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Discussion Starter #1 (Edited)

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Dow loses 534 pt gain but climbs back up 35 points with 90 minutes left to trade.

On another note. Production needs to be cut down. There's no place to put it. With half the world sitting home.

And another note. Cheap gas????? We're still priced the same before all this happened. We haven't dropped a penny. Gas tanks are overflowing just as bad as oil tanks.

And when you going to learn to NEVER listen to the mouth?
 

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Dow loses 534 pt gain but climbs back up 35 points with 90 minutes left to trade.

On another note. Production needs to be cut down. There's no place to put it. With half the world sitting home.

And another note. Cheap gas????? We're still priced the same before all this happened. We haven't dropped a penny. Gas tanks are overflowing just as bad as oil tanks.

And when you going to learn to NEVER listen to the mouth?
Dropped like 25 cents here in central MA but that's it.
 

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Demand goes down... price goes up... basic economics the volume isn't there because none is driving.
 

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Discussion Starter #10
You can easilly buy oil online with like any brokerage ever.
I'm talking about physical oil even though it can be done, Oil ETF's seem quite risky?
ETF Overview
This is a list of all Long Crude Oil ETFs traded in the USA which are currently tagged by ETF Database. Please note that the list may not contain newly issued ETFs. If you’re looking for a more simplified way to browse and compare ETFs, you may want to visit our ETFdb Categories, which categorize every ETF in a single “best fit” category.
* Assets in thousands of U.S. Dollars.


Symbol
ETF Name
Asset Class
Total Assets ($MM)
YTD
Avg Volume
Previous Closing Price
1-Day Change
Overall Rating
USOUnited States Oil FundCommodity$2,510.34-65.81%52,639,812.0$4.384.04%
UCOProShares Ultra Bloomberg Crude OilCommodity$427.99-91.74%13,885,529.0$1.696.29%
DBOInvesco DB Oil FundCommodity$282.78-44.80%1,082,586.0$5.89-3.92%
OILiPath Series B S&P GSCI Crude Oil Total Return Index ETNCommodity$163.26-65.98%1,236,506.0$4.283.63%
UWTVelocityShares 3x Long Crude Oil ETNCommodity$137.52-98.83%66,290,452.0$0.176.25%
USLUnited States 12 Month Oil FundCommodity$51.31-48.02%82,323.0$11.95-2.61%
OILUProShares UltraPro 3x Crude Oil ETFCommodity$40.53-99.00%11,444,013.0$0.22-21.43%
USOUUnited States 3x Oil FundCommodity$16.3342.76%128,983.0$23.271.66%
OILKProShares K-1 Free Crude Oil Strategy ETFCommodity$15.41-66.03%86,886.0$7.511.76%
WTIUProShares Daily 3x Long Crude ETNCommodity$5.47-97.69%2,695,984.0$0.32-3.03%
OLODB Crude Oil Long ETNCommodity$5.2628.42%2,765.0$5.631.08%
OIILCredit Suisse X-Links WTI Crude Oil Index ETNCommodity$4.1122.16%1,717.0$43.000.00%
USOICredit Suisse X-Links Crude Oil Shares Covered Call ETNMulti-Asset$2.87-61.52%12,009.0$8.251.73%
OILXETRACS S&P GSCI Crude Oil Total Return Index ETNCommodity$1.20-66.23%6,692.0$12.380.57%
OLEMiPath Pure Beta Crude Oil ETNCommodity$1.10-52.67%11,905.0$9.00-3.74%
UWTIVelocityShares 3x Long Crude ETNCommodity$0.32-37.67%22,097,040.0$24.625.89%
 

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Not sure how you’d just buy oil without getting a direct contract from someone.

I mean I can get lab samples pretty easy, even in barrels, but those are much more expensive.

Crude oil can also be a little dangerous. It’s not something you want to store in a house, or any enclosed space for that matter.
 

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Discussion Starter #12
I had been looking into this. If you have the proper contacts and storage space and manpower you can most certainly buy the Barrels direct. No one does this. Then there are ETF's & ETN'S. Don't know the difference but you can clearly see with those ETFs's returns above Vegas seems a better bet? You can also invest in individual Energy companies, or Refining operations. But there is so much at play because most Oil is invested on a speculative basis or short term only
 

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I had been looking into this. If you have the proper contacts and storage space and manpower you can most certainly buy the Barrels direct. No one does this. Then there are ETF's & ETN'S. Don't know the difference but you can clearly see with those ETFs's returns above Vegas seems a better bet? You can also invest in individual Energy companies, or Refining operations. But there is so much at play because most Oil is invested on a speculative basis or short term only
Why would you waste money on storage when we have perfectly good natural reservoirs?
 

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One question to ask is if the refineries are at work or if they are non essential business? If an essential business are the workers showing up?
 

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Discussion Starter #15 (Edited)
Why would you waste money on storage when we have perfectly good natural reservoirs?
That same Gallon I bought yesterday at $2.25 even before the savings started is now $2.80 thanks to Trump who said how great we were paying 90 cents today, cheaper than the water there, which ironically is true. Goodbye Stimulus Money, it was a Hoax
 

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2.25 to 2.15 around salt lake. Sam's is 1.95.

We've just now started dropping. I can't imagine anything going up. There's no demand.
 

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Discussion Starter #19
In other news.

Doesn't look like the meeting went well.

This thread panicked for nothing.:)
Trump said during his daily disinformation meet that we have to protect U.S. Oil Workers and all the great U.S. Oil Companies, and will consider putting Tariffs on Oil. Said we haven't seen these prices since the 1950's. Gas was 79 Cents a Gallon in the middle 80s.
 

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$2.59/$2.69/$2.79/$2.69(D) in CA, when I filled up Thursday night, after work. Was $2.90-3.19 about a month to month-&-half ago.
 
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