WTI crude is in negative territory

Discussion in 'Oilfield Trucking Forum' started by The Crossword Trucker, Apr 20, 2020.

  1. The Crossword Trucker

    The Crossword Trucker Medium Load Member

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    I did not even know this was possible.
    I guess this is the worst bust in history ?
     
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  3. The Crossword Trucker

    The Crossword Trucker Medium Load Member

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    Forgot to add that my prayers are with my brothers in the oil fields today. I have always wanted to work next to there , maybe next year.
     
  4. snowwy

    snowwy Road Train Member

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    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
     
  5. x1Heavy

    x1Heavy Road Train Member

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    White County, Arkansas
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    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.
     
  6. Lazer

    Lazer Light Load Member

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    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.
     
  7. Lazer

    Lazer Light Load Member

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    Let’s hope the drop in crude prices finally puts the death nail in the money pit ethanol industry.
     
  8. x1Heavy

    x1Heavy Road Train Member

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    White County, Arkansas
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    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.
     
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  9. truckdriver31

    truckdriver31 Road Train Member

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    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
     
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  10. tommymonza

    tommymonza Road Train Member

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    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.
     
    Rideandrepair, alds and truckdriver31 Thank this.
  11. x1Heavy

    x1Heavy Road Train Member

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    I prefer 93 myself or better.

    I have not used regular gas in so long.

    Ty for catching that minor detail. It escaped me.
     
    Rideandrepair and truckdriver31 Thank this.
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