@@TheUnknownHarbingers because gasoline is a derivative of petroleum. Processing petroleum into gasoline has fix costs and those fix costs will never go.
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.
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.
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
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.
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..
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
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
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.
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.
@@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
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.
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
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.
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
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.
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.
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!
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
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) 🙂
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.
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?
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)
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!
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.
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
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
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?
Wsb is the one to see this vid, buy billions of barrels, causing the price to skyrocket to 100 dollars, and immediately making it negative 100 dollars the next day
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 ????
its a mistake to be so heavily reliant on a single energy source especially when you rely on imports and drive cars that absolutely chew through the fuel , remember 73 .
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
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?
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.
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
@@desoztoppieter9895 I mean, yes, but truth be told he has done good with their money. Knowing the average US citizens, they'd take out student loans and buy fast food, inevitably destroying their health. The investment was good.
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.
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.
@@gerardosalas9477 No. Worst. They have Modi in power. He's enjoying this lockdown and dwelling in the power grab over there. It's really bad there. My in-laws are Indian.
Oil is easily on its way to become a outdated resource. Big oil companies itself will gladly invest in other big profitable resources. That’s why they are what they are
I thought America ran on Dunkin
Nice lol
🍩☕️
please most Americans who frequent Dunkin can't walk, let alone run.
Oh but it does
america dont run, they're too fat
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
You are 2 months late tho
yea I'm seeing $2+ gas in some locations in Atlanta
I was just going to say. Hasn't the price war gone already with OPEC and Russia agreeing to cut production?
@@TheUnknownHarbingers because gasoline is a derivative of petroleum. Processing petroleum into gasoline has fix costs and those fix costs will never go.
@@TheUnknownHarbingers same in Indiana
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.
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.
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
@@stufflol3317 Boomer's don't accept the facts. They are just blind idiots.
all capitalists ignore it, pollution is considered an externality.
@Jack Richardson Dude I was not talking about you. I was talking about the person who wrote the comment in the first place.
We are living History boys
@Robin Hugli i can tell the narrator is a nerd speaker from china.
@@Dptl i don't get it!
Hum... the price of oil is at about $37 per barrel and the economy is waking up (despite the surge in cases, but hey...just human lives apparently) so the price is unlikely to go down.
In a broader view, yes, history indeed. There was the bronze era, the industrial era, the information era and now we are witnessing the idiocracy era with trump as the personification of said era. But this video is about the price of oil.
I hope historians dont call this era something like "The turmoil years" or "The chaotic era" or something.
They should respect the genZ and call it the "Dogshit 20s" or something..
@@lepetitroquet9410idiocracy is great prediction of the future
Gas prices go down negative yet in California they manage to still go up
That's Hollywood Elites and Democrats for you
I think that might be due to the fact that Cali is not so dependent on gas as a lot of the energy requirements are met by alternative sources. So the demand was steady even when in other parts of the country which were more dependent on oil, suddenly faced a lack in demand
artenman 😂
Taxes LOL
Unlike other commodities like milk, you cannot just dump oil down the drain. You have to store it, which costs money. During the time of the crash, due to a shortage of storage, it was cheaper to pay someone to take oil off your hands instead of paying huge storage tankers to float around in the ocean
stop wasting food that is not good. don't dump milk down the drain. Store it in your fridge!!!!
Did he say the US economy runs on oil? I thought it ran on entrepreneurial spirit and free enterprise with a sprinkling of fairy dust.
No that's not right, it runs on Freedom. ;)
Unicorns don’t run on oil.
@@JennyA freedom to take freedom.
@@JennyA Freedom and guns, yeeeeeeeeeeehaw.
More likely it runs on Usury. oy vey.
It's going back up now. Rapidly
woulda been a good time to invest.
Ya 3.25$ like wtf it was 2.97 literally 5 days ago
@@thesilentone4024 5.60 in Manhattan 😢
@@voltskrafty8936 ya I moved from vages its 4.98 down there now were im at its 3.50 now.
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.
Well, then nobody would produce/mine oil, leading to even higher prices
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.
Fire Temper your brain functions like how I expect someone with a fortnite picture to
Not the eco terrorists.
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.
I just realised that the day the oil price dropped 300% is the 10 year anniversary of the deep water horizon disaster
This aged well..
why is everyone wearing these cheap cloth masks that dont actually protect you from droplets. get better masks people i use buymasks.equipment
stfu
That is a bot
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.
Gas here in NorCal is $2.57 @ Costco
Arjel Brian Agustin yes sir! Would love a deep drop in price
Still around $3.00 in Los Angeles area. I guess that's still better than $3.50 or $3.70.
Jonathan Wang yes sir here in Ventura it's still $3.
San Gabriel Valley (SoCal) gas price is roughly 2.69-2.89, depending which gas station you go to
I’m in North Carolina, gas is 1.75
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!
Keep dreaming 🤣
Man gas prices were 1.25 and now their 1.95???😂😂😂
Say hello to my little electric friend
That takes about 30 barrel of oil to produce
Nola0187 H Nola drink some oil
@@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
@@NolaH-sb4vf
Hydroelectric Dam: Joke on you!
Not so exciting when it happen two months ago.
Ironic that this *cough EXPERT cough* waited until after it actually happened before explaining it could happen.
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.
Totoo yan
Welp 2nd wave lockdown will come here means people will stay at home more often.
Tax increased though, grabe govt natin
Here in USA price of gas going up too I think there late on there video announcement
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.
Indian Oil Prices are still high even after filling the whole india's storage
YEAH!!! I'M SO ANGRY ABOUT THIS!!!!!!!!
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
Its done to make solar cheap and increase debt
@@syedmohsin18 Goverment is out of cash- it never can, it never will
Wah modiji wah
Everyone just buy a bike to ride to work, grocery stores or home. Screw your vehicles and gasoline. Work and travel locally.
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?
The price is in the future, not now.:-)
gouging while they can
bearatts same here in california
Government: Stay at home
Dads: buy barrels of oil at the nearest station
Brent crude oil is around 39$ as on today, not sure that this report is updated.
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.
Nice to know I can get my tank filled in order to buy some snacks and coffee.
We don't need to worry about low oil prices bow
We must switch immediately to EVs. With that low prices and so many bankrupt companies, oil won‘t be around anymore for long.
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
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.
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.
When CNBC journalist can't afford a webcam and headset
Who did the music? I need this mix ASAP!!
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!
Wrong definition of demand and supply
WHy the hell am I still paying for gas then???!!!!!!!!!!
Your money is going to refinary oil company like shell, BP ect and not to OPEC.
you are paying taxes
BG chal there’s a difference between gasoline and oil
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
We will get through this
When I read the title I thought gas stations would pay us for filling up our gas tanks😂
Because of basic economics. Supply and demand.
Maybe "it wasn't possible", it more likely we use wrong method to run economy.
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) 🙂
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.
6:50 is the left side of his neck irregular or is it just me??
I see it too. Maybe someone should ask if hes okay
very well explained
Oil price is the famous story in economics, always has big problems for developing countries.
Why not buy the stock when the price is low and then when oil price go up sell it
CNN, great video! Enjoy your Tuesday!💯🙏👐
I wish under $1.00/gallon
In India price of petrol has increased for 14 straight days
True value.
The economy sucks
Meanwhile in the Philippines oil became more expensive
There are many greedy companies in the Philippines, not just oil companies and retailers.
@@69erone-half50 Not really it is mostly because of our corrupt and greedy politicians
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?
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)
Sustainable energy and Fusion energy is greatly needed globally
By 2050 no one will use oil will would only use wind energy and solar energy and electricity for all types of transportation.
How about the spaceships in the future
By then we'll also be traveling to Mars and other planets
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!
Because the financial firms & exchanges are corrupt. Negative prices were NEVER in the prospectus. What SEC?
These are futures contracts, not securities. The SEC has nothing to do with it.
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.
Thank you for your video
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
That little sad music in the background makes it comical actually more than sad.
Narrator showing his accent 😆
That "Ool" southern accent
Australian Oil Prices are back to normal :(
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
Still over $2 a gallon here in Michigan there's not free fill up with Slushie!
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?
Bitcoin and forex trading right now will be at every wise individuals list. In few months you'll be ecstatic with the decision you made today
EXACTLY!!
You're right forex has been helpful to me even if I'm not perfect
Forex ??
I've heard about forex and bitcoin watched multiple videos but always get confused
I was an investor of stocks but sold all off and invested on forex, I've been doing well
So they should be paying me to buy gas
You can thank WSB Reddit
Wsb is the one to see this vid, buy billions of barrels, causing the price to skyrocket to 100 dollars, and immediately making it negative 100 dollars the next day
lots of important info
Basically it was because of contracts, and the people reneged on the contracts.
Could you please do brief about Holden and GM in Australia
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 ????
Westchester NY lowest price $2.09 regular. A little bit of a drop but still high IMO
its a mistake to be so heavily reliant on a single energy source especially when you rely on imports and drive cars that absolutely chew through the fuel , remember 73 .
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
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?
She'll and Chevron still $3.49/gallon premium here in bay area, ca
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.
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
The enemy of oil isn't COVID19, it's Elon Musk. Guy probably saw this stuff happening 10 years ago.
scam man is dependant on ripping of taxpayers
Elon is smart he knows what type of energy refineries wether that be coal or oil he chose solar and wind epvs
@@desoztoppieter9895 I mean, yes, but truth be told he has done good with their money. Knowing the average US citizens, they'd take out student loans and buy fast food, inevitably destroying their health. The investment was good.
@@silverdime6278 A fellow South African too. Didn't even know him personally but I feel hard done by after he launched that rocket a week ago.
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.
In france i pay 1.19 a liter of diesel
Oil is very expensive like nonetheless!! I hope electric cars and battery technology will improve soon.
Electric is going up too global inflation of everything now. Fully Electric future is nowhere as near and as certain as the media portrays.
It's beyond Postive market now 😄
They forgot to say about the price war between Saudi Arabia and Russia
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**
Each future contract is for 1000 barrels, so you'd need to do quite a bit of squeezing. 😉
why the ghostly tune in the background??
It's up over 50 percent since its low in dallas
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.
More renewables
Where do alll the smarties think " electric" energy comes from...ALMOST EXCLUSIVELY FOSSIL FUELS.
bolocks, 1/4 -1/3 is non fosil fuel and increasing
and in the uk its still 1.30 pounds and $1.62 a litre thats ridiculous
Getting paid to huff petrol.
Druggies: *Yee Yeeeh*
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.
In India the Oil Prices are still rising. The government doesn't care if it is a pandemic or what. They will charge huge taxes.
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?
Not in india ( Govt increased the price )
Samar do you have leftists in power?
@@gerardosalas9477 India is very corrupted , nothing to do with left or right.
@@gerardosalas9477 No. Worst. They have Modi in power. He's enjoying this lockdown and dwelling in the power grab over there. It's really bad there. My in-laws are Indian.
@@wesleyvict The USA is very corrupted, everything to do with the left and the right.
@@Boxhead42
Ikr!
Typical USA, always judge thing based on left or right.
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!!
I'd take free gas anyday.
Yet gasoline in my area shot up by $.70 to $1 a gallon. It's all just BS, and more price gouging consumers.
Oil is easily on its way to become a outdated resource. Big oil companies itself will gladly invest in other big profitable resources. That’s why they are what they are