WTI crude is in negative territory

I was surprised when I heard the news.

Now if we could just get fuel to go negative. Eh.

-$36 to end the day -$11

 

Only in Texas. And not necessarily.

Cushing Storage is full and all other global storage is brimming.

They will pay you to take away the oil at that value.

Brent and other benchmarks are still in positive territory. The problems become much worse towards Sept when about a total of half a billion are in need of storage by then. No storage no oil at any price.

By same token we have so much natural gas that we cannot give it away, our best hope is the people get hot in the midwest and crank the air conditioners so we can burn it all in the power plant.

 

Watched an interview earlier today with John Hoffmeister(former pres of Shell Oil), he stated that there must have been a ‘big trader’ in the oils that was going long on oil, but today was last day to deal May futures and that trader needed to dump at all costs and flooded the futures. He said we may know by the end of this week who that brokerage firm was by noticing who files for bankruptcy.

 

Let’s hope the drop in crude prices finally puts the death nail in the money pit ethanol industry.

 

You can buy non ethanol gasoline in the old fashioned mix at the walmart marathon in Searcy AR. Since I only fill once every 3 years or so I make the drive to fill there. 25 or so gallons of it.

 

still 87 tho. i like running 93 ethanol or 89 non ethanol. 87 can make a vehicle knock or ping. wish i could run 93 non ethanol

 

Sure would be nice to be able to buy 100 octane for a buck instead of 6 bucks a gallon.

I would build a hot little supercharged 6.0 LS motor for my boat.

 

I prefer 93 myself or better.

I have not used regular gas in so long.

Ty for catching that minor detail. It escaped me.