Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:34 AM

GasBuddy News Article

41
votes
Brent crude poised to surpass WTI as most-traded commodity

GasBuddy Blog -- Bloomberg News is reporting that for the first year since the commodity futures were created, Brent crude is poised to overtake West Texas Intermediate oil as the world’s most-traded commodity.

Daily trading in Brent jumped 14 percent to average 567,000 contracts in the year to Nov. 20 compared with all of 2011, while WTI fell 17 percent to 575,000, according to data from the ICE Futures Europe exchange in London and New York Mercantile Exchange compiled by Bloomberg. The number of Brent futures changing hands has exceeded those for WTI every month from April through October, the longest streak since at least 1995.

And yet, U.S. media focuses primarily on WTI crude.

Brent, produced in the North Sea, is gaining...


Read the Full Article

Submitted Nov 27, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Brent crude poised to surpass WTI as most-traded commodity Back to Topics
REPLIES (newest first) Post a Reply
skidsteer85xt
Champion Author Indiana

Posts:12,498
Points:963,375
Joined:Oct 2012
Message Posted: Dec 5, 2012 1:51:00 PM

good
honda0105
Champion Author Tallahassee

Posts:24,057
Points:2,389,665
Joined:Nov 2008
Message Posted: Nov 30, 2012 3:57:13 AM

danmc: Brent (North Sea) oil has long been the measure of European oil pricing.
danmckdude
Rookie Author Detroit

Posts:52
Points:351,095
Joined:Aug 2012
Message Posted: Nov 29, 2012 8:48:56 AM

I never heard of Brent crude until I read this article, I need to do some more research
spiderjay
Champion Author Little Rock

Posts:4,843
Points:1,376,990
Joined:Oct 2005
Message Posted: Nov 28, 2012 4:32:28 PM

sounds good
BigOyl
Champion Author Wichita

Posts:3,154
Points:1,066,925
Joined:Apr 2012
Message Posted: Nov 28, 2012 2:28:51 PM

Awesome. I was wondering?!
NorthglennBill
Champion Author Denver

Posts:10,546
Points:2,233,500
Joined:Oct 2008
Message Posted: Nov 28, 2012 12:42:32 PM

Another story that just won't go away.
nskmda
Champion Author Grand Rapids

Posts:1,933
Points:897,570
Joined:May 2007
Message Posted: Nov 28, 2012 10:42:43 AM

still?
malfrog1
Champion Author South Bend

Posts:5,395
Points:1,314,985
Joined:Feb 2011
Message Posted: Nov 28, 2012 9:43:02 AM

O K
TXryder
Champion Author Texas

Posts:6,203
Points:1,139,150
Joined:Jan 2012
Message Posted: Nov 28, 2012 9:21:24 AM

And the corruption monster grows ever stronger.
If you do not already know, google about ICE how it got started after the evil 'Enron loophole' was underhandedly pushed into law back in yr 2000. The law allowed Big Oil to form ICE outside of US regulation and jurisdiction so that they can manipulate crude commodities to the extreme.
Mariuxus
Champion Author Chicago

Posts:6,167
Points:2,614,195
Joined:May 2007
Message Posted: Nov 28, 2012 9:13:29 AM

ok...old
AC-302
Champion Author Los Angeles

Posts:32,179
Points:3,583,920
Joined:Aug 2004
Message Posted: Nov 28, 2012 9:11:37 AM

Saw this, but West Texas Light-Sweet is still the world standard.
bowler300MO
Champion Author Missouri

Posts:2,107
Points:1,493,700
Joined:Mar 2010
Message Posted: Nov 28, 2012 9:11:07 AM

old
myambro
Champion Author Sacramento

Posts:4,775
Points:1,735,645
Joined:Mar 2005
Message Posted: Nov 28, 2012 9:09:35 AM

Yesterday's news.
nemoFL
Champion Author Florida

Posts:10,824
Points:2,081,335
Joined:Oct 2008
Message Posted: Nov 28, 2012 9:08:15 AM

ok
HEBster
Champion Author Kentucky

Posts:11,901
Points:3,133,440
Joined:May 2006
Message Posted: Nov 28, 2012 9:07:27 AM

Hmm...
dlzastera
Champion Author Minnesota

Posts:7,623
Points:1,779,745
Joined:Mar 2006
Message Posted: Nov 28, 2012 9:04:53 AM

Some things have to change.
Toppers
Champion Author Atlanta

Posts:12,187
Points:3,245,725
Joined:Mar 2005
Message Posted: Nov 28, 2012 9:04:17 AM

Yeah-saw that y'day.
gonzohb
Champion Author Los Angeles

Posts:1,252
Points:1,499,775
Joined:Aug 2008
Message Posted: Nov 28, 2012 9:03:40 AM

ZZZZZZZZZZZZZZZZ
ssect8
Champion Author Hartford

Posts:10,119
Points:2,495,965
Joined:Jun 2006
Message Posted: Nov 28, 2012 9:03:31 AM

This is the reason why prices are set by greed and speculation and not supply and demand.
rjwill1
Sophomore Author New Jersey

Posts:148
Points:1,143,260
Joined:Mar 2011
Message Posted: Nov 28, 2012 9:02:38 AM

yesterdays news
Kaiyne
Champion Author Chicago

Posts:4,574
Points:1,076,720
Joined:Feb 2011
Message Posted: Nov 28, 2012 9:01:15 AM

ok.
yelobus
Champion Author Houston

Posts:8,838
Points:2,329,125
Joined:Aug 2006
Message Posted: Nov 28, 2012 9:01:01 AM

Old news.
TRAIN RIDER
Champion Author San Bernardino

Posts:12,310
Points:3,533,380
Joined:Oct 2004
Message Posted: Nov 28, 2012 9:00:31 AM

Read this yesterday.
F81M
Champion Author Indiana

Posts:4,740
Points:1,558,455
Joined:Aug 2008
Message Posted: Nov 28, 2012 9:00:13 AM

Not important.
treehood
Champion Author San Diego

Posts:5,330
Points:1,176,560
Joined:May 2011
Message Posted: Nov 28, 2012 8:59:53 AM

This is kind of a "so what" story. Slightly interesting but very little affect on our lives.
Janetique
Champion Author Virginia Beach

Posts:3,935
Points:1,497,650
Joined:Jul 2008
Message Posted: Nov 28, 2012 8:59:22 AM

old...
dirtydiesel10
Champion Author Colorado Springs

Posts:1,162
Points:232,760
Joined:Dec 2010
Message Posted: Nov 28, 2012 8:57:50 AM

Old news!
marion1739
Champion Author Missouri

Posts:2,880
Points:985,060
Joined:Jan 2011
Message Posted: Nov 28, 2012 8:56:16 AM

Time for solar electric powered cars
henryeOH
Champion Author Akron

Posts:3,819
Points:210,080
Joined:Jan 2011
Message Posted: Nov 28, 2012 8:55:12 AM

same as yesterday. lets have fresh stuff
q2
Champion Author Alberta

Posts:5,274
Points:1,151,245
Joined:Nov 2008
Message Posted: Nov 28, 2012 8:53:33 AM

old news
2granny
Champion Author Michigan

Posts:12,865
Points:2,245,400
Joined:Apr 2009
Message Posted: Nov 28, 2012 8:53:23 AM

yesterday's news.
jd2009
Champion Author Honolulu

Posts:4,269
Points:1,312,680
Joined:Jan 2009
Message Posted: Nov 28, 2012 8:53:11 AM

Old news
BeaconLite
Champion Author Ottawa

Posts:5,892
Points:1,096,660
Joined:Sep 2009
Message Posted: Nov 28, 2012 8:51:00 AM

Deja vue news.
Diesel_Ram
Champion Author Dallas

Posts:9,606
Points:2,292,475
Joined:Jan 2009
Message Posted: Nov 28, 2012 8:49:35 AM

Yesterdays Story
ntass1
Champion Author Edmonton

Posts:7,045
Points:1,506,580
Joined:May 2011
Message Posted: Nov 28, 2012 8:48:57 AM

Read this Yesterday
Insuremn
Champion Author Twin Cities

Posts:8,197
Points:1,803,795
Joined:May 2010
Message Posted: Nov 28, 2012 8:48:55 AM

Yesterdays news.
GRUMPY55
Champion Author California

Posts:3,149
Points:1,072,150
Joined:Oct 2011
Message Posted: Nov 28, 2012 8:47:37 AM

Read this Yesterday
lmpski
Veteran Author Boston

Posts:439
Points:1,106,465
Joined:May 2011
Message Posted: Nov 28, 2012 8:43:11 AM

...frack baby, frack!
peapaw
Champion Author Ohio

Posts:7,304
Points:1,449,195
Joined:Jun 2011
Message Posted: Nov 28, 2012 8:42:42 AM

Ok
unicornpmb
Champion Author Buffalo

Posts:11,749
Points:2,410,620
Joined:Sep 2005
Message Posted: Nov 28, 2012 8:40:08 AM

YEA.
FocusGuy
Champion Author Seattle

Posts:10,236
Points:2,174,150
Joined:Apr 2009
Message Posted: Nov 28, 2012 8:38:49 AM

so what
BlueVanGroup
Champion Author Fort Collins

Posts:10,917
Points:2,293,660
Joined:May 2008
Message Posted: Nov 28, 2012 8:37:38 AM


Another example of the world turning away from the U.S.
ciimike
Champion Author Nevada

Posts:4,763
Points:1,192,925
Joined:Aug 2005
Message Posted: Nov 28, 2012 8:36:36 AM

Old news.
paoli8
Champion Author Philadelphia

Posts:9,452
Points:2,528,105
Joined:Jul 2007
Message Posted: Nov 28, 2012 8:36:21 AM

ok
w4kh
Champion Author Tennessee

Posts:14,918
Points:3,007,340
Joined:May 2004
Message Posted: Nov 28, 2012 8:35:24 AM

Crude oil is a globally traded commodity. Brent is more widely available globally and WTI is tanked up in Cushing, Oklahoma. Naturally, Brent will be the global standard.
HATinMUNDY
Champion Author Michigan

Posts:4,913
Points:1,537,870
Joined:Mar 2008
Message Posted: Nov 28, 2012 8:35:22 AM

Time will tell.....
GManCo
Champion Author Colorado Springs

Posts:8,141
Points:1,716,755
Joined:Sep 2010
Message Posted: Nov 28, 2012 8:34:22 AM

old news.
tidalwave3
Champion Author Tallahassee

Posts:2,776
Points:2,187,315
Joined:Jun 2008
Message Posted: Nov 28, 2012 8:34:06 AM

I see it as switch from US influence to European/World influence. Like oil no longer being traded in US $ :(
LostAgain2009
Champion Author New Mexico

Posts:4,085
Points:1,194,775
Joined:Apr 2009
Message Posted: Nov 28, 2012 8:33:26 AM

Lather, rinse, repeat article
cssco
Champion Author Virginia

Posts:10,439
Points:2,509,740
Joined:Feb 2006
Message Posted: Nov 28, 2012 8:33:12 AM

The U.S. media focuses on WTI crude because it is easier to write than Brent crude, by two whole letters.
arnerator
Champion Author Seattle

Posts:11,389
Points:2,383,925
Joined:Sep 2008
Message Posted: Nov 28, 2012 8:30:23 AM

This is more of yesterday's news. Just changing the index shouldn't affect prices, but it probably will, anyhow.
Post a reply Back to Topics