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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: CommanderCricket who wrote (49968)8/27/1999 1:02:00 PM
From: JoeDi1213  Read Replies (2) of 95453
 
Nor too make things too complicated. All crude in the this hemisphere is priced against WTI. Most European grades priced against Brent. Middle East grades have an official selling price and prices based against the OSP. All grades are narrowing in price wise to WTI. WTI mostly a paper BBL. I bet less than a million a day produced. The spread narrowing means that people are paying up real money for real product, as opposed to what goes on at the NYMEX. Brent usually trades WTI less transportation and storage costs. The bigger the discount the more it's ARB over here. No discount and the ARB window shut although refiners that need to buy do so wether the arb is open or not. If you need Brent you need Brent.
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