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Message: The Oil Picture - kirby

The Oil Picture - kirby

posted on Jan 20, 2009 01:25PM

Back in June, 2007, Market Watch re ported,

Normally, Brent crude costs $1- $2 less than WTI crude, according to James Williams, an economist at WTRG Economics. At its peak, the price spread between the two topped $5, according to his data.

The article went on to explain,

WTI usually trades at a premium to Brent "because of the slightly higher quality, and the extra journey" oil tankers have to take to get the oil to the U.S., according to Amanda Lee, a strategist at Deutsche Bank. So "WTI minus dated Brent should be roughly equal to the freight rate," she said. Indeed, "crude- oil prices usually depend on two things: quality and location," said Williams. "The greater the distance from the major exporters, the greater the price."

But here’s what’s happened recently in the global crude oil market:

Brent Crude trading at a 7 Dollar premium to West Texas Intermediate is like the SUN rising in the west and setting in the east – and no-one asking any questions why?

Thanks to the unearthing of the Fed’s Playbook Document, referenced above, along with cumulative knowledge of the existence of the President’s Working Group On Financial Markets [aka the Plunge Protection Team]; we know that interference in strategic markets with national security implications is now practiced commonly by the Government and the Fed working together. No other explanation for this distortion is plausible other than NYMEX regulators like the Commodities Futures Trading Corp. [CFTC - Plunge Protection Team members] are more brazen and actively complicit in market rigging of strategic commodities than their London counterparts. This manipulation is all being done in desperation; to preserve U.S. Dollar hegemony by perpetuating the illusion that inflation is being held at bay. Ample anecdotal evidence exists in a host of articles – particularly relating to derelict CFTC oversight of COMEX gold and silver futures - archived at kirbyanalytics.com to support this position.


Jan 20, 2009 08:17PM
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