Oil below Zero Dollars a barrel
The Oil markets are a really dumpster fire these days. With the Russian and Saudi oil wars going on the result has been a flood of oil in the markets. Prices collapsed for the May 2020 contract to -$37.63 a barrel. That’s nuts.
I’m starting to see prices being pushed down at gas stations too. Since Covid19 put a damper of travel, I think well see sub $10 a barrel oil coming. It’s easy to see from the continuous contract of Light Crude Oil that we’re definitely in a downward trend.
WITC in April 2020, below $0 per barrel
Granted, this is just yesterday’s news. The news cycle nowadays is so fast and furious that it’s easy to get overwhelmed by it. Still, it’s a good idea - at least for me - to write and post about it on my little slice of the Internet. Years later, when this all has passed I’ll find this old post and reminisce about the crazy times I lived through.
I do like to go over my old blog posts in the future and read what I was thinking or writing about back then. I realized how much ‘gold’ was in my old posts after I repopulated them. That history was a slice into my mindset, my goals, and my hopes and dreams. Plus, there’s a lot I can learn from those old posts.
History is valuable if you learn from it.