Oil plunges below zero for first time with May contract ending

Re:Oil plunges below zero for first time with May contract e... by beerandt on Monday April 20, 2020 @03:50PM (#22927733)

One of the popular indicators is number of listings and prices for F-250 class and bigger trucks, especially in places like West Texas and North Dakota.

Of course the automotive market in general is "non-typical" at the moment, so there are probably multiple interpretations to be made of whatever the market status is.

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Re:Oil plunges below zero for first time with May contract e... by blaser-waffle on Monday April 20, 2020 @05:02PM (#22928518)

Though I'm from the US I currently live in Alberta, Canada, and can confirm.

I recall seeing CBC news articles about all of the cars and trucks left abandoned in the parking lots of the Edmonton and Calgary airports. All of the out-of-province workers just split once the pickings became poor. Cheap Tacoma trucks for a year or two, I regret not picking one up off of Kijiji (aka Canadian Craigslist) while I had the chance...

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Re:Oil plunges below zero for first time with May contract e... by hermitdev on Monday April 20, 2020 @06:50PM (#22929708)

The best time to pick up a used truck/boat was to pay attention to the local plants where workers were going on strike (not even counting layoffs in times like these). I saw this extensively in the Pacific Northwest (Eastern Washington, Northern Idaho, Western Montana). Any time any of the big plants or mines striked was a good time to be buying used.

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