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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Salt'n'Peppa who wrote (117716)	2/12/2009 3:23:58 PM
From: CommanderCricket	1 Recommendation Respond to of 206181

This was just posted on the CWEI thread by apakabar WTI under attack as market benchmark BRENT CRUDE FUTR (USD/bbl.) 45.780 0.460 1.02% time: 14:59 WTI CRUDE FUTURE (USD/bbl.) 33.770 -2.170 -6.04% time: 14:40 That's a 35.6% premium of Brent over WTI.

To: Salt'n'Peppa who wrote (117716)	2/12/2009 4:32:47 PM
From: upanddown	3 Recommendations Read Replies (2) \| Respond to of 206181

I wonder when (if) fundamentals will bring WTIC back in line with the rest of the planet. Anyone? Well, we can start here by not obsessing about the WTI price and realize the real world price for crude is in the mid-40s and try to come up with strategies that will enable us to profit from this anomaly. If a VLCC from Ras Tanura pulls into LOOP with 2MMB of Saudi crude today, it isn't getting paid based on a $34 WTI benchmark. It is getting paid based on a $46 Brent benchmark. One reason that retail gas prices have jumped a lot since Christmas may be that while WTI is flat to down, the real world price of crude is up. Alaskan North Slope, which is a much lower grade than WTI and a very important West Coast supply, is also selling well above WTI. upstreamonline.com

To: Salt'n'Peppa who wrote (117716)	2/12/2009 4:55:06 PM
From: couldawoulda	Respond to of 206181

Saudi Arabia and Iran specifically are complaining about this already. The WTI is a casino and is throwing everything completely out of whack. It is also causing cushing to fill up to the brim so to speak. An 8 dollar spread is ridiculous and it's obvious that speculators are taking full advantage of it. I do think starting tomorrow or Monday at the latest that spread becomes more controlled before the contract switch on the 20th.