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Nairaland Forum / Nairaland / General / Business / Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel (1705 Views)
Oil Price Risen To $93 Per Barrel Highest In Seven Years / Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria / Crude Oil Trades Above $75 Per Barrel As Netanyahu Point Finger At Iran (2) (3) (4)
Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 7:39pm On Apr 20, 2020 |
Who has ever seen a 1 cent per barrel crude oil price? It is playing out before our very eyes. The product is now briefly worthless in the international market! 1 Like
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Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by pfadom: 7:45pm On Apr 20, 2020 |
Cite the source of the information or we consider it FAKE NEWS!!! |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Staphylococcus: 7:45pm On Apr 20, 2020 |
It's becoming scary... Doom at sight. I pity Nigeria. If it goes worse. It's gonna be catastrophic 1 Like |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Staphylococcus: 7:46pm On Apr 20, 2020 |
2 Likes |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Native101: 7:47pm On Apr 20, 2020 |
It's heading for a negative sign! Unprecedented predicament, this. |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 7:48pm On Apr 20, 2020 |
pfadom: I am showing you a live chart from Tradingview and you are asking for source...keep asking. Your country will soon declare bankruptcy and you will still be asking for source. 1 Like |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by monapeniel(f): 7:51pm On Apr 20, 2020 |
It's true. Saw it on Bloomberg |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by philiancoop(m): 8:14pm On Apr 20, 2020 |
Otedollar |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Samyj247: 8:18pm On Apr 20, 2020 |
stagger:that's not crude oil price. crude oil is currently at $20 per barrel. Nairaland admin that took that fake news on crude oil price to front page, clearly shows that nairaland admin doesn't know what's happening in the business world but deceiving the public with misinformation. The chart you displayed is not the main crude oil price. I believe you are still a newbie in trading. crude oil is $20.9 per barrel now. 5 Likes |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by philiancoop(m): 8:21pm On Apr 20, 2020 |
stagger:No mind the guy he knows nothing about the financial market 1 Like |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by fulaniHERDSman(m): 8:22pm On Apr 20, 2020 |
Same Frankenstein of 1983 overseeing a worse time in the life of this country. What a cursed man! |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by excanny: 8:30pm On Apr 20, 2020 |
Samyj247: There are different types of crude oil Oga. All these prices given are correct, but its because people are not moving again so the demand is low and price will be low too. It will pick up again fast once COVID-19 is gone. 3 Likes 2 Shares |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 8:36pm On Apr 20, 2020 |
Samyj247: Since you are a pro in trading, can you spot the technical patterns on this chart and put them up for the "newbies" in trading to see?
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Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 8:38pm On Apr 20, 2020 |
excanny:I do not even want to answer him. Let him answer the question I have posed for him above. I am ready to take him to the cleaners. |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Samyj247: 8:38pm On Apr 20, 2020 |
excanny:there is a difference between WTI and Brent crude..but u guys makes it looks as if its the main crude I.e Brent crude that crashed. na wa o. If you don't understand what the news entails, don't spread fake news and add ur own jara. I was shocked when I saw that oil price crashed to $11 on front page. The title is misleading and I believe ignorant Nigerians must have spread the fake interpretation everywhere. 5 Likes 1 Share |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 8:43pm On Apr 20, 2020 |
Samyj247: My friend we are not talking about the difference between Brent crude, which is the world crude oil benchmark, and West Texas Intermediate. I asked you a question and showed you a simple weekly chart for BP. Trace the technical patterns on this chart and prove you are a trader first, before you call others newbies. 1 Like |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Samyj247: 8:45pm On Apr 20, 2020 |
stagger:kids I am out of here. I just want to correct u guys and also correct nairaland admins mynd44 and the rest should take note. I was totally disappointed when I saw on front page that oil price is now $11 per barrel. na newsbies like una weh no know wetin de sup go see news interpret as u like con spread am even when u don't understand what the news is saying. |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Cargoed: 8:46pm On Apr 20, 2020 |
The sooner you come to reality the better for you. How many people are buying Brent price of $20now. Crude price is now Negative. What does that mesn? If you are an oil company you have to pay a buyer to take it and store it for you. That's why it's technically Usd0.01 No body is buying bonnylight or forcados. Nigeria will have to pay for someone to take it and store for them hence the negative price. If not the Oil companies will shut down and declare bankrupt. leave your computer and visit Texas or Bonny and see what is happening. That graph is 100% correct. https://gulfnews.com/business/energy/crude-oil-prices-plunge-below-zero-for-first-time-in-unprecedented-wipeout-1.1587403968035 1 Like |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by excanny: 8:46pm On Apr 20, 2020 |
Samyj247: Still don't understand why you quoted me. Cos I clearly stated that there were different types of crude oil. |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by zig2ryme04: 9:00pm On Apr 20, 2020 |
Current price is 0.07 1 Share
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Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 9:01pm On Apr 20, 2020 |
Samyj247: You called me a newbie. Since you are a pro in commodity pricing and trading, I have called you out now to do a simple test on your knowledge of trading and you are running. Tomorrow call another person newbie again. Since you cannot pass the test, I will do it for you. Take this as a basic lesson on chart patterns. Can you name all the patterns I have marked for you to identify. Since you are pro trader, this should not be hard for you. 1 Like
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Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 9:05pm On Apr 20, 2020 |
Samyj247: let me make the trends and price targets clearer to help you. a) Identify the patterns b) Identify the arrows and what they mean. Prove to us how much of a pro trader you are.
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Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 9:15pm On Apr 20, 2020 |
Where is the pro trader who says I am a newbie in trading but is having a hard time taking up my challenge? |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by weedfada(m): 9:32am On Apr 21, 2020 |
stagger: Chai! Bros, pity the guy naaa. Lol... Guess he didn't know he was getting into a booby trap. |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 11:59am On Apr 21, 2020 |
weedfada: Don't mind him. Imagine him calling me a newbie. Whereas he himself knows nothing, nada, zilch about trading. 1 Like 1 Share |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by Plut01: 4:54pm On Apr 21, 2020 |
Good time for people with money to invest in Oil stock. Money why did you depart me? Money why?? 1 Like 1 Share |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by grandstar(m): 8:49pm On Apr 21, 2020 |
Plut01: I think options would even be more profitable. I would have invested in options if Bonny Light falls to like $18. I doubt it can go lower than that. Before the world's lockdown will truly begin to wind down, add another 1 month but I would actually say 3 months. Even if the government begins to lift restrictions, if the citizens of the rich would don't feel safe, it would hurt consumer spending. It will take about 6 months before there's enough confidence for part of the world to start humming again. |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by stagger: 2:36am On Apr 22, 2020 |
grandstar: I love options, but would have to study which of the various options would work for me. Also, I need a broker that can provide access to unlimited options. I once tried credit spreads on EasyMarkets on a demo account and I liked the results. Unfortunately looks like they took it off. 1 Like |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by ElectronicMoney(m): 5:27am On May 13, 2020 |
excanny: It may get to late 2020 or even 2021 before the price of crude oil picks up again |
Re: Crude Oil Contract Is Now Worthless: WTI Falls To 1 Cent Per Barrel by AlphaTaikun: 7:18am On Apr 12, 2022 |
Cargoed:True that. |
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