why is it called "sweet" oil?

does it really taste sweet?
just curious.

 

The sulfur content. The higher the amount of sulfur the harder it is to refine. And yes they used to taste and smell it to judge the sulfur content.

5yr

 

yes and back in the days it was used as salad dressing straight out of the ground before automobiles. back in the 1600s

but now its worth more to be refined for fuel than as a salad oil.

 

1) Do you really want to find out?
2) "Sweet" crude oil has less sulphur.
3) "Sour" crude oil has more.

 

It is called sweet crude because its so sweet when you're using your crude money loving savvy to make large amounts of money every day (CL) and fortunes on a fast day. Entitlement here, is open to any ET member who wants to play.

So today, Feb 24 2011. There were 19 gyrations; thats 38 swings at a mean average of 79 points per swing (minimum 40 points counted per swing). A total maximum of 3022 points were made available to all players, open to close.

 

The sulfur content. The higher the amount of sulfur the harder it is to refine. And yes they used to taste and smell it to judge the sulfur content.
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Correct. The well's we drill via Dpps in South Texas are Texas Light Sweet crude. It is easer to refine as well.

Brent is thicker and harder to refine.

Same with Shale....oil found in Shale.

Oil and Gas come together......as well.

Sometimes there is very little oil and it turns out to be a gas well, other times far more OIL, just flair off the gas...and sometimes you hit both. And many times you find nothing but water!

 

Today was sick. How did you make out?

 

Amusement aside, Energy is the most idiosyncratic market known to mankind.

The terminology, the way they quote spreads, the conventions are just so localized and apart from fixed income, grains, metals, equities and the rest.

 

If Brent is thicker and harder to refine, why does it cost more that WTIC?

 

Routine - but with an exception.

Tuesday CL gave you about 2 to 2 and half times the intraday swings which currently you would expect. Today (Thursday Feb 24) gave you 3 to 4 times the swings you would normally expect (2011).

So instead of a slower chart you rely on your fast chart (or in my case 2 fast charts - time and volume). You still have your on-chart indicators on board for your buy and sell triggers. You can still check against your slower charts for direction continuation.

I can see that there might be a problem for less assured amateur players; faster play blows their fuse - psychologically. But it can be resolved. Sit back and collect your senses. All that is happening is that the swings are coming at you faster.