RE:What Will Tomorrow Bring?The oil price you see is about to be a whole lot higher as the futures contract rolls over. Bear in mind that most investors are looking at futures pricing, which reflects what traders are prepared to pay in the future. The negative pricing today was simply a reflection of an expiring contract and certain traders getting caught with the obligation to take physical delivery (if they held onto the contract), but having no place to put the oil. Accordingly, they were prepared to PAY someone else to accept the responsibility. Many of these traders lost MANY millions of dollars today.
bonjovi501 wrote: will oil rebound or will oil stay at record lows. I expect a lot of news tonight or tomorrow morning of oil companies lowering capex again to bare levels. If not these oil companis will be punished. NO MORE SPENDING PERIOD!!