BRENT - page 8

[Дмитрий]

The spot price of Russian Urals crude has reached negative values, following US WTI. This is reported by Rambler. Next: https://finance.rambler.ru/markets/44051255/?utm_content=finance_media&utm_medium=read_more&utm_source=copylink

[Sergey Chalyshev]

wow! first time I've seen that, oil went as low as minus-40

[aleger]

Sergey Chalyshev:

Wow! First time I've seen that, oil went as low as minus-40.

They're stopping the wells?

[Дмитрий]

Oil has collapsed because wells are NOT being stopped - we need to make room in the overflowing storage tanks

[aleger]

Дмитрий:
Oil has collapsed because wells are NOT being stopped - we need to make room in the overflowing reservoirs

It is not certain that the space required will be available by then

[Aleksey Semenov]

someone made a lot of money - the contract for May is -16, no - at the peak it was minus $40 - someone promised oil at $40 a barrel, but did not specify what was minus, like buy oil from us, we will pay you $40 to buy it

[Roman]

Sergey Chalyshev:

wow! first time I've seen that, oil went as low as minus -40

So this is the first time ever, everyone is seeing it for the first time ))
Not bad, huh? Buy it, we'll give you more money. Just buy it. We have nowhere to put it. They pumped it up, they pumped it up.
In the end, whoever bought at a negative price, and went on delivery, gets the goods for free, or even with a surcharge to you.
Not bad, huh? You get the goods and they give you more money )).
At times like this, oil consumers have to buy up these contracts and fill up their reservoirs ))
In fact, in the May contract, they gave away the oil for free, and also gave you money on top, just take it away ))

https://www.rbc.ru/economics/21/04/2020/5e9df3249a79470ff099ae32

[Roman]

Sergey Chalyshev:

wow! first time I've seen that, oil went as low as minus -40

Metatrader, on the other hand, died at zero price.
And it does not display negative prices.
Probably because of the setting to display or not to display negative prices, as in custom symbols.
This is again another error in the terminal.

[Roman]

prostotrader:

Trading suspended on 3 cents

Trading was not halted, as confirmed by the exchange price.
This revealed a bug in the applications, which do not display negative prices.

[Roman]

Vasiliy Vilkov:

Here they are, the true victims of the coronovirus... Not the ones lying in hospitals coughing)))

It's a good lesson for everyone in understanding that they(the manufacturers) are nothing, without sales.
To bankrupt them, all you have to do is refuse to buy)).
In principle, this theory applies to any commodity.

And it's a good lesson in understanding supply and demand.
Many people here don't understand this and think that supply and demand have no effect on prices.
Here's a clear example, for those who are in the tank))