Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:16 AM

GasBuddy News Article

55
votes
The Brent Oil Contract is a Sham

EconMatters -- Oil Benchmark

It is a sad state of affairs that the entire world of energy, and consumer energy prices are all based upon a fraud of an energy contract masquerading as the Industry`s Benchmark, setting the price for all other grades.

Monthly Rollover Ramp

Here is an idea of how manipulated the Brent Oil contract that trades mainly on the ICE exchange is we are at rollover time once again in the Brent oil contract and sure enough as day, the contract is moved up substantially right before expiration.

This happens almost every rollover, and is impossible to do in a non-deliverable market without precise market manipulation.

Always Positive Rollover Carry

The other common feature of the Brent contract is the expiring month is always higher by a dollar, dollar and a half,...


Read the Full Article

Submitted Feb 18, 2013 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: The Brent Oil Contract is a Sham Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
jethro5000
Champion Author Kentucky

Posts:3,544
Points:721,485
Joined:Jun 2005
Message Posted: Feb 19, 2013 7:10:01 AM

Old news...
Profile Pic
GasCzarCO
Champion Author Colorado Springs

Posts:1,754
Points:1,080,270
Joined:Mar 2010
Message Posted: Feb 19, 2013 1:54:32 AM

We all complain but we keep on taking our dollars to market.
Profile Pic
MrLefty0706
Champion Author Chicago

Posts:3,056
Points:681,320
Joined:Apr 2012
Message Posted: Feb 19, 2013 1:49:15 AM

The worst part is we were given false hope regarding gas prices in 2013.
Profile Pic
PissedATthePump
All-Star Author Pennsylvania

Posts:515
Points:120,905
Joined:May 2012
Message Posted: Feb 19, 2013 12:21:41 AM

Another fraud like LIBOR. The Wall St. Banksters won't ever see a jail cell because the whole damn system is corrupt.
Profile Pic
SUSANCK
Champion Author Chicago

Posts:5,283
Points:1,005,515
Joined:Apr 2011
Message Posted: Feb 19, 2013 12:01:51 AM

Oil is a sham.
Profile Pic
southrob
Champion Author Tucson

Posts:5,251
Points:1,012,950
Joined:Mar 2011
Message Posted: Feb 18, 2013 11:58:50 PM

dhan quick
Profile Pic
wdcutter
All-Star Author Lansing

Posts:752
Points:76,355
Joined:Mar 2012
Message Posted: Feb 18, 2013 11:54:48 PM

The whole petroleum industry is a sham!
Profile Pic
snagged
Veteran Author Akron

Posts:446
Points:201,730
Joined:Oct 2012
Message Posted: Feb 18, 2013 11:53:57 PM

Trade WTI
Profile Pic
mfeldstein
Champion Author Ottawa

Posts:9,737
Points:2,243,130
Joined:Feb 2007
Message Posted: Feb 18, 2013 11:51:40 PM

Is this a surprise?
Profile Pic
TxPDawg
Champion Author Austin

Posts:1,245
Points:658,630
Joined:Mar 2011
Message Posted: Feb 18, 2013 11:47:02 PM

Isn't it always about money
Profile Pic
kcboy
Champion Author Utah

Posts:5,306
Points:1,782,215
Joined:Jun 2005
Message Posted: Feb 18, 2013 11:46:39 PM

Interesting
Profile Pic
prorodeo2012
All-Star Author Bakersfield

Posts:553
Points:383,330
Joined:Sep 2012
Message Posted: Feb 18, 2013 11:46:30 PM

interesting. i didnt know it worked like th doesnt surprise me.
Profile Pic
Buddy2264
Champion Author Tampa

Posts:13,352
Points:2,692,620
Joined:Oct 2005
Message Posted: Feb 18, 2013 11:44:21 PM

Continuing to pump more in the US and Canada and the prices keep going up do to fuel exports, and we said before "drill baby drill". I am not sure that got us what we wanted, lower prices and independence.
Profile Pic
blazerbob91
Champion Author Milwaukee

Posts:7,012
Points:2,195,580
Joined:Aug 2005
Message Posted: Feb 18, 2013 11:43:08 PM

Any excuse to grab more money
Profile Pic
BREW9
Champion Author Tampa

Posts:2,527
Points:3,244,205
Joined:Jun 2004
Message Posted: Feb 18, 2013 11:41:12 PM

surprise
Profile Pic
carloco75
Champion Author Richmond

Posts:5,425
Points:927,575
Joined:Oct 2010
Message Posted: Feb 18, 2013 11:40:30 PM

Okay yeah...shir...
Profile Pic
oldiesman
Champion Author New York

Posts:7,994
Points:2,509,100
Joined:May 2006
Message Posted: Feb 18, 2013 11:40:12 PM

Another big joke on us!
Profile Pic
EvPv
Champion Author Maine

Posts:2,678
Points:596,035
Joined:Feb 2011
Message Posted: Feb 18, 2013 11:38:26 PM

I noticed between 7-10 years ago brent started being mentioned as the basis for moves in the gasoline pump price. I had never heard that in the mid-90s when I owned a gas station.
Profile Pic
gasmack
Champion Author Ventura

Posts:2,870
Points:951,535
Joined:Feb 2011
Message Posted: Feb 18, 2013 11:37:35 PM

So who's going to step up and protect the consumer?
Profile Pic
Rt118E
Champion Author Pennsylvania

Posts:11,425
Points:1,698,945
Joined:Jun 2009
Message Posted: Feb 18, 2013 11:36:40 PM

The investors are not happy
Profile Pic
CCLighthouse
Champion Author Hartford

Posts:1,508
Points:318,315
Joined:Aug 2012
Message Posted: Feb 18, 2013 11:33:46 PM

A good reason to stay away from Brent Oil! ; (
Profile Pic
VikingWoman
Champion Author Washington

Posts:3,073
Points:575,795
Joined:May 2012
Message Posted: Feb 18, 2013 11:33:21 PM

Show us an article about a truly honest company. That would be really big news.
Profile Pic
Gas4Gore
Champion Author Detroit

Posts:3,370
Points:600,885
Joined:Jan 2010
Message Posted: Feb 18, 2013 11:33:11 PM

Oh my.
Profile Pic
camel1
Champion Author Minnesota

Posts:9,919
Points:2,594,615
Joined:Jul 2006
Message Posted: Feb 18, 2013 11:31:41 PM

Most of us have known this for some time now. How is this new news?
Profile Pic
HoosierDaddyKY
Champion Author Kentucky

Posts:2,377
Points:519,215
Joined:Dec 2011
Message Posted: Feb 18, 2013 11:29:42 PM

okay.
Profile Pic
fullauto
Champion Author Reading

Posts:6,585
Points:1,726,340
Joined:Apr 2008
Message Posted: Feb 18, 2013 11:29:01 PM

boo-hoo. go buy something else.
Profile Pic
grt197
Champion Author Illinois

Posts:2,074
Points:443,625
Joined:Jan 2013
Message Posted: Feb 18, 2013 11:28:27 PM

have no idea
Profile Pic
vrossi46
Champion Author San Jose

Posts:4,148
Points:1,105,665
Joined:Oct 2008
Message Posted: Feb 18, 2013 11:26:22 PM

it's all manipulated, grin and bear it
Profile Pic
drz614
Champion Author Harrisburg

Posts:3,968
Points:929,940
Joined:Aug 2011
Message Posted: Feb 18, 2013 11:25:15 PM

interesting info
Profile Pic
cssco
Champion Author Virginia

Posts:8,948
Points:2,080,070
Joined:Feb 2006
Message Posted: Feb 18, 2013 11:25:04 PM

Thanks to this artic, I have changed my plans to top off the next time I came across one of those Brent Stations. Now, that would really have been a Big, Big, Mistake. I have always like the Texas stuff, seems to bury hotter.
Profile Pic
Darwin00
Champion Author Mississippi

Posts:1,757
Points:568,935
Joined:Dec 2010
Message Posted: Feb 18, 2013 11:24:42 PM

ah, what did he say?
Profile Pic
BBHybrid
Champion Author Pittsburgh

Posts:6,530
Points:1,310,075
Joined:Aug 2008
Message Posted: Feb 18, 2013 11:24:40 PM

pricing of gas is a sham
Profile Pic
WIPACKERFAN
Champion Author Chicago

Posts:10,459
Points:2,174,105
Joined:Aug 2005
Message Posted: Feb 18, 2013 11:17:47 PM

OK
Profile Pic
prassu2012
Champion Author Illinois

Posts:2,254
Points:475,265
Joined:Dec 2012
Message Posted: Feb 18, 2013 11:16:58 PM

hope i have no idea
Profile Pic
Carol7777
Champion Author Houston

Posts:74,781
Points:479,565
Joined:Dec 2012
Message Posted: Feb 18, 2013 11:14:08 PM

I'd call it a SCAM, not a sham.
Profile Pic
TheSnowstorm
Champion Author Montreal

Posts:9,531
Points:2,203,790
Joined:June 2005
Message Posted: Feb 18, 2013 11:10:19 PM

The right hand no longer knows who or what the left is screwing over, much less if it itself is being screwed.
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:4,730
Points:1,142,755
Joined:Sep 2009
Message Posted: Feb 18, 2013 11:08:44 PM

and who controls the Brent crude pricing....
Profile Pic
cifuentesab
Champion Author Sacramento

Posts:2,259
Points:834,350
Joined:Jul 2011
Message Posted: Feb 18, 2013 11:07:04 PM

Sad state
Profile Pic
flyfast
Champion Author Kansas City

Posts:10,856
Points:2,152,010
Joined:Jan 2008
Message Posted: Feb 18, 2013 11:01:48 PM

what toooo doooo
Profile Pic
Lukus
Champion Author Halifax

Posts:9,869
Points:1,996,600
Joined:Nov 2007
Message Posted: Feb 18, 2013 11:01:37 PM

ok
Profile Pic
abcdMA
Champion Author Worcester

Posts:9,550
Points:1,899,865
Joined:Nov 2008
Message Posted: Feb 18, 2013 10:59:36 PM

Interesting
Profile Pic
wayoung56
Champion Author Alabama

Posts:4,360
Points:1,137,635
Joined:Oct 2006
Message Posted: Feb 18, 2013 10:58:18 PM

So what is the English explanation???
Profile Pic
30mpg80
Champion Author Lexington

Posts:13,117
Points:1,819,505
Joined:Nov 2008
Message Posted: Feb 18, 2013 10:58:03 PM

The speculators are reaching into the pockets all gasoline and diesel buyers and stealing billions of dollars!
Profile Pic
bvrbill
Champion Author Eugene

Posts:5,811
Points:849,720
Joined:Jul 2011
Message Posted: Feb 18, 2013 10:54:38 PM

The energy market ia a big scam.
Profile Pic
badharley
Champion Author Tampa

Posts:2,609
Points:1,063,690
Joined:Jul 2010
Message Posted: Feb 18, 2013 10:51:51 PM

Just more confusion.
Profile Pic
mstearno
Champion Author Dayton

Posts:9,292
Points:2,033,210
Joined:Jan 2008
Message Posted: Feb 18, 2013 10:50:58 PM

really?
Profile Pic
abacus44
Champion Author Toms River

Posts:5,011
Points:1,071,730
Joined:Jan 2011
Message Posted: Feb 18, 2013 10:49:17 PM

OK
Profile Pic
keo
Champion Author Colorado

Posts:11,823
Points:2,356,725
Joined:May 2004
Message Posted: Feb 18, 2013 10:49:03 PM

What isn't ?
Profile Pic
jorod55
Champion Author California

Posts:3,131
Points:762,640
Joined:Dec 2011
Message Posted: Feb 18, 2013 10:48:08 PM

So where is enforcement?
Profile Pic
walkingtall
Champion Author Toronto

Posts:5,594
Points:1,443,550
Joined:Nov 2004
Message Posted: Feb 18, 2013 10:44:20 PM

The brent oil contract is a sham and more attention needs to be paid to these contacts.
Post a reply Back to Topics