Hi everyone, I am pretty new to commodity trading, will hope to learn more from the people here. A few questions that I have are, im getting abit confused with the quotes for oil, am I right to say that the quotes for WTI crude oil is CL, while the the quote for brent crude is CO? Most of the financial websites that I checked with like bloomberg, they offer the futures price of the oil contract, is there any website which I can check the spot price of brent crude and crude oil as well?
Welcome to commodities. Here's a primer. https://www.jmbullion.com/investing-guide/pricing-payments/spot-prices/
Thanks alot Overnight & daniel5198, so when people are talking about oil spot price, most of the time they are refering to the front month price of the oil. One question though, why does most of the people trade CL the crude oil listed in nymex instead of brent crude CO which is listed in ICE? And I also realised that most of the out month futures after year 2018 does not have open or closing price except for Jun and Dec contracts, is this because most hedgers take deliverly on this two months?
Only look CME website for CME products to get information. http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_contract_specifications.html
.... That statement may or may not have merit. I have no experience with the ICE. I do know that I do not like the ICE monthly fee to be able to trade Brent. Nymex is much less expensive. Good question. You'd have to ask physical commodity traders for a clear answer to that poser.
%% Front month; True for most Traders, KAS,some look @ DEC.....barchart.com has plenty of info on brent + TX Tea.Actually i think most trade/invest in brent, United Kingdom. BUT in USa; WTI, TX TEA, CL has much better volume>>>>>>>>>>>>>>>>>>>>>>>. I remember reading in MODERN TRADER mag, CME gives fund managers a break on WTI commissions, much to ICE dismay LOL Always double check every data.Wisdom is profitable to direct