{"id":11184,"date":"2010-06-18T09:25:20","date_gmt":"2010-06-18T07:25:20","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11184\/brent-oil-beats-wti-as-better-guide-of-world-oil-prices\/"},"modified":"2010-06-18T09:25:20","modified_gmt":"2010-06-18T07:25:20","slug":"brent-oil-beats-wti-as-better-guide-of-world-oil-prices","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11184\/brent-oil-beats-wti-as-better-guide-of-world-oil-prices\/","title":{"rendered":"Brent oil beats WTI as better guide of world oil prices"},"content":{"rendered":"

Once again Brent and WTI contracts are being discussed as to which is a better guide to the most accurate world oil prices. The US Department of Energy has joined the list of critics of WTI oil prices, saying the US oil benchmark \u201cdoes not always exactly follow the broader oil market\u201d. A similar concern from the IEA, the western countries\u2019 oil watchdog and after Saudi Arabia dropped WTI as its reference in October 2010. The EIA said that last month WTI prices dropped more than other varieties of similar quality, including the North Sea\u2019s Brent crude and US Louisiana Light Sweet. WTI also rebounded faster. The EIA explained that the price difference between LLS and Brent \u201cvaried very little\u201d in the same period. Crude oil traders and analysts have attributed the exaggerated decline and subsequent increase in WTI oil prices to localised supply conditions at the pipeline hub of Cushing, Oklahoma, the delivery point for the NYMEX WTI contract. Currently Brent crude oil futures are tradiung at a premium of about $2.02 a barrel above WTI oil prices due to rising inventories at Cushing. Current oil prices at midday Singapore time on Friday are WTI light crude oil futures at $76.55 per barrel on the NYMEX and Brent crude oil futures at $78.58 per barrel on the ICE Futures Exchange. Crude oil prices trading steady in $77 to $80 range WTI oil price trading higher on US dollar & supply data Brent oil price sinks under $72 as the Euro looses ground Brent oil trading lower on continued euro debt concerns Brent oil trading at $71 as commodities & markets wacked Oil prices start the week trading higher on US data Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock Oil prices trading down two percent on latest US jobs data WTI oil trading firm amid higher US crude oil supply Brent oil price trading over $78 and looking bullish Brent oil price trading near $76 mark on higher Euro Oil prices trading higher helped by Asian stock markets Oil prices end week around $74 mark in uncertain market Brent v WTI, the battle of the crude oil price benchmarks WTI oil price at $72, US oil production in 2011 to drop Brent oil price trading above $72, looks to US crude data Brent oil price trading at $71 amid European debt issues Brent oil trading back at $71 level as Euro slides lower Crude oil prices fall four percent on gloomy US jobs data <\/p>\n

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\nBrent oil beats WTI as better guide of world oil prices<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Once again Brent and WTI contracts are being discussed as to which is a better guide to the most accurate world oil prices. The US Department of Energy has joined the list of critics of WTI oil prices, saying the US oil benchmark \u201cdoes not always exactly follow the broader oil market\u201d. A similar concern from the IEA, the western countries\u2019 oil watchdog and after Saudi Arabia dropped WTI as its reference in October 2010. The EIA said that last month WTI prices dropped more than other varieties of similar quality, including the North Sea\u2019s Brent crude and US Louisiana Light Sweet. WTI also rebounded faster. The EIA explained that the price difference between LLS and Brent \u201cvaried very little\u201d in the same period. Crude oil traders and analysts have attributed the exaggerated decline and subsequent increase in WTI oil prices to localised supply conditions at the pipeline hub of Cushing, Oklahoma, the delivery point for the NYMEX WTI contract. Currently Brent crude oil futures are tradiung at a premium of about $2.02 a barrel above WTI oil prices due to rising inventories at Cushing. Current oil prices at midday Singapore time on Friday are WTI light crude oil futures at $76.55 per barrel on the NYMEX and Brent crude oil futures at $78.58 per barrel on the ICE Futures Exchange. Crude oil prices trading steady in $77 to $80 range WTI oil price trading higher on US dollar & supply data Brent oil price sinks under $72 as the Euro looses ground Brent oil trading lower on continued euro debt concerns Brent oil trading at $71 as commodities & markets wacked Oil prices start the week trading higher on US data Euro in Greek tailspin, US dollar firms & oil prices holding out Light oil price trading up as US dollar takes a knock Oil prices trading down two percent on latest US jobs data WTI oil trading firm amid higher US crude oil supply Brent oil price trading over $78 and looking bullish Brent oil price trading near $76 mark on higher Euro Oil prices trading higher helped by Asian stock markets Oil prices end week around $74 mark in uncertain market Brent v WTI, the battle of the crude oil price benchmarks WTI oil price at $72, US oil production in 2011 to drop Brent oil price trading above $72, looks to US crude data Brent oil price trading at $71 amid European debt issues Brent oil trading back at $71 level as Euro slides lower Crude oil prices fall four percent on gloomy US jobs data <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11184","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=11184"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11184\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=11184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=11184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=11184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}