Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 685.40

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Jan 21 4:00 PM EST

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To: GROUND ZERO™ who wrote (143025)	3/30/2020 5:50:27 PM
From: GoodGord	Read Replies (1) of 222196

"Currently, there are a few out-of-the-way places in smaller oil markets where stories of negatively priced crude are happening now. As Goldman Sachs wrote today, “the demand shock is extremely negative for oil prices and is sending landlocked crude prices into negative territory.” In other words, producers pay someone to take the crude, rather than get paid for it. Why would they do that? Because it’s expensive to shut down or reopen a well, and may actually be cheaper to simply pay someone to remove it, especially if you believe prices may turn higher in a few months." cnbc.com

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