Now this is Yuuuge!!!!
- Thread starter Okiya
- Start date
Pirate of carribean
Elder Lister
At least now people can believe there is a higher force that drives moments in the world
zapp_brannigan
I am not a Futurama fan .
Lockdown ikiisha with the fuel at the current lows , the matatu guys will claim the spare parts are very expensive so fare haitashuka .
A matatu is not supposed to make a loss .
QuadroK4000
Elder Lister
Job iko aje?...
Abba
Elder Lister
hapa itashuka lini? we are paying like a barrel is going for $100.
The price of oil for May delivery is so cheap that producers will pay customers to take it
The price went negative because the U.S. has run out of room to store it
Mark HuffmanReporter
Photo (c) MassimoVernicesole - Getty ImagesOil traders were shocked Monday morning when they logged on to see that the May futures price of West Texas crude oil had dropped below $15 a barrel. Before the end of the day, they would be absolutely stunned.
“The price of oil just went negative, and GasBuddy's servers went down just moments after,” GasBuddy’s Patrick DeHaan reported in an early afternoon tweet.
The price of May oil had completely fallen past zero and was in negative territory. In the last hour of trading, oil producers were paying buyers $38 a barrel to take it off their hands!
Had the world gone mad? Sort of.
The shutdowns caused by the coronavirus (COVID-19) have reduced the amount that consumers are driving and buying gas. Because they don’t need as much gas, oil refineries that turn crude oil into gasoline don’t need nearly as much oil.
But because it costs so much to shut down an oil field, oil producers would rather pay someone to take the oil off their hands because they have filled up practically every storage facility in the U.S.
Little effect on gas prices
Many consumers may be wondering if that means their local gas station will pay them to fill up. DeHaan says absolutely not. They’re two completely different products, though gas prices will likely keep falling for a while.
The current AAA Fuel Gauge Survey puts the national average price of regular gas at $1.81 a gallon, with Wisconsin still coming in as the cheapest state for gas at an average price of $1.22.
While oil traders are being paid to take oil in May, that deal will quickly go away. Oil futures contracts for June delivery are going for between $20 and $30 a barrel and even more for July, as the market is betting the economy will slowly begin to return to normal by then.
The price of oil for May delivery is so cheap that producers will pay customers to take it
The price went negative because the U.S. has run out of room to store it
Mark HuffmanReporter
“The price of oil just went negative, and GasBuddy's servers went down just moments after,” GasBuddy’s Patrick DeHaan reported in an early afternoon tweet.
The price of May oil had completely fallen past zero and was in negative territory. In the last hour of trading, oil producers were paying buyers $38 a barrel to take it off their hands!
Had the world gone mad? Sort of.
The shutdowns caused by the coronavirus (COVID-19) have reduced the amount that consumers are driving and buying gas. Because they don’t need as much gas, oil refineries that turn crude oil into gasoline don’t need nearly as much oil.
But because it costs so much to shut down an oil field, oil producers would rather pay someone to take the oil off their hands because they have filled up practically every storage facility in the U.S.
Little effect on gas prices
Many consumers may be wondering if that means their local gas station will pay them to fill up. DeHaan says absolutely not. They’re two completely different products, though gas prices will likely keep falling for a while.
The current AAA Fuel Gauge Survey puts the national average price of regular gas at $1.81 a gallon, with Wisconsin still coming in as the cheapest state for gas at an average price of $1.22.
While oil traders are being paid to take oil in May, that deal will quickly go away. Oil futures contracts for June delivery are going for between $20 and $30 a barrel and even more for July, as the market is betting the economy will slowly begin to return to normal by then.
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Field Marshal
Elder Lister
Mimi sielewi why we are still paying over Sh90 for a litre of petrol. I've read somewhere that some oil traders are willing to give it up FREE coz it's stuck in the high seas and storage capacities are exhausted.......................
QuadroK4000
Elder Lister
This right here, is where your guidance and knowledge is needed Awa
QuadroK4000
Elder Lister
Mna uaa mpaka tenki za mafuta bro?
Meria
Elder Lister
Almost all of muarabus Trucks are grounded.
Every truck used to consume slightly over 100 litres a day.
Tuanze hapo
Nattydread
Elder Lister
May this last long enough to wean the world off fossil fuels and also teach us that it doesn't take much to clean the earth's lungs.
A global economy built in trading fossil fuels and building vehicles and factories to burn oil is doomed.
Problem: would Drumpf understand?
A global economy built in trading fossil fuels and building vehicles and factories to burn oil is doomed.
Problem: would Drumpf understand?
Abba
Elder Lister
@Swansea mko na bahati man yaani unalipwa ndio ujaze petrol kwa gari??hapa itashuka lini? we are paying like a barrel is going for $100.
The price of oil for May delivery is so cheap that producers will pay customers to take it
The price went negative because the U.S. has run out of room to store it
Mark HuffmanReporter
Photo (c) MassimoVernicesole - Getty ImagesOil traders were shocked Monday morning when they logged on to see that the May futures price of West Texas crude oil had dropped below $15 a barrel. Before the end of the day, they would be absolutely stunned.
“The price of oil just went negative, and GasBuddy's servers went down just moments after,” GasBuddy’s Patrick DeHaan reported in an early afternoon tweet.
The price of May oil had completely fallen past zero and was in negative territory. In the last hour of trading, oil producers were paying buyers $38 a barrel to take it off their hands!
Had the world gone mad? Sort of.
The shutdowns caused by the coronavirus (COVID-19) have reduced the amount that consumers are driving and buying gas. Because they don’t need as much gas, oil refineries that turn crude oil into gasoline don’t need nearly as much oil.
But because it costs so much to shut down an oil field, oil producers would rather pay someone to take the oil off their hands because they have filled up practically every storage facility in the U.S.
Little effect on gas prices
Many consumers may be wondering if that means their local gas station will pay them to fill up. DeHaan says absolutely not. They’re two completely different products, though gas prices will likely keep falling for a while.
The current AAA Fuel Gauge Survey puts the national average price of regular gas at $1.81 a gallon, with Wisconsin still coming in as the cheapest state for gas at an average price of $1.22.
While oil traders are being paid to take oil in May, that deal will quickly go away. Oil futures contracts for June delivery are going for between $20 and $30 a barrel and even more for July, as the market is betting the economy will slowly begin to return to normal by then.
Anglututu
Elder Lister
The limited economics I know I'd, for the price of things to go down, the effect has to be across the hoard in all sectors.
I used to think that if cost of fuel and power go down, we could see other things going down, but shock on reality.
Once the prices have risen, they never come down.
The only economies of this modern world, paper money printing iinstead of gold, one can never understand it simply. Lazima sophisticated terms and conditions ziwe applied to make sense.
A little bit longer and many jobs will become redundant, people will find out that they can live without some services and excesses like huge weddings.....