Quote:
Originally Posted by Donger
And, crude touched $100/barrel a few minutes ago.
|
Your behind the curve friend - spot crude has been over a c-note for a week or 2 now because Brent Crude (that's what they trade most over in London and other markets in those areas), has been over a 100 for a couple weeks and is over 110 right now !
Have you heard of Cushing, OK ? Well that's a hub for transporting and storing WTI, and they've run out of storage capacity so it's trading much lower than Brent, but Brent is what they use back East anyway to refine and produce gasoline and other petro products so people back East are really paying for the going/spot price of Brent.
But the big question is when will Obama and his tree-hugger buddies re-open
drilling in the Gulf of Mexico ? With the Middle East going up in flames, I think it's about time ?