Friday, August 13, 2004

Live Market Quotes: Watching that crude cutie. Drilling for OIL with Faulkner Corn

Light Sweet Crude Oil

Delayed 30 minutes

As of May 1, 2003, we have added Light Sweet Crude Oil to our list of Indicators

Crude oil is the world's most actively traded commodity. Over the past decade, the NYMEX Division light, sweet (low-sulfur) crude oil futures contract has become the world's most liquid forum for crude oil trading, as well as the world's largest-volume futures contract trading on a physical commodity. Because of its excellent liquidity and price transparency, the contract is used as a principal international pricing benchmark.

The contract's delivery point is Cushing, Oklahoma, the nexus of spot market trading in the United States, which is also accessible to the international spot markets via pipelines. By providing for delivery of several grades of domestic and internationally traded foreign crudes, the futures contract is designed to serve the diverse needs of the physical market.

Light, sweet crudes are preferred by refiners because of their relatively high yields of high-value products such as gasoline, diesel fuel, heating oil, and jet fuel.

Live Market Quotes

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