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Nairaland Forum / Nairaland / General / Politics / WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel (1243 Views)
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WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 8:55pm On Apr 20, 2020 |
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading. https://www.bloomberg.com/news/articles/2020-04-19/oil-drops-to-18-year-low-on-global-demand-crunch-storage-woes?srnd=premium&sref=xuVirdpv&utm_campaign=socialflow-organic&cmpid=socialflow-twitter-business&utm_source=twitter&utm_medium=social&utm_content=business
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Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Corporate2020: 8:56pm On Apr 20, 2020 |
Very soon, our oyel people will start hawking crude oil in Lagos holdups. But wait ooo, I saw Asari Dokuboh and Ateke Tom on 3rd Mainland Bridge this evening with a 50 litres jerry can filll with a black oily substance. Could they be hawking crude oil already? I wonder, I just wonder. 1 Like |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by josh123(m): 9:00pm On Apr 20, 2020 |
How can i buy 50 barrels of oil. I need to store and keep |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:01pm On Apr 20, 2020 |
More;
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Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:02pm On Apr 20, 2020 |
josh123: Where you wan store am? |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by josh123(m): 9:06pm On Apr 20, 2020 |
TheKingIsHere:I get store |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by olaboy33(m): 9:07pm On Apr 20, 2020 |
Very misleading report. This is only in US oil trading and particularly in west Texas. Brent oil price in the international market as of today is still well above $20 per barrel. Please don't create unnecessary panic to the one on ground already. |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Melezenawii: 9:09pm On Apr 20, 2020 |
Niger Delta Oil has negative value for now....they are now beggars |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Kamani8: 9:10pm On Apr 20, 2020 |
our oil o The last has not been heard of covid 19 and its effects |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:12pm On Apr 20, 2020 |
More comments;
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Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by LarryBee1k: 9:13pm On Apr 20, 2020 |
When we fail to plan for the future. The future will plan to fail us. Hope we can drink our oil now.
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Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by RapistOnBail: 9:15pm On Apr 20, 2020 |
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Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:16pm On Apr 20, 2020 |
LarryBee1k: With the way things are, Nigeria is finshed |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Aflix(m): 9:16pm On Apr 20, 2020 |
Can they not just stop production for now? |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by VeeVeeMyLuv(m): 9:19pm On Apr 20, 2020 |
Time for massive buying |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:19pm On Apr 20, 2020 |
Aflix: What will happen to a country like Nigeria that solely depends on oil production? |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Nobody: 9:23pm On Apr 20, 2020 |
olaboy33:Don't mind the idiot.He doesn't know the difference between WTI and Bonny light.This is what free data causes |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by AlfaSeltzer(m): 9:24pm On Apr 20, 2020 |
The Zoo shall die. This thing they sent their ancestors to come and kill my people for is now less than worthless. Thank You Satan. Thank you Amadioha. |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:28pm On Apr 20, 2020 |
olaboy33: How is it a misleading report? Is the oil price not falling into negative USA right now? It is currently trending on twitter https://twitter.com/NishadiL87/status/1252327814881095680
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Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by ponziponzi(m): 9:30pm On Apr 20, 2020 |
VeeVeeMyLuv: Buying? No one is buying, people will even pay you to take it. This is just WTI crude not sure it affects Brent crude to that extent |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Mysticwebb: 9:31pm On Apr 20, 2020 |
In a layman term, this literally means if I buy a barrel of crude oil, I will get the oil free and still collect $35. Those who have an open trade on crude will come back to see their dollars flying out through the windows. Coro, well done ooo. You have done it again. Another feather to your crown. |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Eteka1(m): 9:32pm On Apr 20, 2020 |
olaboy33:That's the price for the type/grade of crude oil the US produces. It's called West Texas Intermediate (WTI). WTI is slightly heavier with different sulfur content from Brent Crude which is produced in Nigeria. |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by GamalNasser: 9:33pm On Apr 20, 2020 |
Mysticwebb: Nigeria is in a bad place |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by udemzyudex(m): 9:34pm On Apr 20, 2020 |
TheKingIsHere: Read his post again. |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by TheKingIsHere: 9:37pm On Apr 20, 2020 |
udemzyudex: I read it. He still justified the post which is about WTI, so i don't know why he is complaining about misleading |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by VeeVeeMyLuv(m): 9:39pm On Apr 20, 2020 |
ponziponzi:after Covid |
Re: WTI Oil Plunges Below Zero For First Time, Sells At -$35 Per Barrel by Mynd44: 9:48pm On Apr 20, 2020 |
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