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crude oil which type is valued?

  • 01-04-2011 10:21pm
    #1
    neris
    Registered Users, Registered Users 2 Posts: 20,084 ✭✭✭✭


    When the media and markets talk about the price oil hit X amount of dollars what type of crude are they talking bout? Theres a bit of a difference between brent crude and west texas crude.


Comments

  • #2
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    The easy answer is; whatever price suits their story line.

    Brent is up near $120 whereas West Texas Intermediate/ Light Sweet Crude is near $110. The media do not know the difference between the two.

    Check out theoildrum if you really want to know. Also, check out the Brent-WTI spread. There has been lots written online about this recently. FTAlphaville is a good place to check out.


  • #3
    neris
    Registered Users, Registered Users 2 Posts: 20,084 ✭✭✭✭neris


    cheers will have a look. have a spread bet on texas crude which is at about 107 now but some of the u.s analysts are talking of oil going to 120 but 107 up to 120 is a big price hike so im either i could either be on the wrong type or the gravy train if i stay in long enough :rolleyes:


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