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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: CommanderCricket who wrote (117689)	2/12/2009 1:36:09 PM
From: upanddown	4 Recommendations Read Replies (1) of 206181

"The global oil market’s most important pricing benchmark, the West Texas Intermediate crude contract...." Why would he sat that when.... "Brent benchmark The price of North Sea (Brent) crude oil is now the the direct benchmark for over 60% of global crude crude oil pricing, and, through the mechanism of massive "arbitrage" trading between Brent and WTI, it also constitutes an indirect benchmark for most of the other 40%." While WTI is getting jerked around by traders and Cushing storage capacity, the very important OPEC basket price, which uses Brent as a benchmark, has been bottoming in the $40 range since the end of November.

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