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Essay

Speculation In Oil & Gas Prices

Essay specific features

 

Issue:

Business

 

Written by:

Thomas C

 

Date added:

October 15, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

10 / 2625

 

Was viewed:

2796 times

 

Rating of current essay:

 
Essay content:

It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price. How? First, the crucial role of the international oil exchanges in London and New York is crucial to the game. Nymex in New York and the ICE Futures in London today control global benchmark oil prices which in turn set most of the freely traded oil cargo...
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They do so via oil futures contracts on two grades of crude oil—West Texas Intermediate and North Sea Brent. A third rather new oil exchange, the Dubai Mercantile Exchange (DME), trading Dubai crude, is more or less a daughter of Nymex, with Nymex President, James Newsome, sitting on the board of DME and most key personnel British or American citizens...
displayed 300 characters

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