Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:03 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
Profile Pic
skidsteer85xt
Champion Author Indiana

Posts:11,602
Points:873,025
Joined:Oct 2012
Message Posted: Dec 5, 2012 3:51:00 PM

good
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,404
Points:2,299,140
Joined:Nov 2008
Message Posted: Nov 30, 2012 5:57:13 AM

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

Posts:52
Points:350,295
Joined:Aug 2012
Message Posted: Nov 29, 2012 10:48:56 AM

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

Posts:4,803
Points:1,344,785
Joined:Oct 2005
Message Posted: Nov 28, 2012 6:32:28 PM

sounds good
Profile Pic
BigOyl
Champion Author Wichita

Posts:2,875
Points:982,125
Joined:Apr 2012
Message Posted: Nov 28, 2012 4:28:51 PM

Awesome. I was wondering?!
Profile Pic
NorthglennBill
Champion Author Denver

Posts:10,181
Points:2,142,975
Joined:Oct 2008
Message Posted: Nov 28, 2012 2:42:32 PM

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

Posts:1,933
Points:897,570
Joined:May 2007
Message Posted: Nov 28, 2012 12:42:43 PM

still?
Profile Pic
malfrog1
Champion Author South Bend

Posts:5,034
Points:1,225,785
Joined:Feb 2011
Message Posted: Nov 28, 2012 11:43:02 AM

O K
Profile Pic
TXryder
Champion Author Texas

Posts:6,068
Points:1,106,300
Joined:Jan 2012
Message Posted: Nov 28, 2012 11:21:24 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.
Profile Pic
Mariuxus
Champion Author Chicago

Posts:6,007
Points:2,533,995
Joined:May 2007
Message Posted: Nov 28, 2012 11:13:29 AM

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

Posts:31,643
Points:3,507,920
Joined:Aug 2004
Message Posted: Nov 28, 2012 11:11:37 AM

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

Posts:2,102
Points:1,420,375
Joined:Mar 2010
Message Posted: Nov 28, 2012 11:11:07 AM

old
Profile Pic
myambro
Champion Author Sacramento

Posts:4,611
Points:1,658,225
Joined:Mar 2005
Message Posted: Nov 28, 2012 11:09:35 AM

Yesterday's news.
Profile Pic
nemoFL
Champion Author Florida

Posts:10,824
Points:2,081,335
Joined:Oct 2008
Message Posted: Nov 28, 2012 11:08:15 AM

ok
Profile Pic
HEBster
Champion Author Kentucky

Posts:11,556
Points:3,044,890
Joined:May 2006
Message Posted: Nov 28, 2012 11:07:27 AM

Hmm...
Profile Pic
dlzastera
Champion Author Minnesota

Posts:7,268
Points:1,689,670
Joined:Mar 2006
Message Posted: Nov 28, 2012 11:04:53 AM

Some things have to change.
Profile Pic
Toppers
Champion Author Atlanta

Posts:11,832
Points:3,156,650
Joined:Mar 2005
Message Posted: Nov 28, 2012 11:04:17 AM

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

Posts:1,235
Points:1,430,335
Joined:Aug 2008
Message Posted: Nov 28, 2012 11:03:40 AM

ZZZZZZZZZZZZZZZZ
Profile Pic
ssect8
Champion Author Hartford

Posts:10,119
Points:2,495,965
Joined:Jun 2006
Message Posted: Nov 28, 2012 11:03:31 AM

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

Posts:148
Points:1,068,535
Joined:Mar 2011
Message Posted: Nov 28, 2012 11:02:38 AM

yesterdays news
Profile Pic
Kaiyne
Champion Author Chicago

Posts:4,574
Points:1,039,720
Joined:Feb 2011
Message Posted: Nov 28, 2012 11:01:15 AM

ok.
Profile Pic
yelobus
Champion Author Houston

Posts:8,472
Points:2,238,825
Joined:Aug 2006
Message Posted: Nov 28, 2012 11:01:01 AM

Old news.
Profile Pic
TRAIN RIDER
Champion Author San Bernardino

Posts:11,944
Points:3,442,855
Joined:Oct 2004
Message Posted: Nov 28, 2012 11:00:31 AM

Read this yesterday.
Profile Pic
F81M
Champion Author Indiana

Posts:4,376
Points:1,469,955
Joined:Aug 2008
Message Posted: Nov 28, 2012 11:00:13 AM

Not important.
Profile Pic
treehood
Champion Author San Diego

Posts:4,964
Points:1,086,035
Joined:May 2011
Message Posted: Nov 28, 2012 10:59:53 AM

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

Posts:3,581
Points:1,408,495
Joined:Jul 2008
Message Posted: Nov 28, 2012 10:59:22 AM

old...
Profile Pic
dirtydiesel10
Champion Author Colorado Springs

Posts:1,162
Points:232,760
Joined:Dec 2010
Message Posted: Nov 28, 2012 10:57:50 AM

Old news!
Profile Pic
marion1739
Champion Author Missouri

Posts:2,835
Points:902,060
Joined:Jan 2011
Message Posted: Nov 28, 2012 10:56:16 AM

Time for solar electric powered cars
Profile Pic
henryeOH
Champion Author Akron

Posts:3,522
Points:191,765
Joined:Jan 2011
Message Posted: Nov 28, 2012 10:55:12 AM

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

Posts:4,912
Points:1,061,945
Joined:Nov 2008
Message Posted: Nov 28, 2012 10:53:33 AM

old news
Profile Pic
2granny
Champion Author Michigan

Posts:12,495
Points:2,154,875
Joined:Apr 2009
Message Posted: Nov 28, 2012 10:53:23 AM

yesterday's news.
Profile Pic
jd2009
Champion Author Honolulu

Posts:4,269
Points:1,312,680
Joined:Jan 2009
Message Posted: Nov 28, 2012 10:53:11 AM

Old news
Profile Pic
BeaconLite
Champion Author Ottawa

Posts:5,381
Points:1,008,725
Joined:Sep 2009
Message Posted: Nov 28, 2012 10:51:00 AM

Deja vue news.
Profile Pic
Diesel_Ram
Champion Author Dallas

Posts:9,242
Points:2,202,970
Joined:Jan 2009
Message Posted: Nov 28, 2012 10:49:35 AM

Yesterdays Story
Profile Pic
ntass1
Champion Author Edmonton

Posts:6,684
Points:1,417,380
Joined:May 2011
Message Posted: Nov 28, 2012 10:48:57 AM

Read this Yesterday
Profile Pic
Insuremn
Champion Author Twin Cities

Posts:7,831
Points:1,714,870
Joined:May 2010
Message Posted: Nov 28, 2012 10:48:55 AM

Yesterdays news.
Profile Pic
GRUMPY55
Champion Author California

Posts:3,149
Points:999,050
Joined:Oct 2011
Message Posted: Nov 28, 2012 10:47:37 AM

Read this Yesterday
Profile Pic
lmpski
Veteran Author Boston

Posts:438
Points:1,024,395
Joined:May 2011
Message Posted: Nov 28, 2012 10:43:11 AM

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

Posts:6,983
Points:1,369,695
Joined:Jun 2011
Message Posted: Nov 28, 2012 10:42:42 AM

Ok
Profile Pic
unicornpmb
Champion Author Buffalo

Posts:11,379
Points:2,318,870
Joined:Sep 2005
Message Posted: Nov 28, 2012 10:40:08 AM

YEA.
Profile Pic
FocusGuy
Champion Author Seattle

Posts:9,870
Points:2,083,625
Joined:Apr 2009
Message Posted: Nov 28, 2012 10:38:49 AM

so what
Profile Pic
BlueVanGroup
Champion Author Fort Collins

Posts:10,521
Points:2,204,055
Joined:May 2008
Message Posted: Nov 28, 2012 10:37:38 AM


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

Posts:4,736
Points:1,185,355
Joined:Aug 2005
Message Posted: Nov 28, 2012 10:36:36 AM

Old news.
Profile Pic
paoli8
Champion Author Philadelphia

Posts:9,286
Points:2,453,960
Joined:Jul 2007
Message Posted: Nov 28, 2012 10:36:21 AM

ok
Profile Pic
w4kh
Champion Author Tennessee

Posts:14,553
Points:2,916,815
Joined:May 2004
Message Posted: Nov 28, 2012 10:35:24 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.
Profile Pic
HATinMUNDY
Champion Author Michigan

Posts:4,548
Points:1,447,345
Joined:Mar 2008
Message Posted: Nov 28, 2012 10:35:22 AM

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

Posts:7,785
Points:1,627,700
Joined:Sep 2010
Message Posted: Nov 28, 2012 10:34:22 AM

old news.
Profile Pic
tidalwave3
Champion Author Tallahassee

Posts:2,613
Points:2,103,755
Joined:Jun 2008
Message Posted: Nov 28, 2012 10:34:06 AM

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

Posts:3,810
Points:1,121,415
Joined:Apr 2009
Message Posted: Nov 28, 2012 10:33:26 AM

Lather, rinse, repeat article
Profile Pic
cssco
Champion Author Virginia

Posts:10,085
Points:2,421,450
Joined:Feb 2006
Message Posted: Nov 28, 2012 10:33:12 AM

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

Posts:11,024
Points:2,293,620
Joined:Sep 2008
Message Posted: Nov 28, 2012 10:30:23 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