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GasBuddy News Article

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Brent crude poised to surpass WTI as most-traded commodity

GasBuddy Blog -- Bloomberg News is reporting that for the first year since the commodity futures were created, Brent crude is poised to overtake West Texas Intermediate oil as the world’s most-traded commodity.

Daily trading in Brent jumped 14 percent to average 567,000 contracts in the year to Nov. 20 compared with all of 2011, while WTI fell 17 percent to 575,000, according to data from the ICE Futures Europe exchange in London and New York Mercantile Exchange compiled by Bloomberg. The number of Brent futures changing hands has exceeded those for WTI every month from April through October, the longest streak since at least 1995.

And yet, U.S. media focuses primarily on WTI crude.

Brent, produced in the North Sea, is gaining...


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Submitted Nov 27, 2012 By: PD
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REPLIES (newest first) Post a Reply
skidsteer85xt
Champion Author Indiana

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Message Posted: Dec 5, 2012 3:51:00 PM

good
honda0105
Champion Author Tallahassee

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Message Posted: Nov 30, 2012 5:57:13 AM

danmc: Brent (North Sea) oil has long been the measure of European oil pricing.
danmckdude
Rookie Author Detroit

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Message Posted: Nov 29, 2012 10:48:56 AM

I never heard of Brent crude until I read this article, I need to do some more research
spiderjay
Champion Author Little Rock

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Message Posted: Nov 28, 2012 6:32:28 PM

sounds good
BigOyl
Champion Author Wichita

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Message Posted: Nov 28, 2012 4:28:51 PM

Awesome. I was wondering?!
NorthglennBill
Champion Author Denver

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Message Posted: Nov 28, 2012 2:42:32 PM

Another story that just won't go away.
nskmda
Champion Author Grand Rapids

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Message Posted: Nov 28, 2012 12:42:43 PM

still?
malfrog1
Champion Author South Bend

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Message Posted: Nov 28, 2012 11:43:02 AM

O K
TXryder
Champion Author Texas

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Message Posted: Nov 28, 2012 11:21:24 AM

And the corruption monster grows ever stronger.
If you do not already know, google about ICE how it got started after the evil 'Enron loophole' was underhandedly pushed into law back in yr 2000. The law allowed Big Oil to form ICE outside of US regulation and jurisdiction so that they can manipulate crude commodities to the extreme.
Mariuxus
Champion Author Chicago

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Message Posted: Nov 28, 2012 11:13:29 AM

ok...old
AC-302
Champion Author Los Angeles

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Message Posted: Nov 28, 2012 11:11:37 AM

Saw this, but West Texas Light-Sweet is still the world standard.
bowler300MO
Champion Author Missouri

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Message Posted: Nov 28, 2012 11:11:07 AM

old
myambro
Champion Author Sacramento

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Message Posted: Nov 28, 2012 11:09:35 AM

Yesterday's news.
nemoFL
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Message Posted: Nov 28, 2012 11:08:15 AM

ok
HEBster
Champion Author Kentucky

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Message Posted: Nov 28, 2012 11:07:27 AM

Hmm...
dlzastera
Champion Author Minnesota

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Message Posted: Nov 28, 2012 11:04:53 AM

Some things have to change.
Toppers
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Message Posted: Nov 28, 2012 11:04:17 AM

Yeah-saw that y'day.
gonzohb
Champion Author Los Angeles

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Message Posted: Nov 28, 2012 11:03:40 AM

ZZZZZZZZZZZZZZZZ
ssect8
Champion Author Hartford

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Message Posted: Nov 28, 2012 11:03:31 AM

This is the reason why prices are set by greed and speculation and not supply and demand.
rjwill1
Sophomore Author New Jersey

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Message Posted: Nov 28, 2012 11:02:38 AM

yesterdays news
Kaiyne
Champion Author Chicago

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Message Posted: Nov 28, 2012 11:01:15 AM

ok.
yelobus
Champion Author Houston

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Message Posted: Nov 28, 2012 11:01:01 AM

Old news.
TRAIN RIDER
Champion Author San Bernardino

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Message Posted: Nov 28, 2012 11:00:31 AM

Read this yesterday.
F81M
Champion Author Indiana

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Message Posted: Nov 28, 2012 11:00:13 AM

Not important.
treehood
Champion Author San Diego

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Message Posted: Nov 28, 2012 10:59:53 AM

This is kind of a "so what" story. Slightly interesting but very little affect on our lives.
Janetique
Champion Author Virginia Beach

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Message Posted: Nov 28, 2012 10:59:22 AM

old...
dirtydiesel10
Champion Author Colorado Springs

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Message Posted: Nov 28, 2012 10:57:50 AM

Old news!
marion1739
Champion Author Missouri

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Message Posted: Nov 28, 2012 10:56:16 AM

Time for solar electric powered cars
henryeOH
Champion Author Akron

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Message Posted: Nov 28, 2012 10:55:12 AM

same as yesterday. lets have fresh stuff
q2
Champion Author Alberta

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Message Posted: Nov 28, 2012 10:53:33 AM

old news
2granny
Champion Author Michigan

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Message Posted: Nov 28, 2012 10:53:23 AM

yesterday's news.
jd2009
Champion Author Honolulu

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Message Posted: Nov 28, 2012 10:53:11 AM

Old news
BeaconLite
Champion Author Ottawa

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Message Posted: Nov 28, 2012 10:51:00 AM

Deja vue news.
Diesel_Ram
Champion Author Dallas

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Message Posted: Nov 28, 2012 10:49:35 AM

Yesterdays Story
ntass1
Champion Author Edmonton

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Message Posted: Nov 28, 2012 10:48:57 AM

Read this Yesterday
Insuremn
Champion Author Twin Cities

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Message Posted: Nov 28, 2012 10:48:55 AM

Yesterdays news.
GRUMPY55
Champion Author California

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Message Posted: Nov 28, 2012 10:47:37 AM

Read this Yesterday
lmpski
Veteran Author Boston

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Message Posted: Nov 28, 2012 10:43:11 AM

...frack baby, frack!
peapaw
Champion Author Ohio

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Message Posted: Nov 28, 2012 10:42:42 AM

Ok
unicornpmb
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Message Posted: Nov 28, 2012 10:40:08 AM

YEA.
FocusGuy
Champion Author Seattle

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Message Posted: Nov 28, 2012 10:38:49 AM

so what
BlueVanGroup
Champion Author Fort Collins

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Message Posted: Nov 28, 2012 10:37:38 AM


Another example of the world turning away from the U.S.
ciimike
Champion Author Nevada

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Message Posted: Nov 28, 2012 10:36:36 AM

Old news.
paoli8
Champion Author Philadelphia

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Message Posted: Nov 28, 2012 10:36:21 AM

ok
w4kh
Champion Author Tennessee

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Message Posted: Nov 28, 2012 10:35:24 AM

Crude oil is a globally traded commodity. Brent is more widely available globally and WTI is tanked up in Cushing, Oklahoma. Naturally, Brent will be the global standard.
HATinMUNDY
Champion Author Michigan

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Message Posted: Nov 28, 2012 10:35:22 AM

Time will tell.....
GManCo
Champion Author Colorado Springs

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Message Posted: Nov 28, 2012 10:34:22 AM

old news.
tidalwave3
Champion Author Tallahassee

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Message Posted: Nov 28, 2012 10:34:06 AM

I see it as switch from US influence to European/World influence. Like oil no longer being traded in US $ :(
LostAgain2009
Champion Author New Mexico

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Message Posted: Nov 28, 2012 10:33:26 AM

Lather, rinse, repeat article
cssco
Champion Author Virginia

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Message Posted: Nov 28, 2012 10:33:12 AM

The U.S. media focuses on WTI crude because it is easier to write than Brent crude, by two whole letters.
arnerator
Champion Author Seattle

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Message Posted: Nov 28, 2012 10:30:23 AM

This is more of yesterday's news. Just changing the index shouldn't affect prices, but it probably will, anyhow.
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