Oil bust inevitable

nodle

Cheesemonger
Administrator
If anything this shows even today how reliant the worlds economy relies on on tiny country. Iran is doing it on purpose. I did hear of talk that Trump would release some reserves to composite it. I think this would be a great idea to show that were not going to let it effect us.
 

C Pav

Codename: GB6
Members
Guess we need to fire up some more drones and use some cruise missles to fix this reversal of events...
 

nodle

Cheesemonger
Administrator
Oil prices (just like the rest of the stocks) is going to take a huge hit. Know why? People are going to stop traveling and going places over the concern of the Coronavirus.
 

nodle

Cheesemonger
Administrator
On another note, the face mask gouging has begun. A guy should had bought tons of these up then re-sold them, could had been quite the racket.
 

ryanator

Mathematical
Members
Thought last week was bad? Oil price futures tonight crashed over 20% to an unbelievable decrease. Brent crude at $34. The main driver was Russian not agreeing to a renewal in the OPEC deal to keep production moderate. I wonder what strategy they are using to coincide with the coronavirus scare and already lower demand caused by it?
 

nodle

Cheesemonger
Administrator
Well crude finally dipped below $20 a barrel. We got a notice from our vendor that supplies us our oils and greases, they have incentives now from Chevron and Exxon trying to drum up business.
 
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