NexusFi: Find Your Edge


Home Menu

 





Oil price negative?


Discussion in Commodities

Updated
      Top Posters
    1. looks_one SMCJB with 71 posts (168 thanks)
    2. looks_two GFIs1 with 33 posts (98 thanks)
    3. looks_3 SunTrader with 25 posts (13 thanks)
    4. looks_4 NotKenGriffin with 15 posts (10 thanks)
      Best Posters
    1. looks_one GFIs1 with 3 thanks per post
    2. looks_two SMCJB with 2.4 thanks per post
    3. looks_3 bassa with 2.2 thanks per post
    4. looks_4 Big Mike with 1.8 thanks per post
    1. trending_up 55,572 views
    2. thumb_up 501 thanks given
    3. group 246 followers
    1. forum 260 posts
    2. attach_file 16 attachments




 
Search this Thread

Oil price negative?

  #21 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,381
Thanks Received: 10,205

Happens in energy. As well as the Natural Gas examples I gave earlier I forgot that Power/Electricity often trades negative at night. It costs so much to stop and start a coal plant that at 2am they are selling power at negative prices as it's cheaper than going offline and having to restart.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Trade idea based off three indicators.
Traders Hideout
ZombieSqueeze
Platforms and Indicators
Better Renko Gaps
The Elite Circle
Pivot Indicator like the old SwingTemp by Big Mike
NinjaTrader
Any futures traders in Texas looking to give back to tho …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Diary of a simple price action trader
20 thanks
Just another trading journal: PA, Wyckoff & Trends
16 thanks
My NQ Trading Journal
15 thanks
Coding money management strategies.
14 thanks
HumbleTraders next chapter
9 thanks
  #22 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,926 since Feb 2012
Thanks Given: 6,193
Thanks Received: 15,576

WTI 19:30 @ 2,45USD

GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #23 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,381
Thanks Received: 10,205


Trades 92c!

Reply With Quote
Thanked by:
  #24 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,926 since Feb 2012
Thanks Given: 6,193
Thanks Received: 15,576

In the following posts I would like to point out to what negative pricing of a commodity will have as impact:
DOMINO effect
on production sites
on storage
on delivery
on clients
on transports
on currencies
on stability

on... you name it!
We are really at a crucial point right now.

GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #25 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
Platform: Sierra, TT
Broker: N/A
Trading: Spread Researcher and crypto degen
Posts: 654 since May 2013
Thanks Given: 545
Thanks Received: 360

It went under 2 bucks WHAT is happening? So how does this affect cash prices end of day? Wow


Sent using the NexusFi mobile app

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #26 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,381
Thanks Received: 10,205

New Low 1c.

@GFIs1 while I do agree with you, should clarify we are talking about CL which is a landlocked crude in Cushing Oklahoma. Barrels North will be even worse (can only wonder what Canadian crude is worth). West Texas prices will also be even lower. But prices on the Gulf Coast @ Waterbourne will not be as bad. This really is a situation specific to 'inland' US.

Reply With Quote
Thanked by:
  #27 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,381
Thanks Received: 10,205


jokertrader View Post
It went under 2 bucks WHAT is happening? So how does this affect cash prices end of day? Wow

Really isn't any cash prices anymore. Cash is CLK0 in 24 hours 20 minutes!

Reply With Quote
Thanked by:
  #28 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,048 since Dec 2013
Thanks Given: 4,381
Thanks Received: 10,205

LOW PRINT -$40.32

Reply With Quote
Thanked by:
  #29 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,926 since Feb 2012
Thanks Given: 6,193
Thanks Received: 15,576


SMCJB View Post
New Low 1c.

@GFIs1 while I do agree with you, should clarify we are talking about CL which is a landlocked crude in Cushing Oklahoma. Barrels North will be even worse (can only wonder what Canadian crude is worth). West Texas prices will also be even lower. But prices on the Gulf Coast @ Waterbourne will not be as bad. This really is a situation specific to 'inland' US.

Absolutely - I have been in that region - in the south of Kansas and know it from there.
In Cushing is CME located.
Just looking for the first pricing with negative numbers.
And from there a domino effect might happen.
Good trades!
Just to let you know I have never traded oil as it is against all my philosophies.
GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #30 (permalink)
 
AllSeeker's Avatar
 AllSeeker 
Mumbai, India
Legendary Pratik_4Clover
 
Experience: Beginner
Platform: TradingView & ZerodhaKite
Trading: NIFTY, BANKNIFTY
Frequency: Daily
Duration: Minutes
Posts: 1,424 since Jan 2019
Thanks Given: 5,249
Thanks Received: 5,011



SMCJB View Post
LOW PRINT -$40.32

I couldn't get it on chart on tradingview (its stuck at 0.01), is it just me or we can't have some chart? I can share this with my grandkids in future

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on January 23, 2021


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts