Crude Oil

[Oliver88]

Good 👍
We should worry about keeping our own house in order here in Canada . The whole Trump derangement syndrome getting old lol .

TSX has been pounded bad since the oil free fall due to Saudi/Russia spat and now the China Virus.
CDN $ has lost close to a dime in last month. Very interesting how reliant our $ is on the energy sector and ironic that lefties HATE the energy industry.

[farming101]

Rack price today at Saskatoon is .513/l for diesel and .371 for gasoline. We have hit rock bottom on gas or very near to it

Mar 20 rack price .497 diesel, .32 gasoline

[bucket]

Mar 20 rack price .497 diesel, .32 gasoline

Would you call that good margins with 90 cent gas and 80 cent farm diesel?

[Oliver88]

Would you call that good margins with 90 cent gas and 80 cent farm diesel?

Bucket, can’t you get 65-70 cent (+GST) or lower diesel delivered now?

I agree with your point about refinery making good margins.

[errolanderson]

Alberta bitumen prices may go to zero (0), even negative is possible . . . .

With no sign of the global oil price war subsiding, supertanker rates have exploded as floating ocean storage with no port to head to. Apparently, 10 million barrel surplus daily is flooding into global markets. Super tanker storage capacity is said to be 1.8 billion barrels with about 800 tankers in-operation.

Texas and Suffield natural gas spot prices went negative over the past five 5) years, in other words, the market pays you to haul it away. This situation may force Western Cdn Select (WCS) into a similar situation without any abatement in the Russia/ Saudi war.

[errolanderson]

Western Cdn Select now $4.56 per barrel . . . We are heading for negative . . . .

[Sodbuster]

If our government’s were smart they should be putting money into more refineries and pipelines so we could be at least self sufficient. Would create jobs and use some of that $4.50 oil up so oil companies could survive.

[canolacrazy]

oil getting shut-in at record clip.
fearless prediction by year-end...

wti oil-$75/bbl
durum-$11/bus
canola-$13/bus
hrsw-$10/bus
red lentils-35c/lb.

[TASFarms]

I don’t think oil will recover that fast.

[hobbyfrmr]

Never in my lifetime did I think that canadian crude oil would be as worthless as wheat.