Those who invest in oil futures markets today saw something that no one living has ever seen before.
Oil just did something that made even market veterans shake their heads in wonder — the soon-to-expire May contract for West Texas Intermediate crude on the New York Mercantile Exchange traded, and closed, in negative territory.from Marketwatch.com
“I’m not sure how to react to that other than say that nobody, whether they’re 120 years old or whether they’re 20 months old, has ever seen an oil price lower than this,” Tom Kloza, a 40-year market veteran and head of global market analysis for Oil Price Information Service, told MarketWatch just minutes before the market closed on Monday.
This could cause major movements over the next few days for our US Government, as well as those of other nations, to try to financially hold up the oil supplies and markets. Here is what Mike Maloney said today.
This term “Oil Armageddon” is not my idea but is what long time market watcher and gold/silver investor Mike Maloney is calling it.
We need to pray that this doesn’t cause the kinds of disorder that many are worried that it will. Our faith is not in Oil, Gold, Silver of the government leaders but… our faith is in God who I don’t think was surprised at all with today’s headlines. Being praying for our President and other leaders to have wisdom and insight needed for the days ahead.
And, May Your Journey Always Lead You Home!