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The CL Crude-analysis Thread
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The CL Crude-analysis Thread

  #1901 (permalink)
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jokertrader View Post
in the energy markets the OCTNOVDEC and the APRMAYJUN are two of the most consistent range trades in the last 10 years

what does he mean?

Who?

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  #1902 (permalink)
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someone from another forum

some spread trading link from another big forum starting with elite

Tomorrow i will take the M contract since H is done and do some analysis..... (since we talked about HMU being important)..

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  #1903 (permalink)
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Oil will soon change the trend to bearish

I want to show my trade

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  #1904 (permalink)
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Saudi's Balancing Act

"After a lesser draw than expected to crude inventories, oil is selling off on this third Wednesday in April. As strong imports from the Middle East this week should help to buoy inventories for next week's report, hark, here are five things to consider in oil markets today. " Saudi's balancing act

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Is Crude Oil taking cue from Vegetable Oils?

Interesting report from the CME out a few weeks ago:

Is Crude Oil Taking Cue from Vegetable Oils? - CME Group

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CobblersAwls View Post
Interesting report from the CME out a few weeks ago:

Is Crude Oil Taking Cue from Vegetable Oils? - CME Group

That is very interesting thanks for posting.
Im new to the oil market, do you use vegetable oil correlations in your analysis?

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Grantx View Post
That is very interesting thanks for posting.
Im new to the oil market, do you use vegetable oil correlations in your analysis?

Hi,

No this is the first time I've looked this type of relationship although I'd assume another interesting one would be Ethanol (from corn) and Gasoline due to their blending in the US.

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  #1908 (permalink)
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I think these article could have been written much better, quoting bank analysts and consultants as if they were traders, and making what I think are confusing statements alluding to "Dated Brent"*, but I think the underlying point is both interesting and sound!

Bloomberg :- The Real World of Oil Has a Warning for Financial Markets
https://www.bloomberg.com/news/articles/2017-04-20/brent-physical-oil-market-weakens-again-despite-opec-output-cuts



* A) "In the world of contracts for difference, which allow traders to insure price exposure for their North Sea crude shipments week-by-week, the one-week CFD spread plunged this week to minus $1.84 a barrel" - Raise your hand if you know what a CFD is and what this means? and
* B) "Glencore ... bought from ... Total SA a cargo of Brent crude at $1 a barrel below the main North Sea benchmark, the widest discount in 22 months, according to a trader monitoring deals." - aka "Dated Brent"

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SMCJB View Post
In the world of contracts for difference, which allow traders to insure price exposure for their North Sea crude shipments week-by-week, the one-week CFD spread plunged this week to minus $1.84 a barrel" - Raise your hand if you know what a CFD is and what this means?

That part also perked my interest and I have no idea what to look at or how to measure the CFD spread. Can you elaborate?

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  #1910 (permalink)
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Grantx View Post
That part also perked my interest and I have no idea what to look at or how to measure the CFD spread. Can you elaborate?

Dated Brent is like the "Cash Brent" price. It represents the price of Brent cargoes that have specific loading dates and is the worlds mostly widely used benchmark for pricing physical crude.

See ... Dated Brent Price Assessment Explained | Platts for more.

When they said "Glencore ... bought from ... Total SA a cargo of Brent crude at $1 a barrel below the main North Sea benchmark" that could mean that Glencore bought a dated brent cargo at May or Jun minus $1, but it could also mean that they bought a cargo $1 below yesterdays Dated Brent price. Who knows, sort of my point that the article was unclear.

With regard to CFD's they are like "Spread Swaps" or "Floating-Floating Swaps" which settle based upon the spread between Platts Dated Brent quote and Platts Month XYZ (eg June) Brent (which is very similar to ICE's Brent Settlement). They normally have pricing periods for a calendar week and normally have a notional size of 500kb - which is also the size of a Dated Brent Cargo.

Again when they say "the one-week CFD spread plunged this week to minus $1.84 a barrel" this is very unclear as they don't identify a) which week traded or b) whether that's a discount to May or June.

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