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Environment & Energy

calguy

(5,306 posts)

2. It didn't help much

Reply to Eugene (Original post)

Thu Apr 9, 2020, 08:16 PM

Apr 2020

Oil prices crashed on the news because a cut of 10 ml bpd is not nearly enough. Oil prices won't recover until demand goes up and demand won't go up until the virus gets handled and people start driving and traveling again. I bought some long oil options that expire in Oct. I think it's a good time to slowly aquire positions for when oil recovers. And it will. These prices are not sustainable.

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Highlight:

Saudi, Russia agree record oil cut under U.S. pressure as demand crashes [View all] Eugene Apr 2020 OP

oh great trump trying to raise oil/gas prices during economic crash...so his buddies will not msongs Apr 2020 #1

It didn't help much calguy Apr 2020 #2