Why Oil Prices Can Turn Negative

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CNBC

CNBC

3 роки тому

On April 20th, the effects of the pandemic and a price war between Saudi Arabia and Russia forced oil prices to sink below zero and into the negative territory for the first time in history. The unprecedented loss put countless retail investors and the American economy under a great financial risk. Although experts suggest it is unlikely to happen again since oil prices recorded its best month yet in May, it gives a glimpse into the inner workings of the oil trade industry and the dangers of the futures market.
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Why Oil Prices Can Turn Negative

КОМЕНТАРІ: 507
@cat-.-
@cat-.- 3 роки тому
Next time i go to the gas station, I expect to see: Sales: 12.5 Gal Price: -$30, credit will show up on your statement in 7 days
@jonah5839
@jonah5839 3 роки тому
I thought America ran on Dunkin
@crazy9932
@crazy9932 3 роки тому
Nice lol
@KOLAkola
@KOLAkola 3 роки тому
🍩☕️
@markyouneva7840
@markyouneva7840 3 роки тому
please most Americans who frequent Dunkin can't walk, let alone run.
@user-rj1qg2if7n
@user-rj1qg2if7n 3 роки тому
Oh but it does
@methanesulfonic
@methanesulfonic 3 роки тому
america dont run, they're too fat
@melanieorduna5672
@melanieorduna5672 3 роки тому
why is everyone wearing these cheap cloth masks that dont actually protect you from droplets. get better masks people i use buymasks.equipment
@andrewr2773
@andrewr2773 3 роки тому
stfu
@beastern1807
@beastern1807 3 роки тому
That is a bot
@ghostdance56
@ghostdance56 3 роки тому
it matters how you wear and handle them too. there are as yet are no studies to indicate whether wearing them has made any difference whatsoever anyway. it's blind faith at best.
@mickaelburguet4686
@mickaelburguet4686 3 роки тому
You are 2 months late tho
@TheUnknownHarbingers
@TheUnknownHarbingers 3 роки тому
yea I'm seeing $2+ gas in some locations in Atlanta
@juanzingarello4005
@juanzingarello4005 3 роки тому
I was just going to say. Hasn't the price war gone already with OPEC and Russia agreeing to cut production?
@davidmartineztorres8731
@davidmartineztorres8731 3 роки тому
@@TheUnknownHarbingers because gasoline is a derivative of petroleum. Processing petroleum into gasoline has fix costs and those fix costs will never go.
@rlo2367
@rlo2367 3 роки тому
@@TheUnknownHarbingers same in Indiana
@lorrieruff4402
@lorrieruff4402 3 роки тому
You know I can't feel sorry for these companies. All the way back in the 1970's the claim that we will be out of oil by the year 2000. Claiming of a oil shortage brought prices rocketing to a high. Long lines at gas stations. The end of the era of Muscle cars, and the start of small engines. I think it was a way to over come the extra cost of replacing lead in the gas to make it better preforming. Now the claim is that in the 1980s it was for the pollution control devices would get clogged up. Another concern also knowing that adding lead to the astrosphere caused lead poisoning. After removing lead from gas. The level of lead in the blood of Americans, has dropped over 75%. That is a large number. We can not ignore.
@mahmudulislam3488
@mahmudulislam3488 3 роки тому
So you are just a moron who wants to use as much gas as possible?? Those small engines were efficient and didn't cost our planet like you do. Think more about nature and when gas is finally run out. The fact that gas will be gone by the 2000s pushed car companies to invest in electric cars elwe see today.
@stufflol3317
@stufflol3317 3 роки тому
U know whats funny though... These newer cars with small engines have quicker acceleration and higher top speed, all while being more gas efficient, than your old boomer's dream car. LMAO get rekt boomers
@mahmudulislam3488
@mahmudulislam3488 3 роки тому
@@stufflol3317 Boomer's don't accept the facts. They are just blind idiots.
@avigindratt7608
@avigindratt7608 3 роки тому
all capitalists ignore it, pollution is considered an externality.
@mahmudulislam3488
@mahmudulislam3488 3 роки тому
@Jack Richardson Dude I was not talking about you. I was talking about the person who wrote the comment in the first place.
@markrodriquez6447
@markrodriquez6447 3 роки тому
Unlike other commodities like milk, you cannot just dump oil down the drain. You have to store it, which costs money. During the time of the crash, due to a shortage of storage, it was cheaper to pay someone to take oil off your hands instead of paying huge storage tankers to float around in the ocean
@panda_fan23
@panda_fan23 11 місяців тому
stop wasting food that is not good. don't dump milk down the drain. Store it in your fridge!!!!
@giantasparagus
@giantasparagus 2 роки тому
This aged well..
@artenman
@artenman 3 роки тому
Gas prices go down negative yet in California they manage to still go up
@LordVader066
@LordVader066 3 роки тому
That's Hollywood Elites and Democrats for you
@abhigyanghosh9330
@abhigyanghosh9330 3 роки тому
I think that might be due to the fact that Cali is not so dependent on gas as a lot of the energy requirements are met by alternative sources. So the demand was steady even when in other parts of the country which were more dependent on oil, suddenly faced a lack in demand
@ULOOKN
@ULOOKN 3 роки тому
artenman 😂
@MDAdams72668
@MDAdams72668 3 роки тому
Taxes LOL
@markyouneva7840
@markyouneva7840 3 роки тому
Did he say the US economy runs on oil? I thought it ran on entrepreneurial spirit and free enterprise with a sprinkling of fairy dust.
@JennyA
@JennyA 3 роки тому
No that's not right, it runs on Freedom. ;)
@ladytron9188
@ladytron9188 3 роки тому
Unicorns don’t run on oil.
@avigindratt7608
@avigindratt7608 3 роки тому
@@JennyA freedom to take freedom.
@idyllsend6481
@idyllsend6481 3 роки тому
@@JennyA Freedom and guns, yeeeeeeeeeeehaw.
@Puzzoozoo
@Puzzoozoo 3 роки тому
More likely it runs on Usury. oy vey.
@Big_Computer
@Big_Computer 3 роки тому
We are living History boys
@Dptl
@Dptl 3 роки тому
@Robin Hugli i can tell the narrator is a nerd speaker from china.
@TENNSUMITSUMA
@TENNSUMITSUMA 3 роки тому
@@Dptl i don't get it!
@lepetitroquet9410
@lepetitroquet9410 3 роки тому
Hum... the price of oil is at about $37 per barrel and the economy is waking up (despite the surge in cases, but hey...just human lives apparently) so the price is unlikely to go down. In a broader view, yes, history indeed. There was the bronze era, the industrial era, the information era and now we are witnessing the idiocracy era with trump as the personification of said era. But this video is about the price of oil.
@dasfun2243
@dasfun2243 3 роки тому
I hope historians dont call this era something like "The turmoil years" or "The chaotic era" or something. They should respect the genZ and call it the "Dogshit 20s" or something..
@alphaomega1671
@alphaomega1671 3 роки тому
@@lepetitroquet9410idiocracy is great prediction of the future
@captiantim1
@captiantim1 3 роки тому
Negative prices never made it to the pump . Wtf.
@NoName-de1fn
@NoName-de1fn 3 роки тому
Too bad, right? 😘
@SandipanNath123
@SandipanNath123 3 роки тому
Because you don't get Crude Oil in pumps.
@cxrcraig3
@cxrcraig3 3 роки тому
@@SandipanNath123 😂😫😂
@the_one_titan3381
@the_one_titan3381 3 роки тому
It cost money to refine crude oil, then transport it
@yungactivist
@yungactivist 3 роки тому
Man gas prices were 1.25 and now their 1.95???😂😂😂
@kylarbennett5605
@kylarbennett5605 3 роки тому
I just realised that the day the oil price dropped 300% is the 10 year anniversary of the deep water horizon disaster
@RayMak
@RayMak 3 роки тому
It's going back up now. Rapidly
@ArcticZombie
@ArcticZombie 3 роки тому
woulda been a good time to invest.
@thesilentone4024
@thesilentone4024 3 роки тому
Ya 3.25$ like wtf it was 2.97 literally 5 days ago
@voltskrafty8936
@voltskrafty8936 2 роки тому
@@thesilentone4024 5.60 in Manhattan 😢
@thesilentone4024
@thesilentone4024 2 роки тому
@@voltskrafty8936 ya I moved from vages its 4.98 down there now were im at its 3.50 now.
@tanojatmakuri380
@tanojatmakuri380 3 роки тому
Isn’t this good for everyone that doesn’t have stocks in oil. Less money for gas! Edit: Guys I didn’t know about this. Please stop the hate.
@biplabkumarghosh6300
@biplabkumarghosh6300 3 роки тому
Well, then nobody would produce/mine oil, leading to even higher prices
@jascrandom9855
@jascrandom9855 3 роки тому
Not nescesarily. This was just the price of crude Oil. The fuel that you put into your car is a refined product, which still cost money and energy to make.
@ishaanlol
@ishaanlol 3 роки тому
Fire Temper your brain functions like how I expect someone with a fortnite picture to
@Lvlaple4Ever
@Lvlaple4Ever 3 роки тому
Not the eco terrorists.
@MrTapk
@MrTapk 3 роки тому
It's actually terrible. Fuel is not really expensive, it's the taxes that make it expensive. In Europe our governments need that tax money coming.
@TheJeffMelvin
@TheJeffMelvin 3 роки тому
Who did the music? I need this mix ASAP!!
@arjelbrianagustin4482
@arjelbrianagustin4482 3 роки тому
Gas here in NorCal is $2.57 @ Costco
@stephd3002
@stephd3002 3 роки тому
Arjel Brian Agustin yes sir! Would love a deep drop in price
@jonathanwang6230
@jonathanwang6230 3 роки тому
Still around $3.00 in Los Angeles area. I guess that's still better than $3.50 or $3.70.
@erikgonzalez2278
@erikgonzalez2278 3 роки тому
Jonathan Wang yes sir here in Ventura it's still $3.
@nelsonta00
@nelsonta00 3 роки тому
San Gabriel Valley (SoCal) gas price is roughly 2.69-2.89, depending which gas station you go to
@johnqueen2754
@johnqueen2754 3 роки тому
I’m in North Carolina, gas is 1.75
@bearatts
@bearatts 3 роки тому
If the prices are going down, why has the price of gasoline gone up here in Colorado by 70 cents in the last 3 weeks?
@dnguyen787
@dnguyen787 3 роки тому
The price is in the future, not now.:-)
@jeffperteet2327
@jeffperteet2327 3 роки тому
gouging while they can
@blvdsantana2741
@blvdsantana2741 3 роки тому
bearatts same here in california
@michelinman8592
@michelinman8592 2 роки тому
The lowest price I paid in Michigan in 2020 was about $1.10/gallon. It'd be nice if those prices were to come back!
@RajeshYadav-to5zq
@RajeshYadav-to5zq Рік тому
Keep dreaming 🤣
@dontmindmejustgoon9806
@dontmindmejustgoon9806 3 роки тому
Government: Stay at home Dads: buy barrels of oil at the nearest station
@jonathanbrotto7278
@jonathanbrotto7278 3 роки тому
Not so exciting when it happen two months ago.
@triadwarfare
@triadwarfare 3 роки тому
And yet, here in the Philippines, the price for gas is slowly increasing. I would love oil companies to pay me to top up my motorcycles though.
@gigachadzemin5086
@gigachadzemin5086 3 роки тому
Totoo yan
@iwantcoconutv2877
@iwantcoconutv2877 3 роки тому
Welp 2nd wave lockdown will come here means people will stay at home more often.
@willliam1420
@willliam1420 3 роки тому
Tax increased though, grabe govt natin
@danielroy5987
@danielroy5987 3 роки тому
Here in USA price of gas going up too I think there late on there video announcement
@vahanbabayan9412
@vahanbabayan9412 3 роки тому
By clarifying the expectations of different professionals, I want to suggest another point of why oil prices will not stay too low. According to various sources, airplanes use 7.8%, marine ships use 6.7%, passenger cars, and freight vehicles use 49.3% of oil consumption of the World yearly. How much can the World survive with the quarantine? Not more than a few months. After this, all the oil-users mentioned above will start to use more quantities than before. Even if electric vehicles begin to be spread, they cannot harm the oil economy, at least for the upcoming decade. The physics show that airplanes cannot work efficiently with electric power, so the life of the oil and its price is not close to its end yet.
@moviesjean23
@moviesjean23 3 роки тому
Say hello to my little electric friend
@NolaH-sb4vf
@NolaH-sb4vf 3 роки тому
That takes about 30 barrel of oil to produce
@moviesjean23
@moviesjean23 3 роки тому
Nola0187 H Nola drink some oil
@NoName-de1fn
@NoName-de1fn 3 роки тому
@@NolaH-sb4vf Not neccessarily. There are many ways of harvesting electricity.
@ScrapKing73
@ScrapKing73 3 роки тому
@@NolaH-sb4vf Not where I live, 97% of British Columbia's power grid is hydroelectric. Nationwide, 81% of Canada's power grid is not based on fossil fuels. Investment in renewables is accelerating in many markets
@dereenaldoambun9158
@dereenaldoambun9158 3 роки тому
@@NolaH-sb4vf Hydroelectric Dam: Joke on you!
@isaacisaac6666
@isaacisaac6666 3 роки тому
Brent crude oil is around 39$ as on today, not sure that this report is updated.
@cekseh
@cekseh 3 роки тому
This video is not live. It is reporting on a specific event. It was not saying that oil will remain at the same price for eternity. That isn't how anything works.
@philipthomas6808
@philipthomas6808 3 роки тому
Is that the Houston Ship Channel at 9:43 ?
@DougAlesUSA
@DougAlesUSA 3 роки тому
Ironic that this *cough EXPERT cough* waited until after it actually happened before explaining it could happen.
@jamesbra4410
@jamesbra4410 3 роки тому
Nice to know I can get my tank filled in order to buy some snacks and coffee.
@thomasjacob5230
@thomasjacob5230 2 роки тому
What do you think of the future market of crude oil now? Is there any chance for this to get down back to -ve %? And please do let me know the channel for buying this oil shares..... Appreciate your reply.. Thanks
@NishankSingla
@NishankSingla 3 роки тому
If the crude oil price went negative, then why the gas prices didn't drop? I just noticed price drop at Costco for premium gas in Northern California which was $2.69 - $2.79 at the same time Shell, Chevron was still at around $3.69 which was still too high considering the negative price. So did the negative crude oil price really had any effect on gas prices or at the other dependent products prices? I understand it was the biggest event of history but where are the statistics of the effects of this event?
@Livin4Jesus00
@Livin4Jesus00 2 роки тому
I wondered the same thing! Why does it not reflect at the pump?? I get that the refining process and transportation isn't cheap, but even then it should show a significant drop. (I know my response is late, but with the rising prices now, I look back at 2020 and wonder what happened)
@vympelgru4159
@vympelgru4159 3 роки тому
When I read the title I thought gas stations would pay us for filling up our gas tanks😂
@pukarkhatiwada
@pukarkhatiwada 3 роки тому
Could you please do brief about Holden and GM in Australia
@felixf4378
@felixf4378 3 роки тому
Now you tell me, when I already bought a bunch of future contracts at $0 (oil price) thinking it would only go up from here.
@ravivarman97
@ravivarman97 3 роки тому
Indian Oil Prices are still high even after filling the whole india's storage
@abhikshitdas
@abhikshitdas 3 роки тому
YEAH!!! I'M SO ANGRY ABOUT THIS!!!!!!!!
@syedmohsin18
@syedmohsin18 3 роки тому
Goverment is out of cash and it needs exhorbant tax on fuel. I hate this government with all my heart but let them earn through oil or there would b chaos whole economy could collapse
@matrix2678
@matrix2678 3 роки тому
Its done to make solar cheap and increase debt
@matrix2678
@matrix2678 3 роки тому
@@syedmohsin18 Goverment is out of cash- it never can, it never will
@nanuarora2401
@nanuarora2401 3 роки тому
Wah modiji wah
@iamedyson
@iamedyson 3 роки тому
Everyone just buy a bike to ride to work, grocery stores or home. Screw your vehicles and gasoline. Work and travel locally.
@rugbyklubbratislava8906
@rugbyklubbratislava8906 3 роки тому
When CNBC journalist can't afford a webcam and headset
@waycoolscootaloo
@waycoolscootaloo 3 роки тому
At the end of April, I bought gas for just $0.92 cents a gallon here in the Milwaukee Wisconsin area. (£0.19 per liter) Today (6/15/2020) I bought it for $1.88 a gallon in the same area. (£0.39 per liter) 🙂
@FireEverLiving
@FireEverLiving 3 роки тому
This video is a bit outdated, futures prices are more than double where they were in April. Also, depending on your state, over half of the gas price can be tax.
@Feynman981
@Feynman981 3 роки тому
We must switch immediately to EVs. With that low prices and so many bankrupt companies, oil won‘t be around anymore for long.
@gigachadzemin5086
@gigachadzemin5086 3 роки тому
You really think oil wont be here for long they"ll still be here what will power the airplanes, the boats and in the future what will power our spaceships remember we still don't have pulse energy which may take thousands to millions of years or may not even be invented so if you think of it oil will still be here
@Feynman981
@Feynman981 3 роки тому
Just to clarify, I talk about the oil industry, not oil itself. The low oil prices way below the manufacturing costs and a projected low demand for the next few quarters will let several oil companies go bankrupt and increases the debt burden of existing ones. Ultimately crushing margins. Those future outlooks will draw investors away from oil business and to other fields. EVs, solar and battery power provide an interesting alternative because they generate high margins, have a stable future outlook and they are disruptors of the energy market.
@TheRusschannel
@TheRusschannel 3 роки тому
Futures on commodities are not like stocks. If your left holding the expired contract you MUST take possession of that commodity! In this case oil... So if your an investor, and you dont have a huge back yard (and local codes to store it) to put the oil, corn,soy, ect.. then you will pay anything to get rid of it!
@jerrywen5333
@jerrywen5333 3 роки тому
6:50 is the left side of his neck irregular or is it just me??
@Hangman149
@Hangman149 3 роки тому
I see it too. Maybe someone should ask if hes okay
@johnsradios484
@johnsradios484 3 роки тому
Westchester NY lowest price $2.09 regular. A little bit of a drop but still high IMO
@saulgoodman2018
@saulgoodman2018 3 роки тому
Basically it was because of contracts, and the people reneged on the contracts.
@teslaequals-s.3.x.y188
@teslaequals-s.3.x.y188 3 роки тому
By 2050 no one will use oil will would only use wind energy and solar energy and electricity for all types of transportation.
@gigachadzemin5086
@gigachadzemin5086 3 роки тому
How about the spaceships in the future
@kennymichaelalanya7134
@kennymichaelalanya7134 3 роки тому
By then we'll also be traveling to Mars and other planets
@bgchal4662
@bgchal4662 3 роки тому
WHy the hell am I still paying for gas then???!!!!!!!!!!
@manuelurena7538
@manuelurena7538 3 роки тому
Your money is going to refinary oil company like shell, BP ect and not to OPEC.
@desoztoppieter9895
@desoztoppieter9895 3 роки тому
you are paying taxes
@Bobo-jy5mg
@Bobo-jy5mg 3 роки тому
BG chal there’s a difference between gasoline and oil
@LittleScience123
@LittleScience123 3 роки тому
Because gas stations add markup to their prices to make a profit themselves. add that onto the price the stations pay to buy the fuel themselves and you're still paying a lot more than $0
@rustyshackleford3320
@rustyshackleford3320 3 роки тому
We don't need to worry about low oil prices bow
@felixchavarria8824
@felixchavarria8824 3 роки тому
I don't know where are these gas stations but my 4 local ones all read 3.49 as of 2 days ago June 14th 2020. Just saying
@angelorusso3219
@angelorusso3219 3 роки тому
So if demand has dropped so dramatically since Mar/Apr and the price of a barrel of oil that was $60.91 in December dropped to $18.84 in April, why has the price of gasoline at the pump, say in Florida, only dropped from $2.45/gal to only $1.75/gal? And why, if the market is based on futures and usually 30 days ahead did gas jump 20 cents in 4 days when the barrel price went up slightly last week? Slow to drop, quick to rise... constantly getting ripped off by these oil companies and market fraud!
@liko098
@liko098 3 роки тому
The negative prices make no sense here in Cali. The gasoline went a little down and its gone up almost .45 cents. It makes no sense with this slow economy everything has gone up freaking makes no sense with us here.
@bryanpascual3543
@bryanpascual3543 3 роки тому
I will keep using Hybrid cars until we run the oil reservoir dry.... until then I’ll convert to full EV, FCV, Mr. Fusion, Ion Drive, Hyper Drive, Dark Matter, or Infinity Stones
@AudioFileZ
@AudioFileZ 3 роки тому
I heard in one point in this expose demand is back. How so? Many businesses remain shuttered and quite a few are permanently so. People are not able to take vacations negating the increased summer demand we're always told is the reason for the seasonal rise. By what I can gather by cursory reading there is still a glut of supply. So why are prices rising now almost weekly without being market driven? Is it the latest attempt to prop up the economy? Low interest certainly isn't able to help right now with banks lowering available credit and record numbers of unemployment. If oil was a honest business prices would be going down weekly instead of up it would seem. If there's a more crooked and artificially manipulated industry that affects us all I'd like to know what it is. Even Insurance companies seem somewhat more honest which I can't believe I'm saying.
@zynga123zynga2
@zynga123zynga2 3 роки тому
Maybe "it wasn't possible", it more likely we use wrong method to run economy.
@lighttheoryllc4337
@lighttheoryllc4337 3 роки тому
Sustainable energy and Fusion energy is greatly needed globally
@aznsushi41
@aznsushi41 3 роки тому
She'll and Chevron still $3.49/gallon premium here in bay area, ca
@Skeensh3
@Skeensh3 3 роки тому
When people said before that the industrial age might rapidly deplete fossil fuels, that we should use alternatives like corn oil to stabilize rising fuel prices. When the current Pandemic came, and travel became more restricted, the rising oil prices met an unexpected solution, now it becomes more complicated. Are they saying if crude oil will be hard to store, that gasoline will temporarily be free?
@gerardosalas9477
@gerardosalas9477 3 роки тому
Because of basic economics. Supply and demand.
@chaz4609
@chaz4609 3 роки тому
Need to build more storages if WTI oil turns free or negative agsin.
@escaladeandgmtrucks7577
@escaladeandgmtrucks7577 3 роки тому
That little sad music in the background makes it comical actually more than sad.
@jack6438
@jack6438 3 роки тому
Why not buy the stock when the price is low and then when oil price go up sell it
@gigachadzemin5086
@gigachadzemin5086 3 роки тому
Meanwhile in the Philippines oil became more expensive
@69erone-half50
@69erone-half50 3 роки тому
There are many greedy companies in the Philippines, not just oil companies and retailers.
@gigachadzemin5086
@gigachadzemin5086 3 роки тому
@@69erone-half50 Not really it is mostly because of our corrupt and greedy politicians
@frankmorgan1921
@frankmorgan1921 3 роки тому
I'm wondering why neither of the two benchmark oil index is in the middle east which would make more sense .
@METALMAN4Wii
@METALMAN4Wii 3 роки тому
Still over $2 a gallon here in Michigan there's not free fill up with Slushie!
@Arrbee2016
@Arrbee2016 3 роки тому
why the ghostly tune in the background??
@SimonCU
@SimonCU 3 роки тому
They forgot to say about the price war between Saudi Arabia and Russia
@crazy9932
@crazy9932 3 роки тому
True value.
@somervillearron
@somervillearron 3 роки тому
and in the uk its still 1.30 pounds and $1.62 a litre thats ridiculous
@birseina
@birseina 3 роки тому
very well explained
@JohnSmith-td7hd
@JohnSmith-td7hd 3 роки тому
Local gas prices are not reflecting this, even with so many people out of a job. There's your problem. Make gas $1.50 a gallon and we'll all get gas and use it more.
@Zodqueen
@Zodqueen 3 роки тому
How can I buy 10 of barrels of oil ? 91 premium ??
@funkflexonsoundcloud
@funkflexonsoundcloud 3 роки тому
Because the financial firms & exchanges are corrupt. Negative prices were NEVER in the prospectus. What SEC?
@FireEverLiving
@FireEverLiving 3 роки тому
These are futures contracts, not securities. The SEC has nothing to do with it.
@masonnguyenbook
@masonnguyenbook 3 роки тому
Thank you for your video
@ronaldzent4845
@ronaldzent4845 3 роки тому
Not in California!, You're lucky to find gas anywhere in this state for under $3 bucks a gallon( save for a few independent stations), right now, a Chevron station up the street from me in West Long Beach, CA is selling the lowest grade, unleaded regular for $4.05 per gal
@joycebarnett6035
@joycebarnett6035 3 роки тому
But it will go back up and now is the time to buy stock in oil because it is cheap right now and will go back up. Gas is allready higher at the gas stations I pay sky high in California for gas. Gas stock will go way up and there is a fortune to be made in oil stock right now if you buy stock 6/20/2020 and hold.
@jefferdadula764
@jefferdadula764 3 роки тому
Wrong definition of demand and supply
@r987p
@r987p 3 роки тому
It's up over 50 percent since its low in dallas
@aimeestevenson9686
@aimeestevenson9686 3 роки тому
We will get through this
@WhittyPics
@WhittyPics 3 роки тому
Peter Schiff compared oil to garbage. Producers had to pay to haul it away. Oil companies were a safer bet when this happened. Most brokers wouldn't even allow you to open a contract when this happened
@jigarsangani4380
@jigarsangani4380 3 роки тому
In India price of petrol has increased for 14 straight days
@AmazingDailyWorks
@AmazingDailyWorks 3 роки тому
Oil price is the famous story in economics, always has big problems for developing countries.
@kishorrit
@kishorrit 3 роки тому
Can someone please tell me why falling oil prices around the globe has almost no or little affect on India diesel and petrol prices? I just cannot get it. A small logical explanation would be greatly appreciated.
@FireEverLiving
@FireEverLiving 3 роки тому
The negative prices were an issue unique to the US oil market. Other global oil prices declined, but got nowhere near negative. Furthermore, gasoline is not the same as oil: oil needs to be transported, refined, and transported again before it gets to your pump. And in many places including apparently India, over half of the gas price is tax. So when you account for all of that overhead on top of the raw oil price, you should've seen a small price decline around April, but not as much as the futures prices (and especially the US negative prices) might've led you to believe.
@Pinkielover
@Pinkielover 3 роки тому
yet it went up now its 240 a gallon... i never went down to 1:90
@Yourmom016
@Yourmom016 2 роки тому
Gas is now extremely high throughout America for no reason at all
@vijayaalapati
@vijayaalapati 3 роки тому
Australian Oil Prices are back to normal :(
@fartoxic1
@fartoxic1 3 роки тому
"No need to panic"
@felixgarcia2184
@felixgarcia2184 3 роки тому
Why did they put the most terrifying music in this video
@platypuss619
@platypuss619 3 роки тому
The current rate of oil production and use is more costly than its benefits in the long term of humanity as a whole. For example climate change, another example, oil is used for plastic production. Plastics are tainting our environment and we barely know the long term effects of that, but one things for sure. Animals are not safe from it, so why would we?
@highrzr
@highrzr 3 роки тому
Yet gasoline in my area shot up by $.70 to $1 a gallon. It's all just BS, and more price gouging consumers.
@petersouth3284
@petersouth3284 3 роки тому
Why is it bad? People will save more with cheaper oil price. The next question is, why do these crooks want to increase the price so high?
@ganeshpradhan9756
@ganeshpradhan9756 3 роки тому
There at US you have crude price plummeting and here in India we have crude prices skyrocketing😶😶
@LivvieLynn
@LivvieLynn 3 роки тому
I'm sure I have a spare room I can squeeze some barrels in. :) Send them my way. **will just offload it on craigs list for free**
@FireEverLiving
@FireEverLiving 3 роки тому
Each future contract is for 1000 barrels, so you'd need to do quite a bit of squeezing. 😉
@cielpolanco6710
@cielpolanco6710 3 роки тому
I don't understand how the oil prices are going down and the State of New York and New Jersey the price of gas is going up by the week 20 30 40 cents up ????
@rajivvikaas
@rajivvikaas 3 роки тому
thank you for explaining it. it all depends on futures contract & storage.. the fact that russia & mr Salman fought during a pandemic did not help!!
@Solisium-Channel
@Solisium-Channel 3 роки тому
Oil also creates a demand for the U.S dollar and without demand the value of the dollar goes down. There almost no demand but for some reason it ain’t coming down. The U.S is holding its value artificially i assume.
@cambone6153
@cambone6153 3 роки тому
For one... you’re showing a thumbnail of gasoline which is not the same at all
@helldeirch
@helldeirch 3 роки тому
This is so silly, did people really think that storage is a problem that can't be easily solved?
@buckygeo
@buckygeo 3 роки тому
A nice review, but why post it now? That blip is history for this cycle, unless one thinks a 30% drop in demand is around the corner. And why would that happen when many shale producers will go bankrupt, presumably reducing SUPPLY.
@80budokai
@80budokai 3 роки тому
CNN, great video! Enjoy your Tuesday!💯🙏👐
@michaelroby8878
@michaelroby8878 3 роки тому
I wonder what they saying now lol I'm a gas hauler that pull out of Tampa FL and most trucking companies around here got drivers working 6 days a week that I know of atm..
@VJETRA
@VJETRA 3 роки тому
when you made a video but forgot to upload
@Philmikehunt333
@Philmikehunt333 3 роки тому
Um we paying 2.50 a gallon in Oregon so wtf?
@alexfernandez6621
@alexfernandez6621 3 роки тому
Oh come on! I literally just bought $USO
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