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U.S. oil falls more than 10% to lows not seen since 1999
Reuters ^
| 19 April 2020
| Florence Tan
Posted on 04/19/2020 7:58:47 PM PDT by MeneMeneTekelUpharsin
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Financial news for those who follow it. This is signficant.
To: MeneMeneTekelUpharsin
The price at the pump (including the outrageous gas taxes where I live) should still be 30 or 40 cents lower from what I can figure.
Maybe my math sucks.
2
posted on
04/19/2020 8:03:12 PM PDT
by
dp0622
(Radicals, racists dont point fingers at me I'm a small town white boy Just tryin to make ends meet)
To: MeneMeneTekelUpharsin
So, why is the price at the pump rising steadily?
To: MeneMeneTekelUpharsin
This is a temporary a boon for the consumer. Especially the trucking industry working 24/7 to get product to the store shelves. However, it is a Disaster for US Oil Producers.
4
posted on
04/19/2020 8:05:01 PM PDT
by
ocrp1982
To: MeneMeneTekelUpharsin
Still $2.95 in Kalifornia.
5
posted on
04/19/2020 8:08:57 PM PDT
by
samadams2000
(Get your houses in order.)
To: MeneMeneTekelUpharsin
There goes the stock market.
6
posted on
04/19/2020 8:09:08 PM PDT
by
Jane Long
(Praise God, from whom ALL blessings flow.)
To: MeneMeneTekelUpharsin
Has the Strategic Petroleum Reserve been topped off yet?
7
posted on
04/19/2020 8:13:00 PM PDT
by
Pontiac
(The welfare state must fail because it is contrary to human nature and diminishes the human spirit)
To: samadams2000
$1.10 /gal in Arkansas today.
8
posted on
04/19/2020 8:14:45 PM PDT
by
BipolarBob
(Don't cough on your keyboard because everybodys virus protection may not be updated.)
To: MeneMeneTekelUpharsin
I bought a load of RRC in 1999 / 2000..
Told my BIL to buy it too....He didn't...
I own some RRC again....and others.
We shall see....
9
posted on
04/19/2020 8:15:29 PM PDT
by
Osage Orange
(Mar's isn't a place to raise your kid...)
To: MeneMeneTekelUpharsin
Yeah. And we cant even benefit. Figures. I filled up 2 weeks ago and it barely budged. Going 6 miles round trip once a week for groceries will not do to much damage gas wise.
10
posted on
04/19/2020 8:15:37 PM PDT
by
napscoordinator
(Trump/Hunter, jr for President/Vice President 2016)
To: Pontiac
Has the Strategic Petroleum Reserve been topped off yet?There were funds in the COVID-19 relief bill to help fill it, taking advantage of the low current oil prices. However, Chuck Schumer had it removed on a cloture vote in the Senate.
11
posted on
04/19/2020 8:15:49 PM PDT
by
Gideon7
To: Osage Orange
What are RRC? I bought Exxon last week and carnival twice in the last two weeks.
12
posted on
04/19/2020 8:17:40 PM PDT
by
napscoordinator
(Trump/Hunter, jr for President/Vice President 2016)
To: samadams2000
most of that is STATE taxes
To: dp0622
The price at the pump (including the outrageous gas taxes where I live) should still be 30 or 40 cents lower from what I can figure. Maybe my math sucks.
I can remember 1999 gas prices because i had a long commute in those days. Here in the S.F. Bay Area back then regular gas was around $1.50 per gallon. Now, despite similar crude prices, regular gas is around $2.50 / gallon. Go figure.
To: ocrp1982
Folks do not realize that a lot of wells cant be shut down.
They lose the pressure if they do.
So they pump at a loss.
15
posted on
04/19/2020 8:20:22 PM PDT
by
crz
To: MeneMeneTekelUpharsin
WOW! $15/bbl. I never thought that would ever happen again.
16
posted on
04/19/2020 8:20:58 PM PDT
by
know.your.why
( If love is blind then marriage is an institution for the blind)
To: Gideon7
Oh, that makes sense. Had make sure that there was money available for the Kennedy Center.
17
posted on
04/19/2020 8:21:58 PM PDT
by
Pontiac
(The welfare state must fail because it is contrary to human nature and diminishes the human spirit)
To: know.your.why
As I stated earlier on this thread it is a Temporary boon to the consumer. However, it is a DISASTER for US Petroleum companies.
It will Bankrupt many of the mid-sized companies that are responsible for our recent energy independence.
The Fracking boom of the last several years was driven by those companies. They were the driving force behind our energy resurgence. Not the Big Companies who move slowly, at a Glacial Pace with their Fingers in the Air.
18
posted on
04/19/2020 8:31:18 PM PDT
by
ocrp1982
To: MeneMeneTekelUpharsin
I paid 60 cents a gallon yesterday with all my grocery store points. Been buying stuff for kids & elderly parents. Wish I had more gas cans to load up.
19
posted on
04/19/2020 8:32:50 PM PDT
by
P.O.E.
(Pray for America)
To: MeneMeneTekelUpharsin
perhaps someone could lookup the recent
123 crack spread, and post it here.
I think it would answer a lot of questions.
my internet skills are limited.
thanks
Rocky
20
posted on
04/19/2020 8:36:50 PM PDT
by
RockyTx
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