Brent crude's position as the accepted benchmark for pricing most of the world's oil is coming under fire, as experts in the oil market say the blend doesn't reflect true global supply and demand.
"There's a tug-of-war going on as to which one is going to be the ultimate benchmark," said Michael Sabo, senior commodities broker at RJO Futures.
"Traders feel a lot more comfortable with the quality in the contracts offered in Brent and WTI," Mr. Sabo said. "At some point other contracts might garner more attention, but from a retail standpoint, I have traders that talk about Brent, WTI and playing the spreads, but I don't get a lot of demand for the other contracts out there."
To read the full article with Michael's comments, please go to online.wsj.com.
Series 3 Licensed
Senior Commodities Broker
Mike was past president and co-founder of United Futures Trading Company, Inc., as well as Investment Analysis Group, Inc. In 2006 Mike joined Lind-Waldock as a senior market strategist. He joined RJO Futures in 2011..... Read More
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