Reply With QuoteYes, so it would seem.
Prices for US standard West Texas Intermediate oil have dropped below zero. Oil companies are paying their buyers to accept oil, hoping that it will cost them less than closing their oil fields!
https://tradingeconomics.com/commodity/crude-oil
As a result, gas prices in the US - with Wisconsin being the cheapest of all states- drop and drop. Currently one liter cost 19 euro cents/ 0.17 GBP!
M
Yes, so it would seem.
Hoping to buy in some domestic fuel for our central heating, well in advance of needing it, for a good prive then, will put ina call tomorrow, maybe they will pay me to takE several hundred liters.
How can I, as a retail investor, invest in oil as a commodity? Might be worth a punt.
Cheers
Originally Posted by David_D
You could read this thread from post 1030. Those in the know seem to suggest not trying to invest in buying oil.
https://forum.tz-uk.com/showthread.p...-invest/page52
I believe you can buy an future options. I.e take a punt on what the price of oil will be in 12 months.
Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
Friedrich Nietzsche
It’s ironic, petrol prices in the UK are lower than they’ve been for a couple of years, but most of our cars are going nowhere at the moment!
My MGB is sat in the garage, the weather’s been ideal for getting out and doing a few miles, but driving around in a classic toy is hardly in keeping with the spirit of lockdown. Managed to do a few miles last week by taking the scenic route to the supermarket for essential supplies of the liquid kind, but that’s all.
Following from that - I've actually SORN'd my car at the beginning of this month. I figure it won't needed for quite a while. We have Mrs. M's MX-5 for doing the food shopping. Shame we can't take advantage of the cheap oil - but then tax makes up 85% of the price so the .gov won't be paying us to buy petrol. No THAT's an idea to end the lock-down!
I've had to put a trickle charger on my car's battery as it's moved twice in almost a month for major grocery shopping. The smaller interim shopping trips and delivering supplies to my 84 year old father I do on my electric motorbike/scooter. Buying heating oil right now is uber cheap at 21p/litre.
Thanks. I was just interested as nephew was talking about it and I wasn't sure how close you can get to "buying" the current price as a punter.
When will it go £1 a litre at the pump?
Never.
Even if refined petrol was free, it’s too much of a cash cow for the government -any government -.
'Against stupidity, the gods themselves struggle in vain' - Schiller.
At Costco £0.99 a couple of weeks ago.
Actually I ‘ll revise this as they recon it’s for some time soon.
Scary
'Against stupidity, the gods themselves struggle in vain' - Schiller.
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