Below you will find pages that utilize the taxonomy term “Oil”
Just looking through some Stocks and ETFs that are crashing and burning.
Airlines and Oil have really taking it on the chin.
Speaking of chin, people are self improving themselves and their smiles. I like that.
Tech and Health will be the winner coming out of this.
The Oil markets are a really dumpster fire these days. With the Russian and Saudi oil wars going on the result has been a flood of oil in the markets. Prices collapsed for the May 2020 contract to -$37.63 a barrel. That’s nuts.
I’m starting to see prices being pushed down at gas stations too. Since Covid19 put a damper of travel, I think well see sub $10 a barrel oil coming.
I spent a lot of time in North Dakota and Montana for my old job, and I never would've thought that there was so much oil/gas activity up there. Unless you've been living under a rock, North Dakota is experiencing an oil boom because of a geological feature called the Bakken Formation. With the advances in horizontal drilling and oil extraction (e.g. hydraulic facturing), oil companies have transformed North Dakota into the second largest oil producer in the country.
The only bright spot I can see for our economy is lower oil.Â It's sure to help with heating costs this year as people struggle to heat their McMansions or fill the tank on their Hummers.
``Sentiment is extremely pessimistic, people believe we'll see a global recession despite the measures being taken by governments,'' said Jochen Hitzfeld, an analyst at UniCredit Markets & Investment Banking. ``Many commodities like platinum, agricultural commodities or gasoline have fallen below their production costs.
It figures that the Gold and Oil markets start to collapse just as I go on hiatus. My guess is that hedge funds are selling their winners to cover their losers (financials, banks, etc). This has had a nasty consequence in the currency markets with the AUDUSD collapsing from its near parity with the USD to around 0.80. Next stop for Gold could be $600 and Oil maybe $80 (wishful thinking?