How the spot market for Brent crude works

Journal Article · Tue Apr 01 00:00:00 EST 1986 · World Oil; (United States)

OSTI ID:5909760

Nasmyth, J; Binks, A

While terms like paper barrel, forward position and daisy chain are bandied about in the media, few understand the Brent forward market, which last year handled 1.5 billion bbl of oil. The market has no address, no rule book and no clearing house. Anyone with $18 million and a gambler's instinct can play. Immense personal fortunes have been made and lost on paper barrels, but the market survives as a means of limiting risk and tax liability for North Sea producers.

• Research Organization: Petroleum Argus, London
• OSTI ID: 5909760
• Journal Information: World Oil; (United States), Vol. 202:4
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
POLICY AND ECONOMY
NORTH SEA
PETROLEUM DEPOSITS
PETROLEUM
SPOT MARKET
INVESTMENT
SUPPLY AND DEMAND
TAXES
ATLANTIC OCEAN
ENERGY SOURCES
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
MARKET
MINERAL RESOURCES
RESOURCES
SEAS
SURFACE WATERS
020700* - Petroleum- Economics
Industrial
& Business Aspects
294002 - Energy Planning & Policy- Petroleum
292000 - Energy Planning & Policy- Supply
Demand & Forecasting