Some confusion on crude oil

Discussion in 'Energy Futures' started by newguy05, Jun 15, 2008.

  1. Hi,

    1) What's the difference between QM and CL futures contracts? they are both quoted to be the same price. Which one is better for options trading?

    2) Given the saudi increase production news over the weekend, why isnt oil dropping like a rock? On IB, both QM and CL are only down about -0.35%

    thanks
     
  2. 1) mini & full
    2) Did he say that they found eternal supply of oil? Nope.
     
  3. increase production by half a million barrel per day is pretty significant, no?
     
  4. I dunno, you tell me :)
     
  5. bkveen3

    bkveen3

    An increase in supply and no response from the market is further evidence of a speculator driven market. Even if it was a barrel per day increase news that countries have more to produce should have effected the price.
     
  6. I believe in GS and JPM who can push oil all the way to 150; anyone try to stop them will be ridiculed with mass loss on their balance sheet.


    Instead increasing oil production; the best way Saudi should do is selling US treasury at massive scale; and drive the yield to high 10s; then oil price will fall; :D Maybe in next year.
     
  7. This was already floating in the news last week, it's baked in
     
  8. Pekelo

    Pekelo

    Worldwide that is only a bit more than .5%

    Let's say your dick gets longer by 0.5%, would your wife or girlfriend notice? :)
     

  9. LOL
     
  10. i traded that news friday. came out like 6am friday. now from what i was reading in the WSJ only looks like 200k barrels. the other 300k are from the production increase last month when bush came to visit. im no oil trader (im not even a decent equity trader 1/2 the time) but would think that would make oil prices higher monday. here is the article.

    http://online.wsj.com/article/SB121355902769475555.html?mod=hpp_us_whats_news
     
    #10     Jun 15, 2008