Topping up your tank might become a patriotic duty.wearthefoxhat wrote: ↑Tue Apr 21, 2020 10:52 amDid he buy @ $33?.....jamesg46 wrote: ↑Tue Apr 21, 2020 9:04 amhttps://www.cnbc.com/2020/03/13/trump-a ... serve.html
Is this one of them "Art of the deal" story's? I do wonder how many oil producing states are Trump voting states.
Oil - WTI / Brent Crude
we've all got time on our hands. i recommend you watch this: https://www.youtube.com/watch?v=qxF_CDDJ0YI (Tony Schwartz: The Truth About Trump | Oxford Union Q&A)Jukebox wrote: ↑Tue Apr 21, 2020 10:59 amTopping up your tank might become a patriotic duty.wearthefoxhat wrote: ↑Tue Apr 21, 2020 10:52 amDid he buy @ $33?.....jamesg46 wrote: ↑Tue Apr 21, 2020 9:04 amhttps://www.cnbc.com/2020/03/13/trump-a ... serve.html
Is this one of them "Art of the deal" story's? I do wonder how many oil producing states are Trump voting states.
Somewhere around there, I dont remember exactly. So he filled the US stock pile to full with Saudi oil at around that price and then went on to pay people to take US oil. Am I thinking this through correctly? Basically the Saudis have just made around $80 a barrel?wearthefoxhat wrote: ↑Tue Apr 21, 2020 10:52 amDid he buy @ $33?.....jamesg46 wrote: ↑Tue Apr 21, 2020 9:04 amhttps://www.cnbc.com/2020/03/13/trump-a ... serve.html
Is this one of them "Art of the deal" story's? I do wonder how many oil producing states are Trump voting states.
weirdly, last week my better half had a facebook notification warning that there were *oil thieves* doing the rounds of remote properties. (we live in a pretty rural setting -so things like heating oil in big tanks is the norm). seems like they may now have been dumping, rather than stealing -lol
jimibt wrote: ↑Tue Apr 21, 2020 8:45 pmweirdly, last week my better half had a facebook notification warning that there were *oil thieves* doing the rounds of remote properties. (we live in a pretty rural setting -so things like heating oil in big tanks is the norm). seems like they may now have been dumping, rather than stealing -lol
The oil "price war" at the beginning of last month between Saudi Arabia & Russia wasn't really a price war between them was it? OPEC+ is an agreement between OPEC & Russia is it not. Was the lack of agreement on production all a very convenient way of sinking the price of WTI?
Strange now how Trump starts tweeting about shooting down Iran's Gun Boats (not exactly sure what they are) which instantly drops the price of Brent & is now bailing out WTI & stopping imports.
I'm either very simple or I've become a conspiracy theorist in my spare time... but WTI taking such hits surely isn't going sit well with Donnie. We could see the start of a Tweet War.
Strange now how Trump starts tweeting about shooting down Iran's Gun Boats (not exactly sure what they are) which instantly drops the price of Brent & is now bailing out WTI & stopping imports.
I'm either very simple or I've become a conspiracy theorist in my spare time... but WTI taking such hits surely isn't going sit well with Donnie. We could see the start of a Tweet War.
If interested in what happened and why and what to look for going forward this is an excellent listen:
Motley Fool: Industry Focus Podcast: Energy: Oil Goes Negative For The First Time Ever
On Monday, West Texas Intermediate crude oil prices for May delivery fell from almost $18 a barrel to NEGATIVE $37. What caused it and what does it mean for the oil market? Motley Fool Contributor Jason Hall joins the show to break it all down.
https://www.fool.com/podcasts/industry- ... ve-for-the
Motley Fool: Industry Focus Podcast: Energy: Oil Goes Negative For The First Time Ever
On Monday, West Texas Intermediate crude oil prices for May delivery fell from almost $18 a barrel to NEGATIVE $37. What caused it and what does it mean for the oil market? Motley Fool Contributor Jason Hall joins the show to break it all down.
https://www.fool.com/podcasts/industry- ... ve-for-the
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
"At midnight, Shah got the devastating news: he owed Interactive Brokers $9 million. He’d started the day with $77,000 in his account....."
https://www.bloomberg.com/news/articles ... uge-losses
https://www.bloomberg.com/news/articles ... uge-losses
Same story for people who can't get past Bloomberg's paywall: -
https://www.thenational.ae/business/how ... -1.1017416
https://www.thenational.ae/business/how ... -1.1017416
Thanks for posting up that story. I was waiting for a few stories like that!ShaunWhite wrote: ↑Thu May 21, 2020 5:28 am"At midnight, Shah got the devastating news: he owed Interactive Brokers $9 million. He’d started the day with $77,000 in his account....."
https://www.bloomberg.com/news/articles ... uge-losses
- superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
Nine Essex oil traders made $660m when prices plunged into the red
https://www.telegraph.co.uk/business/20 ... unged-red/
https://www.telegraph.co.uk/business/20 ... unged-red/
Nine independent traders operating from their homes in Essex made $660m (£500m) in a single day of trading oil futures when prices briefly went negative earlier this year.
The traders, all affiliated with the small trading firm Vega Capital London, hit the jackpot by capitalising on complex oil market mechanisms to sell oil contracts on falling prices and buy with prices as low as minus $37.
Aristos "Ari" Demetriou, 31; Elliot Pickering, 25, and Connor Younger, 22, pocketed more than $100m each, according to reports, even as other investors lost millions as prices fell.
Their success has caught the eye of regulators at the Commodity Futures Trading Commission in Washington DC who are examining Vega Capital according to Bloomberg, which first reported their profits.
A lawyer for several of the traders told Bloomberg they vehemently deny any wrongdoing and traded based on "blaring" market signals.
...
News of their trades was spread through online chatrooms. They were in stark contrast to giants including the Bank of China, which reportedly lost about $1bn from the collapse in oil prices, triggering anger among those who had invested into its Crude Oil Treasure investment fund.