It's here, the massive collapse few experts warned about. Today, was proof that demand is much smaller than mainstream economists thought. Sure, June contracts are $21, but, that can change like it did today.
From here, what can we expect with oil being at $1 a barrel? Simple. Massive closures of oil fields and oil producers going bust. Remember that oil producers barely make it by on $40 a barrel oil, so, at -35 or $1 oil, it's a dead end.
Sell your stock in oil companies, wait to see what transpires from here and go into safe havens for now. I foresee another massive selling coming soon unless the Fed and PPT start buying and manipulating.
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Still going.. Federal intervention at its best, pumping funny money into stocks. Remember what the Feds said, "we will not let oil producers fail" so welcome to Federal Reserve direct intervening
What you are witnessing is literally unprecedented economics. You, were part of at least three major events in world history, within the passed month:
1) Pandemic.
2) Greatest single point crash in stock market, ever.
3) Greatest drop in crude oil price, ever.
These are signs of deflation, depression which will shoot us right into a hyper inflation, and greater depression. This is insane to be a part of something so insane!