Who has ever seen a 1 cent per barrel crude oil price?

It is playing out before our very eyes. The product is now briefly worthless in the international market!

Cite the source of the information or we consider it FAKE NEWS!!!

It's becoming scary...


Doom at sight.

I pity Nigeria. If it goes worse. It's gonna be catastrophic

pfadom:
Cite the source of the information or we consider it FAKE NEWS!!!

It's 100.

True

It's heading for a negative sign! Unprecedented predicament, this.

pfadom:
Cite the source of the information or we consider it FAKE NEWS!!!

I am showing you a live chart from Tradingview and you are asking for source...keep asking. Your country will soon declare bankruptcy and you will still be asking for source.

It's true. Saw it on Bloomberg

Otedollar

stagger:
Who has ever seen a 1 cent per barrel crude oil price?

It is playing out before our very eyes. The product is now briefly worthless in the international market!

that's not crude oil price. crude oil is currently at $20 per barrel. Nairaland admin that took that fake news on crude oil price to front page, clearly shows that nairaland admin doesn't know what's happening in the business world but deceiving the public with misinformation. The chart you displayed is not the main crude oil price. I believe you are still a newbie in trading. crude oil is $20.9 per barrel now.

stagger:


I am showing you a live chart from Tradingview and you are asking for source...keep asking. Your country will soon declare bankruptcy and you will still be asking for source.

No mind the guy he knows nothing about the financial market

Same Frankenstein of 1983 overseeing a worse time in the life of this country.
What a cursed man!

Samyj247:
that's not crude oil price. crude oil is currently at $20 per barrel. Nairaland admin that took that fake news on crude oil price to front page, clearly shows that nairaland admin doesn't know what's happening in the business world but deceiving the public with misinformation. The chart you displayed is not the main crude oil price. I believe you are still a newbie in trading. crude oil is $20.9 per barrel now.

There are different types of crude oil Oga.

All these prices given are correct, but its because people are not moving again so the demand is low and price will be low too.

It will pick up again fast once COVID-19 is gone.

Samyj247:
that's not crude oil price. crude oil is currently at $20 per barrel. Nairaland admin that took that fake news on crude oil price to front page, clearly shows that nairaland admin doesn't know what's happening in the business world but deceiving the public with misinformation. The chart you displayed is not the main crude oil price. I believe you are still a newbie in trading. crude oil is $20.9 per barrel now.

Since you are a pro in trading, can you spot the technical patterns on this chart and put them up for the "newbies" in trading to see?

excanny:


There are different types of crude oil Oga.

All these prices given are correct, but its because people are not moving again so the demand is low and price will be low too.

It will pick up again fast once COVID-19 is gone.

I do not even want to answer him. Let him answer the question I have posed for him above. I am ready to take him to the cleaners.

excanny:


There are different types of crude oil Oga.

All these prices given are correct, but its because people are not moving again so the demand is low and price will be low too.

It will pick up again fast once COVID-19 is gone.

there is a difference between WTI and Brent crude..but u guys makes it looks as if its the main crude I.e Brent crude that crashed. na wa o. If you don't understand what the news entails, don't spread fake news and add ur own jara. I was shocked when I saw that oil price crashed to $11 on front page. The title is misleading and I believe ignorant Nigerians must have spread the fake interpretation everywhere.

Samyj247:
there is a difference between WTI and Brent crude..but u guys makes it looks as if its the main crude I.e Brent crude that crashed. na wa o. If you don't understand what the news entails, don't spread fake news and add ur own jara. I was shocked when I saw that oil price crashed to $1 on front page. The title is misleading and I believe ignorant Nigerians must have spread the fake interpretation everywhere.

My friend we are not talking about the difference between Brent crude, which is the world crude oil benchmark, and West Texas Intermediate.

I asked you a question and showed you a simple weekly chart for BP. Trace the technical patterns on this chart and prove you are a trader first, before you call others newbies.

stagger:


Since you are a pro in trading, can you spot the technical patterns on this chart and put them up for the "newbies" in trading to see?

kids I am out of here. I just want to correct u guys and also correct nairaland admins mynd44 and the rest should take note. I was totally disappointed when I saw on front page that oil price is now $11 per barrel. na newsbies like una weh no know wetin de sup go see news interpret as u like con spread am even when u don't understand what the news is saying.

The sooner you come to reality the better for you. How many people are buying Brent price of $20now. Crude price is now Negative. What does that mesn? If you are an oil company you have to pay a buyer to take it and store it for you. That's why it's technically Usd0.01
No body is buying bonnylight or forcados. Nigeria will have to pay for someone to take it and store for them hence the negative price. If not the Oil companies will shut down and declare bankrupt. leave your computer and visit Texas or Bonny and see what is happening. That graph is 100% correct.


https://gulfnews.com/business/energy/crude-oil-prices-plunge-below-zero-for-first-time-in-unprecedented-wipeout-1.1587403968035

Samyj247:
there is a difference between WTI and Brent crude..but u guys makes it looks as if its the main crude I.e Brent crude that crashed. na wa o. If you don't understand what the news entails, don't spread fake news and add ur own jara. I was shocked when I saw that oil price crashed to $1 on front page. The title is misleading and I believe ignorant Nigerians must have spread the fake interpretation everywhere.

Still don't understand why you quoted me.

Cos I clearly stated that there were different types of crude oil.

Current price is 0.07

Samyj247:
kids I am out of here. I just want to correct u guys and also correct nairaland admins mynd44 and the rest should take note. I was totally disappointed when I saw on front page that oil price is now $1 per barrel. na newsbies like una weh no know wetin de sup go see news interpret as u like con spread am even when u don't understand what the news is saying.

You called me a newbie.

Since you are a pro in commodity pricing and trading, I have called you out now to do a simple test on your knowledge of trading and you are running. Tomorrow call another person newbie again.

Since you cannot pass the test, I will do it for you. Take this as a basic lesson on chart patterns.

Can you name all the patterns I have marked for you to identify. Since you are pro trader, this should not be hard for you.

Samyj247:
kids I am out of here. I just want to correct u guys and also correct nairaland admins mynd44 and the rest should take note. I was totally disappointed when I saw on front page that oil price is now $1 per barrel. na newsbies like una weh no know wetin de sup go see news interpret as u like con spread am even when u don't understand what the news is saying.

let me make the trends and price targets clearer to help you.

a) Identify the patterns
b) Identify the arrows and what they mean.

Prove to us how much of a pro trader you are.

Where is the pro trader who says I am a newbie in trading but is having a hard time taking up my challenge?

stagger:
Where is the pro trader who says I am a newbie in trading but is having a hard time taking up my challenge?

Chai! Bros, pity the guy naaa. Lol... Guess he didn't know he was getting into a booby trap.

weedfada:


Chai! Bros, pity the guy naaa. Lol... Guess he didn't know he was getting into a booby trap.

Don't mind him. Imagine him calling me a newbie. Whereas he himself knows nothing, nada, zilch about trading.

Good time for people with money to invest in Oil stock.
Money why did you depart me? Money why??

Plut01:
Good time for people with money to invest in Oil stock.

Money why did you depart me?
Money why??

I think options would even be more profitable. I would have invested in options if Bonny Light falls to like $18. I doubt it can go lower than that.

Before the world's lockdown will truly begin to wind down, add another 1 month but I would actually say 3 months.

Even if the government begins to lift restrictions, if the citizens of the rich would don't feel safe, it would hurt consumer spending. It will take about 6 months before there's enough confidence for part of the world to start humming again.

grandstar:


I think options would even be more profitable. I would have invested in options if Bonny Light falls to like $18. I doubt it can go lower than that.

Before the world's lockdown will truly begin to wind down, add another 1 month but I would actually say 3 months.

Even if the government begins to lift restrictions, if the citizens of the rich would don't feel safe, it would hurt consumer spending. It will take about 6 months before there's enough confidence for part of the world to start humming again.

I love options, but would have to study which of the various options would work for me. Also, I need a broker that can provide access to unlimited options. I once tried credit spreads on EasyMarkets on a demo account and I liked the results. Unfortunately looks like they took it off.

excanny:


There are different types of crude oil Oga.

All these prices given are correct, but its because people are not moving again so the demand is low and price will be low too.

It will pick up again fast once COVID-19 is gone.

It may get to late 2020 or even 2021 before the price of crude oil picks up again

Cargoed:
The sooner you come to reality the better for you. How many people are buying Brent price of $20now. Crude price is now Negative. What does that mesn? If you are an oil company you have to pay a buyer to take it and store it for you. That's why it's technically Usd0.01
No body is buying bonnylight or forcados. Nigeria will have to pay for someone to take it and store for them hence the negative price. If not the Oil companies will shut down and declare bankrupt. leave your computer and visit Texas or Bonny and see what is happening. That graph is 100% correct.


https://gulfnews.com/business/energy/crude-oil-prices-plunge-below-zero-for-first-time-in-unprecedented-wipeout-1.1587403968035

True that.