Oil prices taking a dive!

[debbiedowner]

No, that production would not come online until 2026 at earliest, assuming they actually find developable reserves.

He was wrong anyway. It dropped because OPEC + reversed their decision and will not up production output.

 

[justoffal]

If gas doesn't drop in the next week then we are all being gouged. Hell, gas went up 8 days ago in my area, before oil dropping. We'll see in a week.

Yep there's gouging

 

[Cellblock2429]

If gas doesn't drop in the next week then we are all being gouged. Hell, gas went up 8 days ago in my area, before oil dropping. We'll see in a week.

/—-/ It’s the end of heating oil season and the winter gas blend. Soon the summer driving season starts.

 

[debbiedowner]

/—-/ It’s the end of heating oil season and the winter gas blend. Soon the summer driving season starts.

I know and usually they start changing their gas over about this time of year and plus vacations. Won't see much of a down turn for a while.

 

[Cellblock2429]

I know and usually they start changing their gas over about this time of year and plus vacations. Won't see much of a down turn for a while.

/—-/ As Obozo taught us, high gas prices mean a strong economy.

 

[justoffal]

/—-/ It’s the end of heating oil season and the winter gas blend. Soon the summer driving season starts.

Yeah but EVs.... Supposedly they're going to cut way into the sales of gas this year. That means there will be a much higher demand on the power plants.

 

[justoffal]

/—-/ As Obozo taught us, high gas prices mean a strong economy.

Lol.... Yeah at that point in his life he was into the market.

 

[egp320i]

/—-/ Write covered calls to recoup losses. Or if you don’t trade options buy the inverse oil ETF.

https://www.investopedia.com/markets/quote?tvwidgetsymbol=SCO

I know how they work but I never tried to hedge a stock, not sure you can do that through schwab, better to buy an oil ETF and let the managers handle that aspect

 

[Cellblock2429]

I know how they work but I never tried to hedge a stock, not sure you can do that through schwab, better to buy an oil ETF and let the managers handle that aspect

/——/ I’m with Schwab only because of Think or Swim. By hedge, you mean what exactly?

 

[egp320i]

you short a stock in the hopes it goes down but it's a huge risk

 

[Cellblock2429]

you short a stock in the hopes it goes down but it's a huge risk

/—-/ Yes, you can short a stock at Schwab. You need to have cash on hand to buy it if it sinks or bounces up. I’m very aggressive investor but don’t short stocks.

 

[egp320i]

/—-/ Yes, you can short a stock at Schwab. You need to have cash on hand to buy it if it sinks or bounces up. I’m very aggressive investor but don’t short stocks.

not aggressive or short, for that you would really need to be a daytrader and be online in your account all day

 

[Cellblock2429]

not aggressive or short, for that you would really need to be a daytrader and be online in your account all day

/——/ Not really. You set up
Alerts that text you when a stock hits a certain price either up or down.
But, again, I aggressively trade options, but I don’t short.

 

[22lcidw]

No, that production would not come online until 2026 at earliest, assuming they actually find developable reserves.

China has more than 1000 coal energy plants and more are being built. Please. Destroy yourselves. Leave others out of it.

 

[Zincwarrior]

China has more than 1000 coal energy plants and more are being built. Please. Destroy yourselves. Leave others out of it.

Thats cool and all but not related to developing oil reserves.

 

[FireFly]

As of April 16, 2025, Cushing, OK Crude Oil Stocks were at 25.10M, down from 25.76M last week and 32.99M a year ago.

Low storage levels (below 20 million barrels) can impact operational efficiency and oil removal. Tank storage levels below 20 million barrels are considered close to operational lows, potentially making it difficult to remove oil.

US Operational Oil Drilling Rig Count has fallen a lot this year. US weekly oil production is down from December 2024 all time record highs under Biden.

Trump will soon have US over a barrel again

Obama Oil Rig Count Oct 2014 = 1593
Trump Oil Rig Count. Aug 2020 = 178
Biden Oil Rig Count . Jan. 2023 = 727
Trump Oil Rig Count is DOWN 34 from last year.

Last time Trump's MAGA government spending was 55% of the US economy!!!! The most centralized spending by gov & elites in US history. Empty store shelves, high prices for basic needs, food lines, toilet paper rationing, junk aircraft that crash & kill passengers, bankrupted 200 US oil drillers, the most unemployment & deficits in history.