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> a couple years ago It was near the beginning of the pandemic, due to the demand shock of everything shutting down. There were probably practical ways to pro
by zahlman 10mo ago
> a couple years ago
It was near the beginning of the pandemic, due to the demand shock of everything shutting down.
There were probably practical ways to profit off the low prices (assuming the risk of them not recovering), but I never did figure out something that would work for a retail investor.
- buckle8017 10mo agoThe only way to profit was too have a large storage tank.
- deleted 10mo ago[deleted]
- nemomarx 10mo agodid it not come with the barrels? I figured you'd just need a warehouse and a truck. (which is a pretty big ask, of course, and maybe free labor to pick it up up and move it into the truck...(
- deleted 10mo ago[deleted]
- meindnoch 10mo agoLol, no. When you buy "barrels" of oil on a commodity market, the barrel is a unit of volume (42 US gallons).
- SAI_Peregrinus 10mo agoBarrels are over $50 each even in bulk. The oil is often less than the barrel, "1 barrel" of oil is a unit of volume equal to 42 US gallons. The price/barrel is the price of bulk oil, not oil literally transported in barrels.