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Rumor Mill News Reading Room, Current Archive

Global Oil Market Now DESTROYED; Only Solution is Middle East War

Posted By: GeorgeEaton
Date: Tuesday, 21-Apr-2020 12:16:37
www.rumormill.news/145124

(comment: I don't understand the dynamics of the oil business or the reasoning behind the conclusion of this article. So please take it with a grain of salt. I have a wait and see attitude regarding the collapse of the price of oil, which is only for the May contracts for oil purchases. But since I don't know how far reaching this situation is, I also can't rule out secondary and much larger consequences, including war. In my opinion I would think that all that would happen is a temporary shutdown of the pumping of oil until the current oil glut is reduced. The investors in those markets that speculate on any commodities, would suffer and absorb the investment losses. But I can't see how a war would arise out of that temporary investment failure. GE)
20 APRIL 2020
By Hal Turner Radio Show
The market price of oil not only collapsed to ZERO DOLLARS ($0.00) per barrel, it has actually gone negative! Thus, the global oil trade market is destroyed. My Intelligence sources confirm there's only ONE way out of this: major war in the Middle East, commencing with the complete closure of the Strait of Hormuz.

The Strait of Hormuz is the world's most important oil choke-point because of the large volumes of oil that flow through the strait.

In 2018, its daily oil flow averaged 21 million barrels per day (bpd), or the equivalent of about 21% of global petroleum liquids consumption.

As of this writing at 5:40 PM eastern US time, if a producer of oil from out of the ground wants anyone to take it, the producer must PAY $44 a barrel for someone to take it! Yes, you read that correctly; not only give away the oil, they have to PAY to give it away!

This has happened because global demand for oil and gasoline has plunged to almost nothing, and ALL (literally ALL) the storage capacity of the entire planet, is full. There's nowhere to PUT the oil if it comes out of the ground.

This situation has never taken place before in recorded history.

I am told by several sources to look for a sudden, dramatic, and massive, start to an incredibly huge war, this week. Yes, THIS WEEK.

Readers are urged in the strongest terms possible to top-off food, medicine, fuel, gun and ammunition supplies. Don't wait.

Source:
https://halturnerradioshow.com/index.php/en/news-page/world/global-oil-market-now-destroyed-only-solution-is-middle-east-war



RMN is an RA production.

Articles In This Thread

Global Oil Market Now DESTROYED; Only Solution is Middle East War
GeorgeEaton -- Tuesday, 21-Apr-2020 12:16:37
Comment - President Trump Needs 24 Hr Protection Intensified
Lion -- Tuesday, 21-Apr-2020 10:55:14
Jim Stone: PRICE MANIPULATION? Other oil-producing countries are not seeing their commodity being hammered below zero like the U.S.
NaturalWisdom -- Tuesday, 21-Apr-2020 12:16:37

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AN EXPLANATION OF THE FACTIONS