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Online mystery-ak

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Oil Plunge Deepens
« on: April 21, 2020, 07:07:03 pm »
John Carney 21 Apr 2020


The chaotic plunge in oil prices spread on Tuesday beyond the May futures contract set to expire at the close of trading.

The May futures contract for West Texas Intermediate, the U.S. benchmark, went sharply negative on Monday but bounced into positive territory on Tuesday. The June WTI contract, however, crashed more than 41 percent to just below $12 a barrel.

Brent crude prices also fell steeply. The June contract plunged around 25 percent to less than $20 a barrel.

Traders say the month-out contract is more indicative of underlying supply and demand than futures contracts due to expire in a few days.

The United States Oil Fund, an exchange-traded fund with the ticker symbo USO, was briefly halted before the opening bell Tuesday. It plunged when it began trading, falling 25 percent by midday. Year to date, the fund is down 78 percent.


more
https://www.breitbart.com/economy/2020/04/21/oil-plunge-deepens/
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Online The_Reader_David

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Re: Oil Plunge Deepens
« Reply #1 on: April 21, 2020, 07:54:23 pm »
Fill the SPR while prices are negative!
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Online Hoodat

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Re: Oil Plunge Deepens
« Reply #2 on: April 21, 2020, 07:57:07 pm »
Quote from: The_Reader_David on April 21, 2020, 07:54:23 pm
Fill the SPR while prices are negative!

Pelosi won't allow it.
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Online libertybele

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Re: Oil Plunge Deepens
« Reply #3 on: April 21, 2020, 08:00:58 pm »
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Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online Hoodat

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Re: Oil Plunge Deepens
« Reply #4 on: April 21, 2020, 08:08:04 pm »
U.S. energy secretary to urge House lawmakers to buy oil for strategic reserve

April 21, 2020 / 11:58 AM / Updated 4 hours ago

WASHINGTON (Reuters) - The U.S. energy secretary said on Tuesday he would talk with leaders in the U.S. House of Representatives later in the day and urge them to fund the purchase of crude to fill the emergency oil reserve.

In March, President Donald Trump ordered Energy Secretary Dan Brouillette to fill the Strategic Petroleum Reserve, or SPR, to the top as the price of oil plunged while the coronavirus crushed global demand. So far, Congress has declined to fund the purchase, with some Democrats opposed to bailing out the oil industry.

https://www.reuters.com/article/us-global-oil-usa-brouillette-idUSKCN2232F1
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Offline Cyber Liberty

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Re: Oil Plunge Deepens
« Reply #5 on: April 21, 2020, 08:44:21 pm »
Quote from: libertybele on April 21, 2020, 08:00:58 pm
It was reported that he bought up oil last month for emergency reserves.

https://www.bloomberg.com/news/articles/2020-03-13/trump-says-going-to-buy-large-quantities-of-oil-for-reserve-k7qlrbck

Pelosi won't fund it.  We have to pay for mail-in voting for all, first.  This line item is one of the Rats' favorite bargaining chips. 
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Online mystery-ak

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Re: Oil Plunge Deepens
« Reply #6 on: April 21, 2020, 08:57:51 pm »
Dow drops more than 1,200 points in two days amid oil market turmoil
https://thehill.com/policy/finance/493970-dow-drops-more-than-1200-in-two-days-amid-oil-market-turmoil
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Offline Smokin Joe

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Re: Oil Plunge Deepens
« Reply #7 on: April 21, 2020, 10:00:28 pm »
Millions for illegals but not one drop for our own oil?

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Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis
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