Oil. The Black Plague

Oil – The Black Plague.

By Chris C. May 2020

On April 20th 2020 the price of oil in the futures market went negative $35.00 per barrel. What does this mean for the price of fuel? Nothing!! That’s if you live in New Zealand. Elsewhere around the globe prices have dropped. So why has the price all of a sudden gone negative? It has to do with the storage of oil. Because of the Covid 19 scare there has been a lack of demand for what once was black Gold 

Everyone who consumes oil and it’s by products are safe and sound in their homes with their vehicles left idle. This has flooded the market with an over-supply and has burdened the storage facilities that hold bulk oil whether it’s at the refinery side or the distribution side of the market. I am not an expert on futures markets but I will hopefully give “you” the reader a sound condensed explanation on market theory here.  

There is a disconnect between futures prices verses actual commodity spot prices. On one hand The Futures (virtual) price is based on an entity (market trader) taking out a contract at a particular price in the future for a commodity. 



About Tony Koretz

A dedicated musician and audio engineer with a passion for all things related to sound and music, with a desire to see these things used for the Kingdom Of God. I have given years to this pursuit and to improving my skills in these areas. Having worked as a tech in the audio side of television, music, voice over, sound effects, sound for video, and all manner of other audio recording, mixing and mastering projects; I began to apply my knowledge of these to the creating of the A Minute To Midnite show in 2015. All the music used in every AMTM Show has been written, played and recorded by me. I love being able to combine my gifts as a composer, musician and sound engineer, with the desire to spread the gospel of Jesus Christ, along with a message of warning people to prepare for the End Time Events that are unfolding before us. The A Minute To Midnite show and running the website has pretty much become my full time occupation now. You can find my royalty-free instrumental music and sound effects packs at www.rocksuresoundz.com and my music with vocals at www.koretzmusic.com
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