Jump to content
DeeCee

Coronavirus | COVID-19 | Global Pandemic | PLEASE KEEP DISCUSSION TO THIS THREAD

Recommended Posts

Looks like May 18th is the earliest for Washington/California/Oregon.

 

Sticking with some looking at April 27th which is insane but expected with this administration

Share this post


Link to post
Share on other sites
11 minutes ago, grim22 said:

Good explainer for the oil issue

 

 

I read something similar, basically saying that storage is a problem. There's an oversupply all throughout the chain presently, and refineries, distributors, etc are all at or nearing capacity. 

 

Keep in mind that just 8 days ago OPEC+ announced a 9.7M barrel a day supply reduction for May and June. That's a massive cut, representing something around 20% of the supply from those nations.

 

I expect the June and July contract prices to continue falling, which the thread you quoted from Twitter also said could happen.

 

When you take oil prices, consumer sentiment and the unemployment situation all into account it paints a very grim picture.

  • Like 1

Share this post


Link to post
Share on other sites

Well it makes sense... I usually drive 300-400 miles (500-600 km) a week 

 

 

I been at 40 km total in driving since March 16 😗

  • Like 2
  • Haha 2

Share this post


Link to post
Share on other sites
Posted (edited)
7 minutes ago, doublejack said:

I read something similar, basically saying that storage is a problem. There's an oversupply all throughout the chain presently, and refineries, distributors, etc are all at or nearing capacity. 

 

Keep in mind that just 8 days ago OPEC+ announced a 9.7M barrel a day supply reduction for May and June. That's a massive cut, representing something around 20% of the supply from those nations.

 

I expect the June and July contract prices to continue falling, which the thread you quoted from Twitter also said could happen.

 

When you take oil prices, consumer sentiment and the unemployment situation all into account it paints a very grim picture.

I would note that it's "only" WTI that collapsed today.  I was taking about this with my father and he said that the Economist at least considers Brent to be the "important" oil market right now and after checking, it's still in the 20s:

 

 

Edited by Porthos
  • Like 2

Share this post


Link to post
Share on other sites
Posted (edited)

@AndyK

 

Quote

The daughter of a 99-year-old Army veteran who has raised more than £27m for the NHS has said it is "very painful" not to be with him.

:ohmygod:

 

 that did grow fast!

 

https://www.bbc.com/news/uk-england-beds-bucks-herts-52354991

 

Whahaaaaa he is also nearing #1 (oldest person ever to manage that) on the billboards with the NHS choir and Michael Ball

 

 

Edited by terrestrial
  • Astonished 1

Share this post


Link to post
Share on other sites
14 minutes ago, Lordmandeep said:

Well it makes sense... I usually drive 300-400 miles (500-600 km) a week 

 

 

I been at 40 km total in driving since March 16 😗

same here ... we've been in a very severe lockdown here, not going anywhere ... and transports are also down by about 50%. Add to that a very warm February so heating wasn't much of an issue and you have all rafineries with full tanks, nowhere to put that crude anymore.

  • Like 3

Share this post


Link to post
Share on other sites
1 hour ago, baumer said:

There's been talk in Canada that things are getting better.  Load of poop.  We just had our highest amount of new CD19 cases today.  1619 have been reported with one more report to come out today.  Ontario and Quebec are accounting for about 75% of those cases.

It depends what province you're in. Canada's attention is also divided with the Nova Scotia massacre.

  • Like 1
  • Sad 1

Share this post


Link to post
Share on other sites
16 minutes ago, Madhuvan said:

2020 is weird. 

 

Life is weird.

  • Like 1

Share this post


Link to post
Share on other sites
10 hours ago, ElsaRoc said:

 

 

 

 

Even a broken clock is right twice a day.

  • Haha 1

Share this post


Link to post
Share on other sites

All the protesters are standing 6ft apart!

 

 

  • Like 1
  • Haha 1
  • Astonished 1

Share this post


Link to post
Share on other sites

I'm listening to statisticians on a call telling me COVID is literally no more dangerous than the FLU because 30x as many have had COVID comparing the current death count.

 

IT'S A LIE. If you include 30-50x as many have had COVID, 10x reported as many have died. We are looking at least 500k (In USA) dying from this versus the flu at 70k. It makes me so angry!

  • Like 2

Share this post


Link to post
Share on other sites
36 minutes ago, Porthos said:

I would note that it's "only" WTI that collapsed today.  I was taking about this with my father and he said that the Economist at least considers Brent to be the "important" oil market right now and after checking, it's still in the 20s:

Brent is still at an alarmingly low price. To put it in perspective, the lowest price Brent reached during the 2008/09 great recession was about $45. It has not run into the storage problem that exists for WTI, not yet at least, so the price hasn't completely cratered. Still, Brent is trading in the price range that it was roughly 20 years ago, and that's after the OPEC+ cut. The trend line was going down before the cut, and continues to go down.  The bottom hasn't been reached.

  • Like 2

Share this post


Link to post
Share on other sites
4 minutes ago, doublejack said:

Brent is still at an alarmingly low price. To put it in perspective, the lowest price Brent reached during the 2008/09 great recession was about $45. It has not run into the storage problem that exists for WTI, not yet at least, so the price hasn't completely cratered. Still, Brent is trading in the price range that it was roughly 20 years ago, and that's after the OPEC+ cut. The trend line was going down before the cut, and continues to go down.  The bottom hasn't been reached.

Yup, its a matter of when, not if.... the production cut will help stem the tide but not stop it. 

Share this post


Link to post
Share on other sites

I want to SCREAM. This guy is saying Dr Fauci lives for this, he cant wait to focus on worst case scenario. I don't want a 2nd wave but sometimes I wish it would happen to rub it in his face.

 

He says we can't add more tests. ARGH 🤬

  • ...wtf 1

Share this post


Link to post
Share on other sites
3 minutes ago, cdsacken said:

I want to SCREAM. This guy is saying Dr Fauci lives for this, he cant wait to focus on worst case scenario. I don't want a 2nd wave but sometimes I wish it would happen to rub it in his face.

 

He says we can't add more tests. ARGH 🤬

That's insanity. What's the excuse for that?

  • Sad 1

Share this post


Link to post
Share on other sites

The US really needs to do something about people being able to openly carry these guns while still concealing their identity

 

 

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use and Guidelines. Feel free to read our Privacy Policy as well.