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GasBuddy News Article

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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...


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Submitted Nov 27, 2012 By: PD
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skidsteer85xt
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Message Posted: Dec 5, 2012 1:51:00 PM

good
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honda0105
Champion Author Tallahassee

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Message Posted: Nov 30, 2012 3:57:13 AM

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

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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
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spiderjay
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Message Posted: Nov 28, 2012 4:32:28 PM

sounds good
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BigOyl
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Message Posted: Nov 28, 2012 2:28:51 PM

Awesome. I was wondering?!
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NorthglennBill
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Message Posted: Nov 28, 2012 12:42:32 PM

Another story that just won't go away.
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nskmda
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Message Posted: Nov 28, 2012 10:42:43 AM

still?
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malfrog1
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Message Posted: Nov 28, 2012 9:43:02 AM

O K
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TXryder
Champion Author Texas

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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.
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Mariuxus
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Message Posted: Nov 28, 2012 9:13:29 AM

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

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Message Posted: Nov 28, 2012 9:11:37 AM

Saw this, but West Texas Light-Sweet is still the world standard.
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bowler300MO
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Message Posted: Nov 28, 2012 9:11:07 AM

old
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myambro
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Message Posted: Nov 28, 2012 9:09:35 AM

Yesterday's news.
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nemoFL
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Message Posted: Nov 28, 2012 9:08:15 AM

ok
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HEBster
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Message Posted: Nov 28, 2012 9:07:27 AM

Hmm...
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dlzastera
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Message Posted: Nov 28, 2012 9:04:53 AM

Some things have to change.
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Toppers
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Message Posted: Nov 28, 2012 9:04:17 AM

Yeah-saw that y'day.
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gonzohb
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Message Posted: Nov 28, 2012 9:03:40 AM

ZZZZZZZZZZZZZZZZ
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ssect8
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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.
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rjwill1
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Message Posted: Nov 28, 2012 9:02:38 AM

yesterdays news
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Kaiyne
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Message Posted: Nov 28, 2012 9:01:15 AM

ok.
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yelobus
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Message Posted: Nov 28, 2012 9:01:01 AM

Old news.
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TRAIN RIDER
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Message Posted: Nov 28, 2012 9:00:31 AM

Read this yesterday.
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F81M
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Message Posted: Nov 28, 2012 9:00:13 AM

Not important.
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treehood
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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.
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Janetique
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Message Posted: Nov 28, 2012 8:59:22 AM

old...
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dirtydiesel10
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Message Posted: Nov 28, 2012 8:57:50 AM

Old news!
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marion1739
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Message Posted: Nov 28, 2012 8:56:16 AM

Time for solar electric powered cars
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henryeOH
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Message Posted: Nov 28, 2012 8:55:12 AM

same as yesterday. lets have fresh stuff
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q2
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Message Posted: Nov 28, 2012 8:53:33 AM

old news
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2granny
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Message Posted: Nov 28, 2012 8:53:23 AM

yesterday's news.
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jd2009
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Message Posted: Nov 28, 2012 8:53:11 AM

Old news
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BeaconLite
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Message Posted: Nov 28, 2012 8:51:00 AM

Deja vue news.
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Diesel_Ram
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Message Posted: Nov 28, 2012 8:49:35 AM

Yesterdays Story
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ntass1
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Message Posted: Nov 28, 2012 8:48:57 AM

Read this Yesterday
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Insuremn
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Message Posted: Nov 28, 2012 8:48:55 AM

Yesterdays news.
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GRUMPY55
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Message Posted: Nov 28, 2012 8:47:37 AM

Read this Yesterday
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lmpski
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Message Posted: Nov 28, 2012 8:43:11 AM

...frack baby, frack!
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peapaw
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Message Posted: Nov 28, 2012 8:42:42 AM

Ok
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unicornpmb
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Message Posted: Nov 28, 2012 8:40:08 AM

YEA.
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FocusGuy
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Message Posted: Nov 28, 2012 8:38:49 AM

so what
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BlueVanGroup
Champion Author Fort Collins

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Message Posted: Nov 28, 2012 8:37:38 AM


Another example of the world turning away from the U.S.
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ciimike
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Message Posted: Nov 28, 2012 8:36:36 AM

Old news.
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paoli8
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Message Posted: Nov 28, 2012 8:36:21 AM

ok
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w4kh
Champion Author Tennessee

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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.
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HATinMUNDY
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Message Posted: Nov 28, 2012 8:35:22 AM

Time will tell.....
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GManCo
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Message Posted: Nov 28, 2012 8:34:22 AM

old news.
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tidalwave3
Champion Author Tallahassee

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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 $ :(
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LostAgain2009
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Message Posted: Nov 28, 2012 8:33:26 AM

Lather, rinse, repeat article
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cssco
Champion Author Virginia

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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.
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arnerator
Champion Author Seattle

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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.
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