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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (132220)	3/16/2017 10:17:42 PM
From: Elroy Jetson	Respond to of 218003

I can tell you from experience that 'paper oil' prices don't affect the price of actual oil being purchased by refineries. There's an online system for a lot of those transactions which has nothing to do with 'paper oil', with many trades still handled by a phone call. The buyer and seller don't report their transaction price to any other market participant. The varying large gap between the price of those transactions and what the 'paper oil' market calls the "spot price" is embarrassing. I'm sure the 'paper oil' traders would like to have access to the real price of oil, but they don't except as posted daily at different terminals.