2001 to 2015
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| WTI $/barrel 2001 - 2015 |
West Texas Intermediate for delivery @ Cushing OK
2006 to 2015
West Texas Intermediate for delivery @ Cushing OK
2011 to 2015
West Texas Intermediate for delivery @ Cushing OK
2014 to 2015
Showing posts with label commodities. Show all posts
Showing posts with label commodities. Show all posts
Sunday, January 2, 2011
Oil Price History - Cushing Futures, NYMEX Weekly Close
West Texas Intermediate for delivery @ Cushing OK
2001 to 2015
West Texas Intermediate for delivery @ Cushing OK
2006 to 2015
West Texas Intermediate for delivery @ Cushing OK
2011 to 2015
West Texas Intermediate for delivery @ Cushing OK
2014 to 2015
2001 to 2015
West Texas Intermediate for delivery @ Cushing OK
2006 to 2015
West Texas Intermediate for delivery @ Cushing OK
2011 to 2015
West Texas Intermediate for delivery @ Cushing OK
2014 to 2015
Friday, December 31, 2010
Tuesday, November 9, 2010
GlenCore - Xstrata - March Rich - Pincus Green - Ivan Glasenberg
Bloomberg BusinessWeek article on GlenCore
---
2011/02/28
Reuters: Glencore primes analysts as IPO talk heats up:
Glencore GLEN.UL, the world's largest commodities trader, is briefing analysts ahead of a possible flotation that could be one of the biggest listings ever seen in London, sources familiar with the situation said.
If it goes ahead, an initial public offering (IPO) of Glencore could value the company at as much as $60 billion, according to Liberum Capital estimates.
2011/03/02
Reuters: Special report: The biggest company you never heard of
In the world of physical trading -- buying, transporting and selling the basic stuff the world needs -- Glencore is omnipresent and controversial, just as Goldman is in banking. Bigger than Nestle, Novartis and UBS in terms of revenues, Glencore's network of 2,000 traders, lawyers, accountants and other staff in 40 countries gives it real-time market and political intelligence on everything from oil markets in Central Asia to what sugar's doing in southeast Asia. Young, arrogant, and often brilliant, its staff dominate their market. The firm's top executives have forged alliances with Russian oligarchs and well-connected African mining magnates. Like Goldman, Glencore uses its considerable heft to extract the best possible terms in every deal it does.
Some might add that Glencore also fits the description that Rolling Stone magazine gave to Goldman: "a great vampire squid wrapped around the face of humanity".
Sometime in the coming weeks, Glencore is likely to announce its Initial Public Offering. The firm currently operates as a privately held partnership, with staff sharing the profits according to a performance-based incentives scheme. Sources familiar with Glencore's plans say it may list 20 percent of the company, possibly split between the London Stock Exchange and Hong Kong. Such a listing could yield up to $16 billion and value the firm at as much as $60 billion.
...
UNDER THE RADAR
Nestling in a lakeside village in Switzerland's low-tax canton of Zug, Glencore's starkly modern headquarters reflect a culture where trading aggression is coupled with public discretion. In front of the building a simple concrete sculpture -- A SPHERE SPINNING ATOP A PYRAMID -- hints at Glencore's global reach
---
Articles
South African Mail & Guardian article at time of IPO
Of Belgian birth, Marc Rich renounced American citizenship, and currently holds Israeli and Spanish passports, with his primary residency being in Switzerland.
He is the subject of a recent biography - The King of Oil - by Daniel Amman.
He broke away from his first employer, dominant trading company Phillips Brothers, taking fellow trader Pincus Green with him, to form what ultimately became the commodities trading group March Rich & Co.
Under Rich & Greens' stewardship, the good ship March Rich & Co sailed from war torn port to war torn port, magicking money from chaos - trading with a host of ill-favoured regimes & tyrants to obtain the life bloods of industry.
Protracted legal assault by an American government intent on obtaining its pound of flesh from his activities resulted initially in Rich's swift and permanent relocation to the exquisite environs of Zug Switzerland, and ultimately in his apparently abandoning direct control of his operation, largely selling out to his former partners.
Bill Clinton delivered presidential pardons to both Rich and Green as one of his final acts of office. Much subsequent analysis credits Rich's relationship within Israeli intelligence as having been an important fulcrum on which to lever the pardons.
Glencore
Notable amongst the spawn of Marc Rich and Co. is Glencore - which is owned and managed by former partners Ivan Glasenberg & Willy Strotthotte. Glencore effectively controls mining company Xstrata, and is most likely the largest broker of oil trades in the world today.
Marc Rich and Pincus Green can be regarded as being instrumental in the development of the spot market for crude oil.
Ivan Glasenberg - Glencore
TheBigPond
RSA MiningMX
FinancialMail Profile
123 People Profile
Wikipedia
Official XStrata corporate profile
Forbes Profile
---
2011/02/28
Reuters: Glencore primes analysts as IPO talk heats up:
Glencore GLEN.UL, the world's largest commodities trader, is briefing analysts ahead of a possible flotation that could be one of the biggest listings ever seen in London, sources familiar with the situation said.
If it goes ahead, an initial public offering (IPO) of Glencore could value the company at as much as $60 billion, according to Liberum Capital estimates.
2011/03/02
Reuters: Special report: The biggest company you never heard of
In the world of physical trading -- buying, transporting and selling the basic stuff the world needs -- Glencore is omnipresent and controversial, just as Goldman is in banking. Bigger than Nestle, Novartis and UBS in terms of revenues, Glencore's network of 2,000 traders, lawyers, accountants and other staff in 40 countries gives it real-time market and political intelligence on everything from oil markets in Central Asia to what sugar's doing in southeast Asia. Young, arrogant, and often brilliant, its staff dominate their market. The firm's top executives have forged alliances with Russian oligarchs and well-connected African mining magnates. Like Goldman, Glencore uses its considerable heft to extract the best possible terms in every deal it does.
Some might add that Glencore also fits the description that Rolling Stone magazine gave to Goldman: "a great vampire squid wrapped around the face of humanity".
Sometime in the coming weeks, Glencore is likely to announce its Initial Public Offering. The firm currently operates as a privately held partnership, with staff sharing the profits according to a performance-based incentives scheme. Sources familiar with Glencore's plans say it may list 20 percent of the company, possibly split between the London Stock Exchange and Hong Kong. Such a listing could yield up to $16 billion and value the firm at as much as $60 billion.
...
UNDER THE RADAR
Nestling in a lakeside village in Switzerland's low-tax canton of Zug, Glencore's starkly modern headquarters reflect a culture where trading aggression is coupled with public discretion. In front of the building a simple concrete sculpture -- A SPHERE SPINNING ATOP A PYRAMID -- hints at Glencore's global reach
---
Articles
South African Mail & Guardian article at time of IPO
Thursday, November 4, 2010
S&P GSCI Index
Formerly the Goldman-Sachs commodity index (GSCI), now the S&P GSCI.
Blurb from the Official Site
"The S&P GSCI® is widely recognized as a leading measure of general price movements and inflation in the world economy. It provides investors with a reliable and publicly available benchmark for investment performance in the commodity markets, and is designed to be a “tradable” index. The index is calculated primarily on a world production-weighted basis and is comprised of the principal physical commodities that are the subject of active, liquid futures markets."
Bloomberg, Nov 4 2010 - The S&P GSCI index of 24 commodities climbed to the highest level since October 2008.
Blurb from the Official Site
"The S&P GSCI® is widely recognized as a leading measure of general price movements and inflation in the world economy. It provides investors with a reliable and publicly available benchmark for investment performance in the commodity markets, and is designed to be a “tradable” index. The index is calculated primarily on a world production-weighted basis and is comprised of the principal physical commodities that are the subject of active, liquid futures markets."
Bloomberg, Nov 4 2010 - The S&P GSCI index of 24 commodities climbed to the highest level since October 2008.
Friday, June 4, 2010
Tuesday, October 27, 2009
NYMEX Light, Sweet Crude Oil Futures
NYMEX Contract Spec
NYMEX crude is physically delivered at Cushing OK (Oklahoma), via the network connected thereto.
daily data 1983-2009 [US Energy Information Administration]
NYMEX crude is physically delivered at Cushing OK (Oklahoma), via the network connected thereto.
daily data 1983-2009 [US Energy Information Administration]
Monday, October 5, 2009
CBOE - Chicago Board Options Exchange
WikiPedia Entry:
"The Chicago Board Options Exchange (abbreviated CBOE, but commonly pronounced see-bo), located at 400 South LaSalle Street in Chicago, is the largest U.S. options exchange with annual trading volume that hovered around one billion contracts at the end of 2007.[1] CBOE offers options on over 2,200 companies, 22 stock indexes, and 140 exchange-traded funds (ETFs)."
HomePage
"The Chicago Board Options Exchange (abbreviated CBOE, but commonly pronounced see-bo), located at 400 South LaSalle Street in Chicago, is the largest U.S. options exchange with annual trading volume that hovered around one billion contracts at the end of 2007.[1] CBOE offers options on over 2,200 companies, 22 stock indexes, and 140 exchange-traded funds (ETFs)."
HomePage
Wednesday, September 16, 2009
alleged gold market manipulation by goldman-sachs
SEEKING ALPHA
"There is no other leveraged commodity market where short sellers increase their positions, materially, as the price rises, and increase them even more when prices are exploding, except gold and silver. The reason traders don’t normally do that is that it exposes short sellers to unlimited liability and risk. Yet, in both March and July 2008, and on countless occasions over the past 21 years, vast numbers of new gold and silver short positions were temporarily opened up, with the position holders seemingly unconcerned about the fact that precious metals had just risen exponentially, and that there was a very real potential they would bankrupt themselves with unlimited upside potential. Normal traders would not expose themselves to such unlimited risks.
I conclude, therefore, that over the last 21 years or so, “fake” precious metals supply in the form of promises of future delivery have habitually been increased when prices increase until increased “supply” managed to overwhelm increased demand, leading to a temporary price collapse. This is compounded by the fact that the futures prices on COMEX tend to dictate the “official” report price for the precious metals elsewhere."
article
---
Interestingly, gold's recent breaking through of the USD 1000 mark is followed by an announcement by the IMF that it plans to sell gold equal to 1/8 of it's total reserves.
IOL Article 2009-09-21
"There is no other leveraged commodity market where short sellers increase their positions, materially, as the price rises, and increase them even more when prices are exploding, except gold and silver. The reason traders don’t normally do that is that it exposes short sellers to unlimited liability and risk. Yet, in both March and July 2008, and on countless occasions over the past 21 years, vast numbers of new gold and silver short positions were temporarily opened up, with the position holders seemingly unconcerned about the fact that precious metals had just risen exponentially, and that there was a very real potential they would bankrupt themselves with unlimited upside potential. Normal traders would not expose themselves to such unlimited risks.
I conclude, therefore, that over the last 21 years or so, “fake” precious metals supply in the form of promises of future delivery have habitually been increased when prices increase until increased “supply” managed to overwhelm increased demand, leading to a temporary price collapse. This is compounded by the fact that the futures prices on COMEX tend to dictate the “official” report price for the precious metals elsewhere."
article
---
Interestingly, gold's recent breaking through of the USD 1000 mark is followed by an announcement by the IMF that it plans to sell gold equal to 1/8 of it's total reserves.
IOL Article 2009-09-21
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