Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
care for a side bet on whether we have a 5 handle before we have a 7 handle?

One magic rule of commod trading.  Prices move in the direction that F===ks the most people.  Right now, the world is long.  

Interesting to look at table of wti prices.  As of today (aug 18) the price is nearly flat for 5 years forward..

by HiD on Thu Aug 18th, 2005 at 05:58:24 AM EST
[ Parent ]
I'd like a good quote on such a bet, because I would not be too optimistic to win it... Make me an offer!

Do you have a good site to have all the forwards in one place, and generally to get usable data on the oil prices, because I still miss that, strangely enough, and rely on the mainstream sites which are quite limited? Thanks

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Thu Aug 18th, 2005 at 06:26:10 AM EST
[ Parent ]
I ditched my WSJ subscription which has the NYMEX quotes.  I found another site that had a table out to dec 2011 (people trade calender spreads off Dec usually).  Can't seem to find it again.  IIRC.  Front about 64, then in contango to $65 ish mid next spring then gentle backwardation to about $58 in 6 years time.  Pretty flat on a percentage basis.  I wouldn't trust NYMEX quotes much further out than that.  The locals fool around with the #'s out in the illiquid areas to minimize their margins.  I don't know of any place you can get free OTC quotes.

as for the bet, I'm just pulling on your beard.  One reason I was a very mediocre trader is I have no huge desire to gamble every second of every day.

by HiD on Thu Aug 18th, 2005 at 11:03:16 PM EST
[ Parent ]


Occasional Series