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16.06-4.37. June contract tanking Round 2

Look at June contract tanking and it's only day 1 This is going to be extremely unsettling for the equity markets once again.

So he says he was worth $100 million which is now about half that and pushed $3 million into his etrade account. So if he loses the whole $3 mill he still has money to retire on. And now with people watching him stream live im sure he can make some dollars off of his 1.2 million followers and...

Its happening again. The june contract is tanking. Said that the average contract for 2020 and half of 2021 is approximately $30 a barrel but say its way too high. So it looks like a gigantic readjustment in prices is going to occur. And just to think the fools who thought the world was in a...

How do we know june contracts won't sink like may did in the next 2 -3 weeks? I read the average spread is usually less than a dollar. Right now that spread is 8-10 dollars!!!!

That will never know. Impossible to know

So tomorrow oil goes back to 20 as if today never happened

USO still trading where it opened up at around $3.80

Yep. Would be nice to get gas for 17 cents a gallon but nope, not happening. If oil jumped to 397 a barrel they would kindly give you gas at $17 a gallon!!!

Hahah....free money for everyone, right?

Honestly oil is literally saying DEPRESSION!!!!

its amazing how this is unfolding and 99.9% of us here had no clue this was possible. What happens to gas prices?

-53.47 (-292.67%)

Negative $35 a barrel!!!!!!!!!!

Its now-35 Negative

So what happens tomorrow with oil? Is gas literally a buck a barrel? That means gas prices would be about 30 cents a gallon.

So what happens tomorrow?

https://www.cnbc.com/2020/04/20/oil-markets-us-crude-futures-in-focus-as-coronavirus-dents-demand.html

Will it jump to 20+ once the contract expires and the June one comes into effect?

I'm confused ....is this just the may contract expiring? Or is oil really under $2 a barrel?