Tag: financial markets

Oil, Oil, Who Wants Some Oil? Part 4: The Brent Crude Complex

by Sean Field and Mette M. High

When West Texas Intermediate (WTI) crude oil plummeted to a closing price of –US $37.63 on 20 April 2020, the spot price of Brent crude oil only fell to US $17.36. This striking price difference between these two rival crude oil benchmarks highlights important dynamics that pertain to not only the supply and demand of oil, but also the social construction of futures markets.

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Oil, Oil, Who Wants Some Oil? Part 3: Anticipating the Future and Financializing Oil

by Mette M. High and Sean Field

When the COVID-19 pandemic struck, demand for crude oil fell suddenly. The pandemic exposed the logistics and storage constraints of the US landlocked oil infrastructure that was oversupplied by domestic and imported crude. But it also raised fundamental questions about the role and importance of financial trading on the futures market.

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