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landownerPermalink Reply by Bobi Carr ("parker") on April 2, 2020 at 9:33

I just looked up WTI.  It says  $20.40 ten minutes ago.  I wonder when it hit $7.  Did it bottom and then go up?

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 2, 2020 at 11:09

.eia.gov/todayinenergy/prices Wholesale Spot Petroleum Prices, 4/01/20 Close
Product	Area	Price	Percent Change*
Crude Oil ($/barrel)	WTI	20.28	-1.1
	Brent	14.85	0.0
	Louisiana Light	15.28	+5.3

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Oil & Gas ProPermalink Reply by G. Rankin Schurman, II on April 3, 2020 at 6:13

spot bids Tuesday and Wednesday in So. TX @ $4.00 and Central OK @ $7.00 FOB at the wellhead/lease.  Crude buyers are looking for whatever ways they can to reject barrels due to lack of market/storage options.  IMO, some real negative price-gouging going on by those with storage options - tough situation especially for the smaller producer with limited market presence/stroke with crude buyers. 

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