Friday.




posted on Mar, 8 2020 @ 10:47 PM
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I have to fill up the heating oil tank in about 3 weeks, it will probably work out perfectly. As soon as it drops I will fill up all five 5 gallon jugs for my tractor and plow truck.

The fact that people aren't going to be flying all over the world very much for a while, and won't want to get quarantined on cruise ships will help to curb climate change for a few months. We will still have to go to work guys...well, you, not me, I am retired.
edit on 8-3-2020 by rickymouse because: (no reason given)



posted on Mar, 9 2020 @ 01:01 AM
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kerosene now has dropped about 32 cents (usd) not bad, but gasolene is dropping to (about 40 some cents a gallon) people are not driving now due to the corona virus



posted on Mar, 9 2020 @ 06:51 AM
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a reply to: Lumenari

Yes, just heard that there was cruise cancellations.

So even more oil demand going down.

If even more travel restrictions go into place fuel prices will plummet even more.



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