USO NAV $629 from an original $10,000 investment ooooooooouch. And that was at the end of last quarter 3/31/20 lol.
allright great discussion folks.... Lots of things to noodle on here. Based on my research is sounds like oils are negatively priced today (more on that later....) .... sounds like this is a good time to discuss my idea.... Folks if we can receive these barrells for free (or negative price) and pour out the oil then sell these empty barrells to oil companies... I believe (based on my research) that there is not enough STORAGE for oil.... so this tells me that EMPTY BARRELLS could be extremely valuable. In fact if you can build larger barrells then you can sell them for a large profit. Has anyone looked into who sells these barrells of oil and where we can purchase them (in fact we can even save them the trouble and have them send us the empty barrells and we can sell them right back?). Let me know.... thanks, Krent
Interesting observation Anum..... where does this imply it will be by the end of the evening Pacific Time?.... I have been developing softwares that will project the price of oils (based on it’s price earlier that day or the day before)..... i will feed this data point in (and also the price from earlier today) and report back to you folks.... Thanks Krent
Thanks May.... though your wrong about this (and you should fact check you’re self before spewing false news ).... Saudi Arabians can produce oils for more than $3 IN FACT they have an economy which is in the billions (that’s right, billions with a B) so they would not be selling barrells for a measly $3 that would take thousands of Barrells to make a difference..... let me know your thoughts.... Krent
SA production cost as it stated $3 per barrel and $2 for transportation that I got from their sources. That mean SA may sell oil for $10 per barrel and be profitable. This is not the price they are selling, this is cost they need to produce. Please provide what you have.