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(33.39 KB 958x382 oil price.png)
Markets/Economy thread Bernd 04/20/2020 (Mon) 18:56:17 [Preview] No. 36092
The oil price right now is in the negative holy shit.


Bernd Board volunteer 04/20/2020 (Mon) 19:02:14 [Preview] No.36093 del
So if I buy gas, they're gonna pay me at the station for that?
It's time to fill the bathtub!


Bernd 04/20/2020 (Mon) 19:09:51 [Preview] No.36094 del
https://twitter.com/realDonaldTrump/status/1173368574406250496 oh nonononononono
>>36093
I don't know man this is fucking surreal


Bernd 04/20/2020 (Mon) 19:14:26 [Preview] No.36095 del
>>36094
>plenty of oil
Not from shale tho.
I forgot to turn off role signature.


Bernd 04/20/2020 (Mon) 19:21:18 [Preview] No.36096 del
Lmao they tried to pump


Bernd 04/20/2020 (Mon) 19:32:55 [Preview] No.36097 del
>>36096
lol, fuck me. How is the petro-dollar not worth less than toilet paper right now?


Bernd 04/20/2020 (Mon) 19:36:09 [Preview] No.36098 del
https://youtube.com/watch?v=5iRv-wva5jg [Embed]


Bernd 04/20/2020 (Mon) 20:04:25 [Preview] No.36099 del
Once they stop pumping oil, is the price going to bounce hard in the other direction? Is oil going to get extremely expensive to consumers? What about the tax that is attached? If Russia has to attach too much tax to support their now crippled economy, will it be too expensive for other countries to buy?

I think we are mid-turd hitting the fan right now. The thick end is still to come.


Bernd 04/20/2020 (Mon) 20:45:00 [Preview] No.36105 del
It can't be that bad of a thing for net oil importers (i.e. most of the world).


Bernd 04/20/2020 (Mon) 21:15:41 [Preview] No.36107 del
>>36105
Until you find out they use USD reserves to back their currency which has suddenly dropped in value. The main thing keeping USD floating was international medium for oil exchange.


Bernd 04/21/2020 (Tue) 05:14:43 [Preview] No.36112 del
So I did a quick search and found out there are three "benchmarks" for oil pricing, one of them is this the "West Texas Intermediate". Beside this there's still the Brent and Dubai Crude. How's those pricing stands?


Bernd 04/21/2020 (Tue) 05:15:40 [Preview] No.36113 del
>>36112
Oh link.
Someone smart pls read it and explain.
https://www.investopedia.com/terms/w/wti.asp


Bernd 04/21/2020 (Tue) 05:25:51 [Preview] No.36116 del
>>36112
The others are stable but not for long if wti keeps paying people to take it away. Like the earlier dip caused by deliberate flooding of Saudi oil, this will fuck everyone but worse because wti aren't doing this on purpose in a negotiations war.


Bernd 04/21/2020 (Tue) 13:03:53 [Preview] No.36123 del
>>36097
I believe because it isn't oil standard currency (after they left gold, they didn't fixed it to oil), it's just that US dollar is used to trade oil. In this sense it doesn't matter the fluctuation of oil price, as long as it's traded it's done in dollar, there will be demand for it. It isn't that big hit if the price falls, that would be if they would ditch dollar and pick another currency to do it.


Bernd 04/21/2020 (Tue) 17:53:37 [Preview] No.36124 del
>>36123
The problem they have is no one is buying oil, that's why they are paying people to take it away because they can't stop pumping it. That means a serious drop in transactions likely due to corona which is sinking the USD. The only other major side for the dollar is consumer spending but again corona.
This is a pretty major happening. WAY bigger than 2008 recession.


Bernd 04/21/2020 (Tue) 17:57:51 [Preview] No.36125 del
>>36124
>they can't stop pumping it
that should say, at great expense and serious flow disruption


Bernd 04/22/2020 (Wed) 15:10:56 [Preview] No.36147 del
Looks like the market is on the decline again. Most companies seem to be following this pattern. I have shares in BHP but I still want it to crash more so I can buy up cheaper shares.


Bernd 04/24/2020 (Fri) 16:32:01 [Preview] No.36212 del
(24.45 KB 675x321 5,73.png)
R$ 6,00 is on the horizon.


Bernd 04/24/2020 (Fri) 16:38:41 [Preview] No.36213 del
>>36212
Some growth at last!


Bernd 06/15/2020 (Mon) 11:47:17 [Preview] No.37839 del
I don't think we are going to get through this so smoothly any more.

The market was in a decline last week, which actually wasn't bad or unexpected, it's what markets do and it looked like it was going to be over by Friday indeed the US market did rise on Friday. The problem is that this Covid-19 situation combined with the riots and the resurgence of the virus in China has now become a complete powder keg. What is worse is that we are even opening up as well, usually that would cause optimism in the market but it's not, that's reasonable as well consider that it could all back fire horribly. Even in Australia we know that there were people at the protests who had the virus.

If it does crash again because of this, it's going to be much harder to recover, we won't have the optimism we had before and it would serve as a second blow to an already downed economy. That's if it does crash, I'm not sure that it even will, I think what may very well happen is not a sharp drop but a long and gruelling decline as business are placed on the back foot again and their ability to make a profit decreases and the market as a whole itself starts shrinking.



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