Oil

stufflol · 16 Jan 2016 at 22:28

Oil is $29 per barrel at the moment, how would I go about buying stocks to keep for a year or 2 until the prices rise again?

I dont actually want to have the oil just own the stocks etc if that is possible and safe.

Finners · 16 Jan 2016 at 22:30

Dont think you can get stocks in "oil" wil have to be one of the companies that drill for it.

Destination · 16 Jan 2016 at 22:34

Iran is about to start flooding the market also, it's going nowhere for 2 years, build big sheds, then buy your barrels

Nuke the Sauds... profit!

itchy · 16 Jan 2016 at 22:37

He can buy futures in oil with a delivery date or hold stocks, but this comes with a fee for holding.

Example you buy
1,000 barrels at £20 for delivery in 2020 and then sell them before delivery date. Hoping to make a profit.

Am cold on this stuff but yes you can make a killing if you got the dough.

stufflol · 16 Jan 2016 at 22:39

Apparently a conflict between Iran and Saudi Arabia might cause a massive spike in oil value was thinking it might be worth throwing $100 or so since some have predicted the spike would push to $250+ per barrel. Its a long shot but meh couldnt see myself losing much.

Finners · 16 Jan 2016 at 22:41

As been said I think it will drop a little more from now as IRAN will flood the market but something will happen sooner or later to restrict supply and up it should go!

dowie · 16 Jan 2016 at 22:44

Not sure you mean stocks? As in oil related sticks like BP, Shell etc... open an account at an online broker nd but them...

To bet on oil itself you could try oil futures or an ETF.

bayo000 · 16 Jan 2016 at 22:46

Nobody will sell you crude oil worth $100 at $29 per barrel. You'd probably struggle to by $10k worth of crude oil.

muon · 16 Jan 2016 at 22:46

As mentioned futures is what you want.

Finners said:
As been said I think it will drop a little more from now as IRAN will flood the market but something will happen sooner or later to restrict supply and up it should go!

It has already dropped because everyone thinks Iran will add to the supply glut.

As for something happening to restrict supply, I would personally use that crystal ball to see what next week's lottery numbers will be.

dowie · 17 Jan 2016 at 01:15

bayo000 said:
Nobody will sell you crude oil worth $100 at $29 per barrel. You'd probably struggle to by $10k worth of crude oil.

what are you talking about??? - crude oil isn't worth anything close to $100 a barrel... currently if you want to buy or invest in it then the price is rather close to $29 a barrel

bitslice · 17 Jan 2016 at 01:52

Why is it measured in barrels? They haven't transported oil in barrels for decades.