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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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skidsteer85xt Champion Author Indiana Posts:3,595 Points:184,100 Joined:Oct 2012	Message Posted: Dec 5, 2012 1:51:00 PM Ignore skidsteer85xt Report Abuse good
honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Nov 30, 2012 3:57:13 AM Ignore honda0105 Report Abuse danmc: Brent (North Sea) oil has long been the measure of European oil pricing.
danmckdude Rookie Author Detroit Posts:43 Points:186,115 Joined:Aug 2012	Message Posted: Nov 29, 2012 8:48:56 AM Ignore danmckdude Report Abuse I never heard of Brent crude until I read this article, I need to do some more research
spiderjay Champion Author Little Rock Posts:4,773 Points:1,282,235 Joined:Oct 2005	Message Posted: Nov 28, 2012 4:32:28 PM Ignore spiderjay Report Abuse sounds good
BigOyl All-Star Author Wichita Posts:877 Points:346,480 Joined:Apr 2012	Message Posted: Nov 28, 2012 2:28:51 PM Ignore BigOyl Report Abuse Awesome. I was wondering?!
NorthglennBill Champion Author Denver Posts:7,417 Points:1,469,370 Joined:Oct 2008	Message Posted: Nov 28, 2012 12:42:32 PM Ignore NorthglennBill Report Abuse Another story that just won't go away.
nskmda Champion Author Grand Rapids Posts:1,270 Points:785,030 Joined:May 2007	Message Posted: Nov 28, 2012 10:42:43 AM Ignore nskmda Report Abuse still?
malfrog1 Champion Author South Bend Posts:2,181 Points:545,985 Joined:Feb 2011	Message Posted: Nov 28, 2012 9:43:02 AM Ignore malfrog1 Report Abuse O K
TXryder Champion Author Texas Posts:2,686 Points:428,730 Joined:Jan 2012	Message Posted: Nov 28, 2012 9:21:24 AM Ignore TXryder Report Abuse 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 Posts:3,740 Points:1,867,065 Joined:May 2007	Message Posted: Nov 28, 2012 9:13:29 AM Ignore Mariuxus Report Abuse ok...old
AC-302 Champion Author Los Angeles Posts:26,541 Points:2,898,095 Joined:Aug 2004	Message Posted: Nov 28, 2012 9:11:37 AM Ignore AC-302 Report Abuse Saw this, but West Texas Light-Sweet is still the world standard.
bowler300MO Champion Author Missouri Posts:1,983 Points:868,765 Joined:Mar 2010	Message Posted: Nov 28, 2012 9:11:07 AM Ignore bowler300MO Report Abuse old
myambro Champion Author Sacramento Posts:3,194 Points:1,049,375 Joined:Mar 2005	Message Posted: Nov 28, 2012 9:09:35 AM Ignore myambro Report Abuse Yesterday's news.
nemoFL Champion Author Florida Posts:8,781 Points:1,606,275 Joined:Oct 2008	Message Posted: Nov 28, 2012 9:08:15 AM Ignore nemoFL Report Abuse ok
HEBster Champion Author Kentucky Posts:8,768 Points:2,370,025 Joined:May 2006	Message Posted: Nov 28, 2012 9:07:27 AM Ignore HEBster Report Abuse Hmm...
dlzastera Champion Author Minnesota Posts:4,490 Points:1,019,345 Joined:Mar 2006	Message Posted: Nov 28, 2012 9:04:53 AM Ignore dlzastera Report Abuse Some things have to change.
Toppers Champion Author Atlanta Posts:8,997 Points:2,467,770 Joined:Mar 2005	Message Posted: Nov 28, 2012 9:04:17 AM Ignore Toppers Report Abuse Yeah-saw that y'day.
gonzohb Champion Author Los Angeles Posts:1,142 Points:994,125 Joined:Aug 2008	Message Posted: Nov 28, 2012 9:03:40 AM Ignore gonzohb Report Abuse ZZZZZZZZZZZZZZZZ
ssect8 Champion Author Hartford Posts:7,973 Points:2,092,520 Joined:Jun 2006	Message Posted: Nov 28, 2012 9:03:31 AM Ignore ssect8 Report Abuse This is the reason why prices are set by greed and speculation and not supply and demand.
rjwill1 Sophomore Author New Jersey Posts:109 Points:496,480 Joined:Mar 2011	Message Posted: Nov 28, 2012 9:02:38 AM Ignore rjwill1 Report Abuse yesterdays news
Kaiyne Champion Author Chicago Posts:2,319 Points:468,815 Joined:Feb 2011	Message Posted: Nov 28, 2012 9:01:15 AM Ignore Kaiyne Report Abuse ok.
yelobus Champion Author Houston Posts:5,579 Points:1,552,840 Joined:Aug 2006	Message Posted: Nov 28, 2012 9:01:01 AM Ignore yelobus Report Abuse Old news.
TRAIN RIDER Champion Author San Bernardino Posts:9,062 Points:2,753,820 Joined:Oct 2004	Message Posted: Nov 28, 2012 9:00:31 AM Ignore TRAIN RIDER Report Abuse Read this yesterday.
F81M Champion Author Indiana Posts:1,478 Points:783,135 Joined:Aug 2008	Message Posted: Nov 28, 2012 9:00:13 AM Ignore F81M Report Abuse Not important.
treehood Champion Author San Diego Posts:2,024 Points:392,760 Joined:May 2011	Message Posted: Nov 28, 2012 8:59:53 AM Ignore treehood Report Abuse This is kind of a "so what" story. Slightly interesting but very little affect on our lives.
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dirtydiesel10 Champion Author Colorado Springs Posts:1,162 Points:232,360 Joined:Dec 2010	Message Posted: Nov 28, 2012 8:57:50 AM Ignore dirtydiesel10 Report Abuse Old news!
marion1739 All-Star Author Missouri Posts:810 Points:256,380 Joined:Jan 2011	Message Posted: Nov 28, 2012 8:56:16 AM Ignore marion1739 Report Abuse Time for solar electric powered cars
henryeOH Champion Author Akron Posts:1,056 Points:58,070 Joined:Jan 2011	Message Posted: Nov 28, 2012 8:55:12 AM Ignore henryeOH Report Abuse same as yesterday. lets have fresh stuff
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jd2009 Champion Author Honolulu Posts:4,269 Points:1,312,680 Joined:Jan 2009	Message Posted: Nov 28, 2012 8:53:11 AM Ignore jd2009 Report Abuse Old news
BeaconLite Champion Author Ottawa Posts:1,922 Points:366,250 Joined:Sep 2009	Message Posted: Nov 28, 2012 8:51:00 AM Ignore BeaconLite Report Abuse Deja vue news.
Diesel_Ram Champion Author Dallas Posts:6,482 Points:1,514,460 Joined:Jan 2009	Message Posted: Nov 28, 2012 8:49:35 AM Ignore Diesel_Ram Report Abuse Yesterdays Story
ntass1 Champion Author Edmonton Posts:3,775 Points:724,025 Joined:May 2011	Message Posted: Nov 28, 2012 8:48:57 AM Ignore ntass1 Report Abuse Read this Yesterday
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lmpski Veteran Author Boston Posts:427 Points:392,750 Joined:May 2011	Message Posted: Nov 28, 2012 8:43:11 AM Ignore lmpski Report Abuse ...frack baby, frack!
peapaw Champion Author Ohio Posts:4,020 Points:684,770 Joined:Jun 2011	Message Posted: Nov 28, 2012 8:42:42 AM Ignore peapaw Report Abuse Ok
unicornpmb Champion Author Buffalo Posts:8,471 Points:1,625,515 Joined:Sep 2005	Message Posted: Nov 28, 2012 8:40:08 AM Ignore unicornpmb Report Abuse YEA.
FocusGuy Champion Author Seattle Posts:7,037 Points:1,408,755 Joined:Apr 2009	Message Posted: Nov 28, 2012 8:38:49 AM Ignore FocusGuy Report Abuse so what
BlueVanGroup Champion Author Colorado Posts:7,189 Points:1,524,655 Joined:May 2008	Message Posted: Nov 28, 2012 8:37:38 AM Ignore BlueVanGroup Report Abuse Another example of the world turning away from the U.S.
ciimike Champion Author Nevada Posts:4,638 Points:1,061,310 Joined:Aug 2005	Message Posted: Nov 28, 2012 8:36:36 AM Ignore ciimike Report Abuse Old news.
paoli8 Champion Author Philadelphia Posts:7,071 Points:1,816,895 Joined:Jul 2007	Message Posted: Nov 28, 2012 8:36:21 AM Ignore paoli8 Report Abuse ok
w4kh Champion Author Tennessee Posts:11,650 Points:2,224,990 Joined:May 2004	Message Posted: Nov 28, 2012 8:35:24 AM Ignore w4kh Report Abuse 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 Posts:1,662 Points:760,645 Joined:Mar 2008	Message Posted: Nov 28, 2012 8:35:22 AM Ignore HATinMUNDY Report Abuse Time will tell.....
GManCo Champion Author Colorado Springs Posts:4,981 Points:947,815 Joined:Sep 2010	Message Posted: Nov 28, 2012 8:34:22 AM Ignore GManCo Report Abuse old news.
tidalwave3 Champion Author Tallahassee Posts:1,294 Points:1,460,075 Joined:Jun 2008	Message Posted: Nov 28, 2012 8:34:06 AM Ignore tidalwave3 Report Abuse 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 Posts:2,390 Points:709,675 Joined:Apr 2009	Message Posted: Nov 28, 2012 8:33:26 AM Ignore LostAgain2009 Report Abuse Lather, rinse, repeat article
cssco Champion Author Virginia Posts:7,306 Points:1,747,530 Joined:Feb 2006	Message Posted: Nov 28, 2012 8:33:12 AM Ignore cssco Report Abuse The U.S. media focuses on WTI crude because it is easier to write than Brent crude, by two whole letters.