Moneymoney

Wed Dec 19, 2018, 11:43 AM

Oil crashes through the floor

Brent crude fell to roughly $56-per-barrel, while WTI, the U.S. benchmark, dropped sharply into the $46-per-barrel range.

The plunge in U.S. oil prices has wells in some parts of the Permian Basin below break-even levels, threatening to put the brakes on the record flow from the prolific field."

What they're saying: “The market is experiencing price carnage, maximum pain and considerable downside pressure,” Robin Bieber of the brokerage PVM oil tells Reuters.

"Enveloping supply concerns is the increasing likelihood of a protracted economic downturn in China that continues to stoke fears of demand slowdown," Stephen Innes of the trading platform Oanda said in a note quoted by MarketWatch.

https://www.axios.com/oil-prices-opec-deal-united-states-2f7efd49-1788-44ea-bc20-318329554fed.html




19 replies, 353 views

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Arrow 19 replies Author Time Post
Reply Oil crashes through the floor (Original post)
uncledad Dec 2018 OP
Gamle-ged Dec 2018 #1
orson Dec 2018 #2
uncledad Dec 2018 #3
outside Dec 2018 #4
uncledad Dec 2018 #6
bernt-toast Dec 2018 #5
uncledad Dec 2018 #7
bernt-toast Dec 2018 #8
uncledad Dec 2018 #9
bernt-toast Dec 2018 #10
uncledad Dec 2018 #11
bernt-toast Dec 2018 #12
uncledad Dec 2018 #15
Ruby Dec 2018 #13
bernt-toast Dec 2018 #14
Ruby Dec 2018 #16
bernt-toast Dec 2018 #17
Ruby Dec 2018 #18
bernt-toast Dec 2018 #19

Response to uncledad (Original post)

Wed Dec 19, 2018, 11:58 AM

1. DAMN, I filled up my gas tank at $2.09 yesterday. Shoulda waited until I was running on fumes...

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Response to Gamle-ged (Reply #1)

Wed Dec 19, 2018, 12:04 PM

2. Where do you live?

We're still paying $3.50 out here in the People's Republic of Washington.

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Response to Gamle-ged (Reply #1)

Wed Dec 19, 2018, 12:10 PM

3. Enjoy it while you can.

I'm with you on lower prices for gas.

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Response to uncledad (Original post)

Wed Dec 19, 2018, 12:35 PM

4. I would thing the falling gas prices

would help UPS and FedX stocks but UPS is at a 52 week low and FedX is down over 10% today.

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Response to outside (Reply #4)

Wed Dec 19, 2018, 02:00 PM

6. I'd say the pricing hasn't caught up to them yet.

Last edited Wed Dec 26, 2018, 11:25 PM - Edit history (1)

I haven't heard much on sales figures, other than it looks positive for Christmas season sales.

So one would think UPS and FedX would be making money.

They could just be caught in the bearish blender to the down side.

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Response to uncledad (Original post)

Wed Dec 19, 2018, 01:56 PM

5. when is it going to drop heating oil prices?

late December/early January is always when I throw in a hundred or so. I still have almost half a tank so can hold out for a few weeks if that will catch me a break!

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Response to bernt-toast (Reply #5)

Wed Dec 19, 2018, 02:02 PM

7. May 15th.

You can count on it.

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Response to uncledad (Reply #7)

Wed Dec 19, 2018, 02:04 PM

8. that's ok...

June/July is when I usually tank up for next winter.

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Response to bernt-toast (Reply #8)

Wed Dec 19, 2018, 02:10 PM

9. If it works for you, it's all good.

We have NG on a budget plan, not much of a swing month to month.

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Response to uncledad (Reply #9)

Wed Dec 19, 2018, 02:15 PM

10. my propane is month to month...

higher cost, but it's my emergency heat. Don't fool with that in Maine... they race around topping everybody off ahead of nor'easters and blizzards...

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Response to bernt-toast (Reply #10)

Wed Dec 19, 2018, 02:23 PM

11. Maine is to cold for my bones.

Here in Virginia it's four seasons, mild winter except for two months.

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Response to uncledad (Reply #11)

Wed Dec 19, 2018, 02:28 PM

12. too cold for mine too, but I hate ticks and poisonous things.

now that ticks have made it here and poisonous things are probably not far behind, I'm thinking in a decade or so, after all my critters have died off, I'll move to a hot beachy area. Maybe one of the lesser known islands....

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Response to bernt-toast (Reply #12)

Wed Dec 19, 2018, 04:50 PM

15. We do see ticks, not many poisonous things.

One copperhead in the past three years, one in the past five before that. Every time they build a new development
the critters get moving. Deer run thru the back along the creek. Beavers came back and built a dam. An occasional red fox, wild turkeys used to be common.

We spray the foundation every few years. Keeps most of the crawly things out. Cats take care of everything else.

Out my window, there's a big hawk sitting on my neighbor's roof. The bald eagles will come winter on the lake, if they're in the mood to.

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Response to bernt-toast (Reply #5)

Wed Dec 19, 2018, 02:33 PM

13. I think were being gouged.

No reason for us to still be paying $2.70 a gallon. It’s barely less than last year. WHY?!

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Response to Ruby (Reply #13)

Wed Dec 19, 2018, 02:57 PM

14. still $2.85 in my neck of the woods!

I'm thinking the local suppliers bought current stocks before the price plunged. In that case, everyone is waiting for the price to drop. First to run low will be forced to buy what they've got. Then maybe prices will fall...

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Response to bernt-toast (Reply #14)

Wed Dec 19, 2018, 05:37 PM

16. I have a tank coming tomorrow.

we held out until 1/8th of a tank waiting. It’s so frustrating.

Every time I read an article about how much oil were exporting or how low gas prices are my head just about explodes.

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Response to Ruby (Reply #16)

Fri Dec 21, 2018, 12:40 PM

17. Sorry!

I try not to think about it more than necessary. Propane is what makes my head explode. It never ever goes down.

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Response to bernt-toast (Reply #17)

Fri Dec 21, 2018, 01:36 PM

18. It was $2.899 a gallon.

Yeah. I feel you on the propane. We have propane for hot water and cooking.

How’s the pup?

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Response to Ruby (Reply #18)

Wed Dec 26, 2018, 02:52 PM

19. you're right. they're gouging us! oil at record low and local just went up a nickel!

so much for waiting for it to drop!!!

Gracie is awesome I wanted to get pix after the last snow but didn't get around to it. Soon as it snows again I'm going to get pix. She's stunning

How is yours?

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Moneymoney