Quote from: Naida_BR on Today at 07:48:03 PM

Quote from: andisuk on Today at 07:31:11 PM

Quote from: Findingnemo on Today at 09:30:47 AM

Quote from: azarharus on April 27, 2020, 12:24:11 PM

Quote from: Findingnemo on April 26, 2020, 03:30:09 PM

Oil price hit down due to the extended lockdown, we still don't know when the pandemic will be resolved so countries are hesitating to stock the crude oil because more longer they store then the more expensive they will face and also some countries are in need of funds for a medical emergency which left the oil untouched so prices went down too much.

I honestly hope this could lead countries to use more of renewable energy instead if such unreliable resource like oil.
In couple decades when oil will be gone - those countries who were smart enough will have enough energy (like Australia for instance)

Electric cars were already on the road by the year 2030 it is rare to find a car powered by fuel but now we relied on oils so the price will hit up when the lockdown back into normal.Countries who adopt to solar and other renewable energies sooner will get more advantage of making the expenses more cheaper and can provide the source to their people more cheaper as well.

with the current condition, new, cheaper fuel will certainly be sought after if the oil has gone up again,
and in 2030 it is likely that many non-oil-powered cars must also have a lot like electric power or the sun and maybe there are more

This situation with the current low price, is going to cause a long term economic problem in the fuel market.
Many people now are buying petrol in order to get advantage of the low price and have stock for the winter. This means that winter sales ar going to be lower than expected.

IF you have stock, you are actually going to be paid to stock the fuel!

anyway. USO is still on play today.

USO Oil Fund Crashes Again as Crude Prices Tumble

Shares of the United States Oil Fund (NYSEMKT:USO), the largest exchange-traded fund (ETF) directly exposed to U.S. oil markets, fell 16% in morning trading on Monday. The slide came after the fund's manager, USCF, announced in an SEC filing that it planned to sell off all of the fund's current (June 2020) oil futures contracts in favor of longer-term futures contracts.

The announcement also sent benchmark WTI Crude prices lower, as traders followed USCF's lead and dumped their June contracts, which govern currently quoted WTI prices. By noon, WTI Crude prices had fallen 26%, to about $12/barrel. Other global oil prices also tumbled, with international benchmark Brent Crude down 7.8% for the morning.

It's like an enormous, dramatic circular reference.