Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:06 PM

GasBuddy News Article

55
votes
The Brent Oil Contract is a Sham

EconMatters -- Oil Benchmark

It is a sad state of affairs that the entire world of energy, and consumer energy prices are all based upon a fraud of an energy contract masquerading as the Industry`s Benchmark, setting the price for all other grades.

Monthly Rollover Ramp

Here is an idea of how manipulated the Brent Oil contract that trades mainly on the ICE exchange is we are at rollover time once again in the Brent oil contract and sure enough as day, the contract is moved up substantially right before expiration.

This happens almost every rollover, and is impossible to do in a non-deliverable market without precise market manipulation.

Always Positive Rollover Carry

The other common feature of the Brent contract is the expiring month is always higher by a dollar, dollar and a half,...


Read the Full Article

Submitted Feb 18, 2013 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: The Brent Oil Contract is a Sham Back to Topics
REPLIES (newest first) Post a Reply
jethro5000
Champion Author Kentucky

Posts:5,289
Points:1,223,690
Joined:Jun 2005
Message Posted: Feb 19, 2013 7:10:01 AM

Old news...
GasCzarCO
Champion Author Colorado Springs

Posts:1,878
Points:1,501,825
Joined:Mar 2010
Message Posted: Feb 19, 2013 1:54:32 AM

We all complain but we keep on taking our dollars to market.
MrLefty0706
Champion Author Chicago

Posts:4,792
Points:1,185,835
Joined:Apr 2012
Message Posted: Feb 19, 2013 1:49:15 AM

The worst part is we were given false hope regarding gas prices in 2013.
PissedATthePump
All-Star Author Pennsylvania

Posts:600
Points:160,180
Joined:May 2012
Message Posted: Feb 19, 2013 12:21:41 AM

Another fraud like LIBOR. The Wall St. Banksters won't ever see a jail cell because the whole damn system is corrupt.
SUSANCK
Champion Author Chicago

Posts:6,386
Points:1,319,525
Joined:Apr 2011
Message Posted: Feb 19, 2013 12:01:51 AM

Oil is a sham.
southrob
Champion Author Tucson

Posts:6,088
Points:1,415,720
Joined:Mar 2011
Message Posted: Feb 18, 2013 11:58:50 PM

dhan quick
wdcutter
All-Star Author Lansing

Posts:829
Points:120,570
Joined:Mar 2012
Message Posted: Feb 18, 2013 11:54:48 PM

The whole petroleum industry is a sham!
snagged
Veteran Author Akron

Posts:468
Points:360,220
Joined:Oct 2012
Message Posted: Feb 18, 2013 11:53:57 PM

Trade WTI
mfeldstein
Champion Author Ottawa

Posts:11,429
Points:2,715,960
Joined:Feb 2007
Message Posted: Feb 18, 2013 11:51:40 PM

Is this a surprise?
TxPDawg
Champion Author Austin

Posts:1,570
Points:1,079,705
Joined:Mar 2011
Message Posted: Feb 18, 2013 11:47:02 PM

Isn't it always about money
kcboy
Champion Author Utah

Posts:6,297
Points:2,072,005
Joined:Jun 2005
Message Posted: Feb 18, 2013 11:46:39 PM

Interesting
prorodeo2012
All-Star Author Bakersfield

Posts:567
Points:593,835
Joined:Sep 2012
Message Posted: Feb 18, 2013 11:46:30 PM

interesting. i didnt know it worked like th doesnt surprise me.
Buddy2264
Champion Author Tampa

Posts:15,135
Points:3,202,470
Joined:Oct 2005
Message Posted: Feb 18, 2013 11:44:21 PM

Continuing to pump more in the US and Canada and the prices keep going up do to fuel exports, and we said before "drill baby drill". I am not sure that got us what we wanted, lower prices and independence.
blazerbob91
Champion Author Milwaukee

Posts:7,104
Points:2,653,020
Joined:Aug 2005
Message Posted: Feb 18, 2013 11:43:08 PM

Any excuse to grab more money
BREW9
Champion Author Tampa

Posts:4,257
Points:3,725,110
Joined:Jun 2004
Message Posted: Feb 18, 2013 11:41:12 PM

surprise
carloco75
Champion Author Richmond

Posts:7,033
Points:1,407,485
Joined:Oct 2010
Message Posted: Feb 18, 2013 11:40:30 PM

Okay yeah...shir...
oldiesman
Champion Author New York

Posts:9,569
Points:2,956,755
Joined:May 2006
Message Posted: Feb 18, 2013 11:40:12 PM

Another big joke on us!
EvPv
Champion Author Maine

Posts:4,412
Points:1,094,630
Joined:Feb 2011
Message Posted: Feb 18, 2013 11:38:26 PM

I noticed between 7-10 years ago brent started being mentioned as the basis for moves in the gasoline pump price. I had never heard that in the mid-90s when I owned a gas station.
gasmack
Champion Author Ventura

Posts:4,154
Points:1,411,565
Joined:Feb 2011
Message Posted: Feb 18, 2013 11:37:35 PM

So who's going to step up and protect the consumer?
Rt118E
Champion Author Pennsylvania

Posts:13,558
Points:2,180,490
Joined:Jun 2009
Message Posted: Feb 18, 2013 11:36:40 PM

The investors are not happy
CCLighthouse
Champion Author Hartford

Posts:1,508
Points:318,315
Joined:Aug 2012
Message Posted: Feb 18, 2013 11:33:46 PM

A good reason to stay away from Brent Oil! ; (
VikingWoman
Champion Author Washington

Posts:4,701
Points:1,053,330
Joined:May 2012
Message Posted: Feb 18, 2013 11:33:21 PM

Show us an article about a truly honest company. That would be really big news.
Gas4Gore
Champion Author Detroit

Posts:3,370
Points:600,885
Joined:Jan 2010
Message Posted: Feb 18, 2013 11:33:11 PM

Oh my.
camel1
Champion Author Minnesota

Posts:11,615
Points:3,067,565
Joined:Jul 2006
Message Posted: Feb 18, 2013 11:31:41 PM

Most of us have known this for some time now. How is this new news?
HoosierDaddyKY
Champion Author Kentucky

Posts:3,531
Points:859,270
Joined:Dec 2011
Message Posted: Feb 18, 2013 11:29:42 PM

okay.
fullauto
Champion Author Reading

Posts:7,155
Points:1,890,470
Joined:Apr 2008
Message Posted: Feb 18, 2013 11:29:01 PM

boo-hoo. go buy something else.
grt197
Champion Author Illinois

Posts:2,141
Points:511,130
Joined:Jan 2013
Message Posted: Feb 18, 2013 11:28:27 PM

have no idea
vrossi46
Champion Author San Jose

Posts:5,810
Points:1,574,080
Joined:Oct 2008
Message Posted: Feb 18, 2013 11:26:22 PM

it's all manipulated, grin and bear it
drz614
Champion Author Harrisburg

Posts:5,720
Points:1,410,565
Joined:Aug 2011
Message Posted: Feb 18, 2013 11:25:15 PM

interesting info
cssco
Champion Author Virginia

Posts:10,579
Points:2,544,360
Joined:Feb 2006
Message Posted: Feb 18, 2013 11:25:04 PM

Thanks to this artic, I have changed my plans to top off the next time I came across one of those Brent Stations. Now, that would really have been a Big, Big, Mistake. I have always like the Texas stuff, seems to bury hotter.
Darwin00
Champion Author Mississippi

Posts:2,026
Points:992,000
Joined:Dec 2010
Message Posted: Feb 18, 2013 11:24:42 PM

ah, what did he say?
BBHybrid
Champion Author Pittsburgh

Posts:6,530
Points:1,310,075
Joined:Aug 2008
Message Posted: Feb 18, 2013 11:24:40 PM

pricing of gas is a sham
WIPACKERFAN
Champion Author Chicago

Posts:12,184
Points:2,673,980
Joined:Aug 2005
Message Posted: Feb 18, 2013 11:17:47 PM

OK
prassu2012
Champion Author Illinois

Posts:3,708
Points:942,945
Joined:Dec 2012
Message Posted: Feb 18, 2013 11:16:58 PM

hope i have no idea
Carol7777
Champion Author Houston

Posts:116,866
Points:988,120
Joined:Dec 2012
Message Posted: Feb 18, 2013 11:14:08 PM

I'd call it a SCAM, not a sham.
TheSnowstorm
Champion Author Montreal

Posts:9,677
Points:2,580,560
Joined:June 2005
Message Posted: Feb 18, 2013 11:10:19 PM

The right hand no longer knows who or what the left is screwing over, much less if it itself is being screwed.
mcmonsta
Champion Author Honolulu

Posts:6,329
Points:1,641,225
Joined:Sep 2009
Message Posted: Feb 18, 2013 11:08:44 PM

and who controls the Brent crude pricing....
cifuentesab
Champion Author Sacramento

Posts:3,729
Points:1,320,575
Joined:Jul 2011
Message Posted: Feb 18, 2013 11:07:04 PM

Sad state
flyfast
Champion Author Kansas City

Posts:12,570
Points:2,657,025
Joined:Jan 2008
Message Posted: Feb 18, 2013 11:01:48 PM

what toooo doooo
Lukus
Champion Author Halifax

Posts:11,504
Points:2,462,890
Joined:Nov 2007
Message Posted: Feb 18, 2013 11:01:37 PM

ok
abcdMA
Champion Author Worcester

Posts:11,263
Points:2,375,690
Joined:Nov 2008
Message Posted: Feb 18, 2013 10:59:36 PM

Interesting
wayoung56
Champion Author Alabama

Posts:6,051
Points:1,633,685
Joined:Oct 2006
Message Posted: Feb 18, 2013 10:58:18 PM

So what is the English explanation???
30mpg80
Champion Author Lexington

Posts:15,355
Points:2,323,170
Joined:Nov 2008
Message Posted: Feb 18, 2013 10:58:03 PM

The speculators are reaching into the pockets all gasoline and diesel buyers and stealing billions of dollars!
bvrbill
Champion Author Eugene

Posts:8,444
Points:1,356,350
Joined:Jul 2011
Message Posted: Feb 18, 2013 10:54:38 PM

The energy market ia a big scam.
badharley
Champion Author Tampa

Posts:2,830
Points:1,119,415
Joined:Jul 2010
Message Posted: Feb 18, 2013 10:51:51 PM

Just more confusion.
mstearno
Champion Author Dayton

Posts:9,694
Points:2,377,135
Joined:Jan 2008
Message Posted: Feb 18, 2013 10:50:58 PM

really?
abacus44
Champion Author Toms River

Posts:6,671
Points:1,570,730
Joined:Jan 2011
Message Posted: Feb 18, 2013 10:49:17 PM

OK
keo
Champion Author Colorado

Posts:13,509
Points:2,849,100
Joined:May 2004
Message Posted: Feb 18, 2013 10:49:03 PM

What isn't ?
jorod55
Champion Author California

Posts:4,867
Points:1,256,980
Joined:Dec 2011
Message Posted: Feb 18, 2013 10:48:08 PM

So where is enforcement?
walkingtall
Champion Author Toronto

Posts:7,225
Points:1,919,080
Joined:Nov 2004
Message Posted: Feb 18, 2013 10:44:20 PM

The brent oil contract is a sham and more attention needs to be paid to these contacts.
DeeLA
Champion Author Los Angeles

Posts:8,101
Points:2,166,135
Joined:Nov 2008
Message Posted: Feb 18, 2013 10:43:00 PM

Interesting.
Post a reply Back to Topics