Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
How much oil is actually traded and makes up this WTI or brent index and how much is traded bilaterally. I.e. how relevant are these two benchmarks really? Chris cook, please explain!

Having said that, I believe the price can only go up if you look how many cars india china etc are buying, many of which are now cars entering the market and not like in the us replacing old ones... Just a thought...

by crankykarsten (cranky (where?) gmx dot organisation) on Mon Feb 28th, 2011 at 04:20:39 PM EST
Lots of over the counter energy trades are priced to Brent or WTI. That's what Chris used to holler about a couple of years back - oilcos and banksters could take smallish (well, relatively speaking anyway) losses "on exchange" and then cash in from the much higher volume of over the counter contracts linked to the exchange.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Feb 28th, 2011 at 05:41:56 PM EST
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