Russia v Saudi

[iego]

I disagree about 70-80% of the time with Cramer, but this one I agree.
Why? The statement is so ovious...


https://www.cnbc.com/amp/2020/03/27/...er-barrel.html

If demand is falling, and supply is rising, the price will go down.

Demand is down, due to Coronavirus restrictions
Supply is up due to Russia, Saudi (OPEC) price war

Basic economics, and terrible for the economy worldwide.

-John

[Drilldov2.0]

If demand is falling, and supply is rising, the price will go down.

Demand is down, due to Coronavirus restrictions
Supply is up due to Russia, Saudi (OPEC) price war

Basic economics, and terrible for the economy worldwide.

-John

Yes. I got laid off after 21 years in the patch. No one is hiring. Thinking of a job with RTD/Lightrail. I was in Culinary School at Johnson and Wales, but it is a crappy time to be a Chef as well. Not much of an office type guy. But right now, I'll push a broom with a smile knowing I have an income.

[CS1983]

Think I'll buy a few gas cans and get some ethanol free for the bike and lawn mower while it's down.

[Gman]

Nastassja sKinski. I remember the '80s.

[MrPrena]

I am extremely interested in oil. I do have a very very small short (ETF/ETN) position in oil right now ( one that I forgot to sell on accident).

It will bounce back for sure. [I dont have any metrics but] My guess of demand getting back to normal would be about early June, and supply would be back to normal about august assuming same level of outputs.

It will be interesting labor day week for oil investors.

[Bailey Guns]

$.89 gas, $1.69 diesel. Damn. How low will it go? Can gas get much cheaper than that?

[FoxtArt]

$.89 gas, $1.69 diesel. Damn. How low will it go? Can gas get much cheaper than that?

If they stopped taxing it that would probably be something like .25c / gallon fuel

[Bailey Guns]

Close. OK fuel state and fed taxes gas/diesel = .38/.44 gallon