There's something you don't see every day...
Crude Oil has gone negative?
Well not really negative, but that is the headline floating around due to how it is priced used options contracts.
Check it out:
The benchmark index is changing the way its priced via oil contracts, moving from one month out to two months out, which is really making things look goofy.
None more goofy than this:
Pay special attention to that sign there in front of the percentage...
It's a negative sign:
(Source: https://finance.yahoo.com/quote/%5EGSPC?p=^GSPC)
Since when can something lose more than 100% of its value?
Strange day out there...
Of course all this turmoil isn't being kind to bitcoin either.
Currently down about 5% from yesterday's highs...
Stay informed my friends.
-Doc
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Landlocked crude is actually priced negative because the storage is full and if you turn off a well you destroy it.
Strange times out there, and it's not like you can buy USO to try and get involved.
They are going to have to roll out the ships and fill them up.
We are going to have oil coming out our ears.
Posted via LeoFinance
I read something about the government mulling around the idea of paying supplies to stop producing... but it's shelved for now.
Even the tankers are filling up.
What I want is a crude oil burning mobile Bitcoin mining rig!
Future oil contracts are very interesting.
They are heading towards negative because of the surplus issue. Holding a contract means taking delivery at some point. With storage facilities filling up, people are not sure where to put all the oil.
Thus, companies are going to have to pay people to take oil off their hands.
It is a nasty situation in the oil markets and will likely continue for a while.
Posted via LeoFinance
Yep, strange times out there.
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Because crude oil is valuable like gold and currencies can be tied to it, it is obvious why crude oil goes negative.
It's never happened before, ever.
There is always a first time... Like I said earlier, there will be financial crisis this year and the critical point will be June 1st... What we see now is the early symptoms.
Ready to buy that big truck and airstream now ....
Yea, it was interesting that TESLA was flying up while oil was crashing initially, but if you think about it, gasoline is going to get so cheap that people aren't going to be feeling so inclined to buy electric anymore...
Very true. But at some point oil will go back up.
Bitcoin used to run its own course, nowadays it fallows every market that's falling.
Financial markets going down, Bitcoin follow, crude oil falls, Bitcoin too. Wander what next will cause Bitcoin to go even lower?
Yep, bitcoin went from an uncorrelated asset, to highly correlated with risk assets.
Two links, and a screenshot from yahoo finance, that’s a post? What new information are you giving to your readers?
What is in here that people can’t find with just a 1 second glance on google or CNBC? You clearly have no insights in the subject.
“Stay informed my friends” ... what information are you sharing?
Please stop milking the reward pool.
Is there a minimum word requirement for a post? If so, please let me know what that is.
Um, this whole post was the new information. It was posted as it was happening, hence the "NEWS" tag. The whole point of having it here was that people don't have to do your "glance on CNBC or google", they can stay informed directly from following my blog which is exactly what you should be wanting people to be doing... staying on HIVE for information instead of having to go elsewhere.
Which, the benchmark oil index going negative was a pretty unusual thing, it's never happened before in oil's long history of trading.
Regarding "milking the reward pool"...
I just post what I find interesting, informative, and what I also think many of those interested in crypto and finance would also find interesting and informative. Plus I like to have a little fun on my blog, which is another thing we should be encouraging on here.
If there are limits to how much people can post, that's fine, but make sure you apply it site wide, there are a couple other authors that come to mind that are left alone on this as well.
Agree!
No, but your readers, like me can make a determination on what is "effort" and what is not. So I reserve that right. And so do you.
Yes, but that information can be found at a number of places. You didn't gather that info, neither you put any effort to add you view on it nor you seem capable, based on your comments. Because, I have a feeling you do not have any idea how crude oil futures trades.
By the way, that contract you are talking about is called /CLK20... it is still trading now 5.18 -5.37. But the active contract is /CLM20 which is trading 14.12-14.13 at the time of my writing.
Benchmark oil index, didn't go negative yesterday. Just the future contract /CLK20 did. This is just for your education. You can read up more on how futures market actually trade.
You are perfectly fine posting whatever you like, as long as you do not feel that you are entitled to any reward. I like for you to have as much fun as you want :)
Cheers!
PS: See, this is new information. That image above is from my personal platform; you can't find it on the internet :)
Also, regarding milking, I will let community decide what is an acceptable form of self-voting and also giving 63% of votes to 5 account is considered acceptable or not. Not to forget taking 200K HP (SP) out of the reward pool :)
Ah, so effort is what determines a post's value. So by your own definition, anything that is "of low effort" should not be rewarded much, but high effort should.
Therefore, long technical posts with lots of personal pictures or long vacation posts 'deserve' more rewards than short form content, according to your line of thinking. Irregardless of the fact that many of those such posts get almost no views, and no interaction. Plus to be frank, the latest news has a lot more interest to a lot more people than some vacation photos or a technical post with limited audience. If you are talking about what actually adds value to the platform, the thing that people are actually interested in talking about and seeing likely adds more real value.
FWIW In general, attention spans are getting shorter and much of the world is migrating towards shorter content and trying to encourage long form content is probably going the wrong direction.
While true, it is the quote that analysts/investors/traders around the world quote when talking about the price of oil. A perfect example can be seen on yahoo finance where they simply use the term "crude oil price" and list the current month's future's price:
A number which happened to go negative yesterday for the first time ever due to the contract the price is quoting.
Cool, that's great, so do a post about it! Nothing's stopping you if you are an expert oil trader.
So, there are requirements with how many people we must vote each day now, what is that number specifically? And again, make sure you apply it site wide. And yes, everyone should vote their own post. If they don't think it's worth their own vote, they probably shouldn't post it.
What does that have to do with anything? First it was about the post "quality", then it was about the number of people I vote for, and now it is about how much I have earned in my 4 years on the site... the goal posts are ever shifting... are you trying to imply that once someone earns a certain amount of SP/HP they are not longer able to earn any more? Again, make sure you apply that site wide and what number is that specifically?
If you do want to go down that road though, look at my accounts on steem/hive and see how much SP/HP I am holding, and that doesn't include what I am holding on a couple exchanges. I am still holding a large portion of everything I have earned, so one could make the argument, again from a purely economical perspective, that it has been better off than had that same SP gone out to those that were dumping it on the open market over the last 4 years...
Not to mention that much of anything I have sold has been bought back, and then some...
Thank you for making your thinking visible. I learned a lot about you that way. I have a little doubt towards the back of my mind, thank you for clearing that up. Appreciated!