Stocks slide as oil crashes below zero

Discussion in 'Wall St. News' started by gwb-trading, Apr 20, 2020.

  1. kmiklas

    kmiklas

    How can the price of a barrel of oil be negative?

    Will they pay me to take their oil?
     
    #11     Apr 21, 2020
    masterm1ne and lovethetrade like this.
  2. Yeah that's crazy. Never seen that before. Basically they are giving you free oil and paying you cash on top of that? Almost seems unreal.

    I suppose it could happen that way after careful consideration. Maybe it's a fire sale situation. Somebody trying to offload stuff because holding it for the duration of time will cost them even more.

    Sort of like those timeshare vacation properties that people sell for free and throw in freebies to try to get rid of, otherwise they'd lose thousands of dollars in maintenance/management fees per year. Something they've been paying for years and no longer want any part of.
     
    #12     Apr 22, 2020