Oil down 20% this weekend

[Montecfo]

Russia and Saudi Arabia squabbling. Monday will be another wild one.

 

[NW-Bound]

I have been alternating year to year between a long trip in Europe and a long RV domestic trip. This year 2020 was scheduled for RV'ing.

All right! Have cheap gas, will travel.

 

[Fermion]

I have been alternating year to year between a long trip in Europe and a long RV domestic trip. This year 2020 was scheduled for RV'ing.

All right! Have cheap gas, will travel.

Hope you have hand wipes for the pump handles.

 

[NW-Bound]

I will need to search the Web to see if gasoline kills viruses.

 

[Fermion]

I will need to search the Web to see if gasoline kills viruses.

I would think that it would, easily.

 

[NW-Bound]

I would think that it would, easily.

Even when it is not set on fire?

 

[brewer12345]

I will need to search the Web to see if gasoline kills viruses.

Just wear a glove while fueling.

 

[GenXguy]

There goes my energy fund again. It's been a loser for years.

 

[footenote]

Fascinating that Saudi Arabia has the reserve financials to kill Russia, one barrel-price-drop at at time, during a COVID19-driven depression of oil demand. Russia is utterly dependent on its petrochemical economy.

 

[USGrant1962]

I mentioned in another thread that I'm thinking about LEAP options on XOM - looking better in a few days I think.

 

[street]

Even when it is not set on fire?

LOL!
Rubbing Alcohol >>> 90% alcohol rubs are more effective against viruses than most other forms of hand washing. Isopropyl alcohol will kill 99.99 % or more of all non-spore forming bacteria in less than 30 seconds, both in the laboratory and on human skin. Alcohol rub sanitizers kill most bacteria, and fungi, and stop some viruses.

but gasoline might be cheaper to use. Lol Being frugal is a hard habit to break. Lol

 

[NW-Bound]

Speaking of LEAF options, I remember in 2002 or 2003 buying a few contracts on an electronics part maker. I don't remember all the details such as the strike price in relation to the then current stock price, but the options were 2 years out and they still expired worthless.

The lesson I got from that was that things could be worse and take a longer time to recover than I thought.

 

[aja8888]

Let me add to the pile on tonight's action.....

Dow futures plunge 1,000 points, crude prices tumble as fears of oil price war add to virus angst....

https://finance.yahoo.com/news/dow-futures-plunge-1-000-234211153.html

 

[NW-Bound]

Speaking of disinfectants, I will not go anywhere without my vial of bleach. Beats alcohol, Purell, gasoline, vinegar, Tabasco sauce, or anything else out there. And it's dirt cheap too.

 

[street]

aja8888 >>> Yah, that is not good news. I'm in a IRA rollover to another company so it will set me back but hoping now to buy back in markets at lower share prices.

NW-Bound
Yes, bleach is as good as it gets, I forgot to mention.

 

[retiredunder50]

Oh Oh, the futures for the DOW, S&P 500 and NASDAQ are nearly 5% down at 11 PM on the east coast. Mon is going to be an interesting day indeed.

 

[Freedom56]

As I have stated many times over years on this forum, avoid the energy sector as it is in a secular bear market. People think this sector will rebound like it did in the early 2000's. It won't. Many of these companies had pristine balance sheets in the late 90's and early 2000's. But with low interest rates, the energy sector went on a debt issuance binge and did stupid things with debt like buy back stock, invest in mega capital projects with very low projected ROI, and pay dividends that could not be supported by free cash flow. The oil service sector is completely wiped out. The major oil companies like Exxon and Chevron are facing declining demand with a glut of supply. That won't change anytime soon.


Just my perspective as a bond investor who actually looks at income statements and balance sheets.

 

[audreyh1]

Just wear a glove while fueling.

DH does anyway because that gasoline stinks!

 

[Mr. Tightwad]

DH does anyway because that gasoline stinks!

One of the reasons I went electric. Great to not smell that anymore.

 

[Aus_E_Expat]

Crude oil down 28%.

Australian share market closed down 7.33% which is it second worst ever performance.

All driven by irrational behaviour but it is the correction the market needed to have.

 

[CaptTom]

Speaking of disinfectants, I will not go anywhere without my vial of bleach. Beats alcohol, Purell, gasoline, vinegar, Tabasco sauce, or anything else out there. And it's dirt cheap too.

And so tasty, too!

Besides, I already ate all the Tide pods.

[Sorry, I couldn't help but think of the warnings being issued against the stupid idea of drinking the stuff to ward off the virus. Maybe it's a day for gallows humor.]

Buckle up. Gonna be a wild ride!

 

[RetireAge50]

Great news! We are traveling in an RV for a couple months, yesterday filled up in Glendale AZ $2.659. Texas here we come?

 

[tps7742]

Great news! We are traveling in an RV for a couple months, yesterday filled up in Glendale AZ $2.659. Texas here we come?

If you liked that price you are going to love it in Tx, especially when the price at the pump adjusts to this most recent downturn. Safe travels.

 

[mountainsoft]

Rubbing Alcohol >>> 90% alcohol rubs are more effective against viruses than most other forms of hand washing. Isopropyl alcohol will kill 99.99 % or more of all non-spore forming bacteria in less than 30 seconds, both in the laboratory and on human skin. Alcohol rub sanitizers kill most bacteria, and fungi, and stop some viruses.

I don't like hand sanitizers. I prefer not to rub flammable liquids on my skin or smell like alcohol.

A class project from Dec 2019 showed hand washing was still better than hand sanitizers (see the 1:09 mark):

 

[GreenEggs]

So, I know this is a naive question, but why can't we just halt oil imports to prop up US oil suppliers?