Crude Oil

[Mick100]

thanks Phaedrus

[Phaedrus]

Sorry Shasta, I only maintain data for Brent and West Texas oil.

I cut this from an Australian Treasury report :-

Of the more than 160 types of crude oil traded globally, the most widely cited oil benchmark is West Texas Intermediate (WTI) crude, although WTI accounts for less than 1% of global oil production. The price of crude is largely based on its chemical properties, in particular its sweetness (sulphur content) and weight (API gravity). A ‘sweet and light’ crude generally trades at a premium to a ‘heavy and sour’ crude, as the former is cheaper to process into petrol. Historically, WTI, which has an API gravity of 39.6 degrees and sulphur content of 0.2% making it a sweet and light crude has tended to trade at a premium to Brent and Dubai (see chart below) and at rough parity with Tapis, which is the lightest and sweetest of the main types of crude oil, with an API gravity of 45.5 degrees and sulphur content of 0.1%.


They all have price plots of very similar shape and could be expected to trigger practically identical technical signals.

Here then is a chart of West Texas oil in $US which should be the approximate equivalent of Tapis. I hope you find it of some assistance.

[macduffy]

Thanks, Phaedrus, for the reminder to keep our eyes on the trend and try to ignore the fluctuations.

http://www.theaustralian.news.com.au...005200,00.html

[Mick100]

31/03/09 net short 11450 49.66

14/04.09 net short 14100 52.50
21/04/09 net long 2585 48.55
28/04/09 net long 7100 49.92
05/05/09 net long 4400 53.84

[Mick100]

31/03/09 net short 11450 49.66

14/04.09 net short 14100 52.50
21/04/09 net long 2585 48.55
28/04/09 net long 7100 49.92
05/05/09 net long 4400 53.84
12/05/09 net short 17150
19/05/09 net short 48000 60.10

[Corporate]

updated chart anyone....oil creeping higher. Haven't seen to much of a rise in oilers in general. Time to pick some up i think.

[Mick100]

31/03/09 net short 11450 49.66

14/04.09 net short 14100 52.50
21/04/09 net long 2585 48.55
28/04/09 net long 7100 49.92
05/05/09 net long 4400 53.84
12/05/09 net short 17150
19/05/09 net short 48000 60.10
26/05/09 net short 55700 62.45
,

[Mick100]

31/03/09 net short 11450 49.66

14/04.09 net short 14100 52.50
21/04/09 net long 2585 48.55
28/04/09 net long 7100 49.92
05/05/09 net long 4400 53.84
12/05/09 net short 17150
19/05/09 net short 48000 60.10
26/05/09 net short 55700 62.45
02/06/09 net short 56700 68.55

[airedale]

Just picked this up and may be worthy of discussion. {or derision if Skol sees it}
http://www.ino.com/blog/2014/06/high.../#.U5gJefmSzT8

[Valuegrowth]

As I expected oil prices are in down trend now. NZD, AUD and CAD should follow oil next. Oil could go down to around $80 per barrel. This is good news for the global economy.

http://www.forbes.com/sites/thomasla...e-set-to-fall/
Here Comes Cheaper Oil: Why Prices Are Set to Fall

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please note that I do not endorse or take responsibility for material in the above hyper-linked sites. Please do your own research.