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Seller Pays Buyer: In Historic First, U.S. Crude Oil Sells For Negative Price

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Seller Pays Buyer: In Historic First, U.S. Crude Oil Sells For Negative Price

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The original article appeared in Russian, written by Mikhail Delyagin, named “WTI in London Drops to -$39.44”

HINT: It appeared that it didn’t exactly drop to -$39.44, but a bit less.

April 20th was the last day of trading in May futures, if I’m not mistaken.

That is, if the speculators does manage to sell his crude oil, he will have to receive this oil physically, because he has no physical position to offset them (and what would he do with it?).

That’s all: speculators traded on a “business as usual” basis, and squeezing demand by a third sharply reduced the circle of buyers who were ready to receive this crude oil in May – they preferred to wait until June (although the storage capacities, contrary to idle gossip, were still not completely filled), since it is not clear what to do with it in May.

And in order not to fall into a trap of having oil, with which it is unclear what to do, the speculator is forced to get rid of futures – at any cost and under any conditions.

Therefore, the American benchmark crude oil – WTI on the London Stock Exchange fell so sharp, that for the first time in history its price was -$37.63 [Original number is -$39.44 but all reports and stats show that it “only fell” to -37.63] per barrel, for delivery in May, and with delivery in June – it fell by 19%, to nearly $21. And the European benchmark Brent crude fell by less than 18%.

On April 21st, the price opened at -$14, and recovered to around -$8.

But from a fundamental point of view, the situation when the oil supplier pays the buyer almost $40 per barrel (which is almost twice the current price for June futures) certainly opens a new era – in an era when money can no longer be the “universal equivalent.”

A negative price, even for a financial instrument, is a much more serious phenomenon than a negative bank interest (albeit from the same series).

In the case of negative bank interest, activity in itself, the production of something becomes more important than its assessment; in the case of a negative price for the obligation of delivery (futures), this is not just a marginal, it is a “no brakes” expression of overproduction, it is an indicator that the manufacturer does not produce for the sake of money.

Seller Pays Buyer: In Historic First, U.S. Crude Oil Sells For Negative Price

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Zionism = EVIL

Dumbass failed state wasted trillions of lost wars and now hapless poor blacks and Hispanics dying in the street while the Jew cunts and their greedy WASP pimps profit from misery.

The squandering of trillions of dollars from 1945 through the 1980s on the Cold War, Vietnam and Zionist fanned wars in the Muslim world and the nuclear arms race. The presidency of Richard Nixon, Watergate, and craven government corruption. The disinvestment from the American social safety net and the massive deregulation of corporations that began during President Ronald Reagan’s rule in the 1980s – all while proclaiming “it’s morning in America again” – and continued unabated under Presidents Bill Clinton, George W Bush and Barack Obama. The First Gulf War in 1990-91 and the new US commitment to endless, preemptive wars in Afghanistan, Iraq and now Syria and elsewhere in the decades since. The 2008 housing bust and the Great Recession that only further benefitted corporations while grinding millions down into poverty and the gig economy.
https://www.aljazeera.com/indepth/opinion/america-isn-failing-state-failed-experiment-200420134026075.html

Red Pilled ThoughtCrimes

clintons in bed with fauci/gates/ gavi ID2020 as is the uk conservative regime

they are looking to make trillions of worldwide mandatory vaccines

Harry Smith

Forget the vaccines. Look at the prices of the most companies at the stock market. They gonna buy a lot of stuff for the price of 2 peanuts.

Red Pilled ThoughtCrimes

i know, its a manufactured recession. so the usual suspects will be scooping assets at rock bottom prices. but if gates etc can get mandatory worldwide vaccines for everybody, that is worth trillions
watch vanessa beeley YT video about the hidden hands guiding the government. it links the money trail to those who are advising government in making these tyrannical lockdown decisions

JIMI JAMES

Fake trillions won’t cut it in the real world of sustainable economys,like I said these nwo/nazi blowhards will be demolished by the essential gold backed currency players,china is leading the way,followed by russia and austtralia,
The facists scams have been blocked into the nationalist economic wealth,this means here on in they whom of gold backed weighted substance will be accepted as viable + taxable trade partners,no more free meals for branson!
Truth time,the nazi/cia.soros trills are all cryng in rage,rest assured no hake trillion bonds can ever save any nation in the long term,they us cant afford it!

Harry Smith

At my point it’s not the case. There is no global government, but 50-100 different financial corporations trying to empirically find the consensus. Vaccines, 5G etc are false flag actions to distract attention from the main line of changes.
According to the calculations, the western nations wealth may be reduced in 3-3.5 times to compensate the global misbalance in the wealth distribution. That is the thing which can be hardly accepted by the most of westerners. At my point of view.

Red Pilled ThoughtCrimes

vanessa beeley tracked the money trail
gavi ID2020 biggest funder UK conservative government, second biggest gates foundation
gates is the largest donor to WHo (the first being USA)
clinton foundation, fauchi, imperial college, and right up to neil ferguson who is advising bojjo

it was a manufactured recession

the people who want a new world order one world government are the people that run the banks

no country has its own bank

Ashok Varma

Indian media wrote of these crazy lockdowns as intentional to destroy the debt plagued western economies and rearrange them. Unfortunately for US and Europe, China, India, Indonesia and Asian economies now control the world.

Harry Smith

Not yet, I think. A dyeing lion is still a lion.

JIMI JAMES

Fake trillions=fake bonds,they will die in their own nazi poison,no sht!

Ashok Varma

Big pharma and Bilderberg global thieves will profit from this farce.

Red Pilled ThoughtCrimes
Traiano Welcome

“trade wars are fun and easy to win” — Orange Muppet.

Zionism = EVIL

Not only that, the moron loudmouth Trump encouraged the dumbass Saudi cunts to wage a suicidal oil price war with Russia and Iran, the strongest diversified economies in the region and the Saudi morons collapsed along with the oil price in less than four weeks.

Traiano Welcome

The Universe, which is nothing but an infinitely complex network of feedback mechanisms has a negative feedback loop which results in Power corrupting the powerful, which results in stupidity and thereafter Downfall, restoring the universal equilibrium. This sacred feedback loop is slow to cycle, but just as sure as gravity, it is there.

Zionism = EVIL

The Al-Jazeera article I posted below is quite good and rational analysis of the Americunt hubris and how the Zionist Bilderberg global plunderers ruined a hyped up Hollywood fantasy “superpower” that can not even produce ventilators or care about its pathetic people.

BMWA1

He has been irradiated by moronium

Zionism = EVIL

Trump is an ignorant narcissistic loudmouth and a typical hubris filled Americunt arsehole who still thinks that the corona infected shithole is an “indispensable” nation. The reality is that in mere 70 years since the USSR won the second world war, the Americunt delusional cunts have been living in Disneyland and their insane fantasy of “controlling” the world and wasting trillions of toilet paper dollars was bound to bankrupt them. It is a flawed racist shithole anyway and now has become the world’s laughing stock as the greedy Jew parasites have bankrupted the rednecks. This is just the beginning of the their end. Did anyone, even with their puny brains tucked up their anus ever think that a illiterate headchopping shithole like Saudi Arabia “win” an oil price war against the superpower Russia and regional powerhouse Iran which have highly diversified economies and educated populations. The moron Trump’s dumbest advice to MBS cretin fucked both the Americunts morons and their Saudi pimps.

JIMI JAMES

Oh well,it’s not like the russians started the sht,as per usual they only knew how to end it,seeya bush,cheney,hitlary,soros,cruze,nazi,gimps!

FRGN RUSSIA POWER,GET INTO THEM,KEEP ROLLING THEM BARRELS BOYS!

Zionism = EVIL

Like I said many times, Russia despite its flaws is still a technological powerhouse and a superpower. Russia is the largest and richest country on the planet with immense resources and still a pretty nationalistic population and anyone who thinks that Russia is a pushover, needs to pop some more LSD. The day the Saudi fuckwits started threatening Russia and Iran, I knew they will fuck themselves and their Americunt dumbass masters and they surely did.

Red Pilled ThoughtCrimes

you need to install updates to your programming little npc. China is what you are supposed to be outraged by today

Traiano Welcome

That’s gonna cost extra. Whose payin’ ?

occupybacon

China by appearance

cechas vodobenikov

low quality amerikan oil—now worthless…a diseased empire in decline…the amerikan mind has become confused after years of self abuse, anxiety…consuming more heroin, marijuana, cocaine per capita …80% of the legal psychotropics and 66% of the antidepressant in the entire world in the past decade……since covid hysteria, the amerikans have become alcoholics
http://www.sott.net/article/432933

JIMI JAMES

The kweer glory conscript in 2015 was the final abonimnation,indeed kweers failed the worlds!

Ashok Varma

US shale is very quality and worthless like Canadian polluting tarsands. India’s top choice is Iran’s high quality premium oil and direct link to Chah Bahar. Why would anyone pay $60 for inferior US oil? Trump gave very useful and helpful advice to his Saudi friends obviously, that bankrupted them.

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