Phil1111 1,183 #1 Posted April 20, 2020 Physical oil prices go negative at several US delivery points and grades These were updated a few minutes ago: Alaska north slope -$3.47/barrel Thats minus. If you want to take delivery you will be paid to take US away. Bakken UHC -$2.97/barrel Minus Bakken Guernsey -$1.97/barrel Minus Oil prices dive more than 100 per cent into negative prices as demand collapses This will start a tsunami of US oil producers into bankruptcy. It will also result in many US regional bank collapses. Saudis to sell 600,000 bbl of oil a day to the U.S. in April Tankers carrying 7x normal monthly amount of Saudi crude coming to U.S. So once again the Saudi government has attacked the US just as they did in 9/11 and once again they will get away with it because republicans like to suck Saudi _______! Quote Share this post Link to post Share on other sites
headoverheels 334 #2 April 20, 2020 May 20 futures hit -$40 today. June is still $21. Quote Share this post Link to post Share on other sites
JoeWeber 2,940 #3 April 20, 2020 1 hour ago, Phil1111 said: Physical oil prices go negative at several US delivery points and grades These were updated a few minutes ago: Alaska north slope -$3.47/barrel Thats minus. If you want to take delivery you will be paid to take US away. Bakken UHC -$2.97/barrel Minus Bakken Guernsey -$1.97/barrel Minus Oil prices dive more than 100 per cent into negative prices as demand collapses This will start a tsunami of US oil producers into bankruptcy. It will also result in many US regional bank collapses. Saudis to sell 600,000 bbl of oil a day to the U.S. in April Tankers carrying 7x normal monthly amount of Saudi crude coming to U.S. So once again the Saudi government has attacked the US just as they did in 9/11 and once again they will get away with it because republicans like to suck Saudi _______! As usual the wholesale price of Jet-A has remained stable. Somehow or another that cheap oil never seems to make it into my tankers. 2018 1.969 1.911 1.893 2.032 2.175 2.152 2.140 2.148 2.214 2.296 2.100 1.811 2019 1.822 1.925 1.960 2.022 2.061 1.879 1.938 1.864 1.898 1.931 1.922 1.932 2020 1.893 Quote Share this post Link to post Share on other sites
gowlerk 2,276 #4 April 20, 2020 (edited) 1 hour ago, JoeWeber said: As usual the wholesale price of Jet-A has remained stable. Somehow or another that cheap oil never seems to make it into my tankers. 2018 1.969 1.911 1.893 2.032 2.175 2.152 2.140 2.148 2.214 2.296 2.100 1.811 2019 1.822 1.925 1.960 2.022 2.061 1.879 1.938 1.864 1.898 1.931 1.922 1.932 2020 1.893 Oil is cheap and available just east of you. Have you considered setting up your own fractional distillation plant? Edited April 20, 2020 by gowlerk Quote Share this post Link to post Share on other sites
Phil1111 1,183 #5 April 20, 2020 (edited) Big oil is F*#king the little guy as usual. Large users are probably getting rebates. Probably too depressing for you to see this one Joe. Edited April 20, 2020 by Phil1111 Quote Share this post Link to post Share on other sites
JoeWeber 2,940 #6 April 21, 2020 1 hour ago, Phil1111 said: Big oil is F*#king the little guy as usual. Large users are probably getting rebates. Probably too depressing for you to see this one Joe. Thanks Phil, you're always there to cheer me up. I won't forget, I promise. Seriously, Jet-A pricing at the DZ level has been mostly constant at for decades. Maybe +/- a buck some years, but irrespective of the meme, fuel isn't a dominant cost in a jump ticket. Actually, jump tickets for up jumpers in the US are all subsidized by student tickets at 60-70% of DZ's based on my aircraft leasing experience. So I'm not depressed. I'm tanked up and ready to roll. The thing is, I do not think US skydiving will roll this year. I also think next year will be a trial. Quote Share this post Link to post Share on other sites
airdvr 210 #7 April 21, 2020 I know how bad you want this to be about Trump but in reality it has more to do with Covid-19. Quote Share this post Link to post Share on other sites
Phil1111 1,183 #8 April 21, 2020 (edited) Aviation has always been a highly leveraged industry. With low interest rates debt is high. Richard Branson has said he needs financial help for Virgin Atlantic to survive. But like the cruising industry he is tax haven based. So his private island is now collateral. Airbus, Boeing and every airline is going to be deep into their lines of credit by the time this is all done. Or worse. Skydiving, while the customer base is a little more risk tolerant. Also has the big advantage in the C-19 era. Where the passengers don't need a 14 day quarantine upon arrival at their destinations. IMO aircraft prices, leasing companies, repair facilities will all face serious pressures. Edited April 21, 2020 by Phil1111 Quote Share this post Link to post Share on other sites
Phil1111 1,183 #9 April 21, 2020 16 minutes ago, airdvr said: I know how bad you want this to be about Trump but in reality it has more to do with Covid-19. Accurate, but as long as trump is at the controls it will rough ride with CAT events throughout the flight. Quote Share this post Link to post Share on other sites
JoeWeber 2,940 #10 April 21, 2020 2 hours ago, airdvr said: I know how bad you want this to be about Trump but in reality it has more to do with Covid-19. ??? WTF dude, I gave a very simple and far from complete view of things from my perspective. If you have a better understanding of things based on your experience I'm here to learn. Quote Share this post Link to post Share on other sites
