Posted on 01/15/2009 9:40:19 PM PST by TigerLikesRooster
OK, but that isn't what you said before.
I both bought and sold a future delivery
When they quote the price of oil on the news, it isn't the spot market (immediate delivery) it is the next month delivery.
It does help to pay attention to what they are discussing, Light Sweet, Brent, WTI, etc. You also do need to look to see if they are discussing front month futures, spot, or something else.
Change that to next month instead of immediate.
Still the type of transaction.
It does help to pay attention to what they are discussing...
Unless otherwise specified, when the main stream media talks about the price of oil, they are talking about the price for the next months futures contract for WTI on the NYMEX.
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