Markets continue to look buoyant in the UK as the effects of Oil and Mining bolster their respective sectors.
All the news on oil is bad and getting worse so the price just continues higher. Short term impacts are all bearish on supply and therefore bullish on price. At some point the pendulum will swing the other way but probably not today. New supply takes years not days. Whilst virtually all reserves are economically extractable at the current price not many producers will risk the vast costs involved on a short term price surge.
Crude Oil Spread Betting, 8 May 08
Crude Oil...err...is opening at the highs today...but who knows?
Crude Oil Spread Betting, 7 May 08
Crude Oil will do whatever...it is up 50 cents already this morning...
For a new Feature on Oil and the possible $200 mark read: Spread Betting on Crude Oil Prices and UBS.
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Crude Oil Spread Betting, 6 May 08
Markets today are likely to be on the up, initially, as crude oil and gold continue to bolster the Mining and Oil sector and, rather more cruelly, continue to squeeze those who have shorted the market. As mentioned last week the contraction of the FTSE over the previous weeks trading was a sure sign of a break out coming. That the break out was, on a probability basis, more likely to be to the upside than down. Clients continued to sell any price above 6100 and were unfortunately caught out by the sharp shift on Friday as the pre-bank holiday activity saw traders tighten the screw on anyone trying to set up shorts.
Crude Oil Spread Betting, 5 May 08
No comment from Simon today but looking at the crude oil spread betting market last week Crude Oil touched a new high on Monday as worries over disruption to supplies continued. But the stronger Dollar hit commodity prices, sending Brent Crude Oil a couple of Dollars lower on the week, at $114.56.
Crude Oil Spread Betting, 2 May 08
The mining sector could also provide support this morning with it benefiting from an upgrade by Goldman Sachs. However, after the initial positive start this morning, markets are expected to remain quiet ahead of the very important non-farm payroll figures due out from the US at 13h30 London time. 80,000 jobs are expected to have been lost in April, the same as in March and bulls will be hoping for a better figure than this. In the past, a better than expected result has often led to equity prices falling as investors worried that the economy was strong enough to warrant increases in interest rates. However this time round it’s slightly different as rises in interest rates are highly unlikely any time soon. Anything nearer the 0 mark for today’s non-farm payroll figure could cause a frenzy of buying in a US equity market that currently seems to be defying gravity. However, there is still risk to the US labour market with job losses over the past month having come from a range of industries including business, retail and in particular finance.
Crude Oil Spread Betting, 1 May 08
Crude Oil followed through the fall from $120 with another drop yesterday taking us to just above the $113 mark. However the open this morning is taking much of this back and the Nymex June contract is opening $1.20 higher with the Nymex spread at $114.55 - $114.61. US inventories showed a solid increase which helped the drop but actual fundamentals appear to mean very little at the moment in the scramble to secure future energy supplies.
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Crude Oil Spread Betting, 30 Apr 08
Mining stocks may be weaker on the off with BHP and Rio trading some 3% down in Australian markets. Oil is now all the way down at ‘just’ $113 for the June Brent Crude contract, some $4 from the highs, but I do not get the impression that this is a concerted sell off just yet. It is more probably along the lines of a pause for breath. If the weakness continues over a couple of days then we may find that the sentiment turns sharply but until this happens I am afraid that peak oil looks here to stay.
Crude Oil Spread Betting, 29 Apr 08
The markets today look to be going over the same ground as yesterday with the pound dropping back to yesterday mornings level around £1.9800 and Gold and Oil reversing some of the recent gains.
Crude Oil Spread Betting - BP update
Corporate results yesterday and this morning have rather flown in the face of perceived wisdom with retailers such as Game Group’s profits doubling (obviously the last thing to be cut out of consumer spending is Johnny’s new computer game) and BP (maybe not so startlingly) reporting a 63% increase in net revenue. BP and Shell have both struggled to turn the huge oil price rises into profit as most of the revenue earned from the actual sale of the Black Stuff goes into the coffers of the State from which the crude oil is extracted.
As the price goes up so the revenue share of the Oil company increases but only marginally. Also on the rise though are the costs of getting the stuff out of the ground and the taxes demanded by the Treasury. Therefore so the apparent embarrassment of riches never seems to actually arrive and BP’s share price is lower than at the start of the year.
BP’s numbers were struck when oil was at an average, for Q1 2008, of well below $100. Q2 will see (probably) an average substantially higher than this.
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Crude Oil Spread Betting, 28 Apr 08
With the Grangemouth problem reaching its zenith the price of Brent Crude Oil has spiked to $117.50 but this may be an example of ‘buy the rumour’-‘sell the fact’. Many factors are driving the price of oil higher but many of them are temporary, there is a good chance that there will be a spike move higher to take out weak shorts in the near future but that this may well indicate the highs.
Crude Oil Spread Betting, 25 Apr 08
Gold and Crude Oil have responded to the dollar strength and have retreated over the past few days (only a little in the case of Oil but significantly in Gold). There are considerable long positions still in many commodity markets and if the perception takes hold that the best has been seen then we could well see some really alarming price action in the coming months.
Crude Oil Spread Betting, 24 Apr 08
Gold and Oil appear to be on opposite tracks at the moment as one surges ever higher and the other continues to struggle to maintain value. In a resource hungry situation, as we have at the moment, the price of a product that requires continuous renewal (Oil, Softs etc) is likely to be far more attractive than one that for all intents and purposes is eternal (Gold, Silver etc).
Brent Crude Oil is now at $116.50 (another all time high) but we will need to get through the $116.70 level which has been something of a barrier for the last three days. There was an attempt at a small pull back yesterday, as there have been on odd occasions over the past three weeks, but once more the buyers beat off the weakness with some ease after the inventories number in the States disappointed.
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Crude Oil Spread Betting, 23 Apr 08
Crude Oil continues to power higher and with the news that the emerging economies have overtaken the US as the biggest users of the black stuff it is not hard to speculate that markets will take us ever higher.
It depends upon what you mean by free. If you're looking for a free Demo Account where you can practice spread trading see below.
Tax Free. If you are looking for a free spread betting platform then don't forget that in the UK spread betting is tax free*
You can also spread bet on Crude Oil and other Commodities commission free and with no brokers fees at:
Free Demo Account
If you're looking for a free Practice Account / Test Account where you can trial spread betting, including Commodities markets like Crude Oil, then you can you can always try:
Each of the above currently offers a free demo account.
How to Spread Bet on Crude Oil?
As with many markets, you can spread bet on the future value of commodities, like Crude Oil, rising or falling.
At the time of writing the Brent Crude Oil (December) market is $93.75 - $93.80 with FinancialSpreads.com. This market expires on 15-Nov-07.
Therefore you can trade on Brent Crude Oil settling:
Above $93.80 per barrel by 15-Nov-07, or
Below $93.75 per barrel by 15-Nov-07
It is important to note that with the Brent Crude market, you trade in £X per tick, where a tick is $0.01 of Crude Oil movement. Eg if your stake was £4 per tick and the Crude Oil price moves $0.08 (8 ticks) then that would be a £32 difference to your profit / loss.
Crude Oil Trading Example
So taking the above spread of $93.75 - $93.80, let’s say you think Crude Oil will finish above $93.80 per barrel on 15-Nov-07.
Therefore you buy at $93.80 for a stake of £2 per tick.
And so let's say that by the closing date the Oil markets settle at $97.82.
If so, your profit/loss is worked out by taking the difference between the settlement value of $97.82 and the value you bought the spread bet at, $93.80, and then multiplying that by the stake per tick.
Profit / loss = (($97.82 - $93.80) / $0.01) x £2 per tick stake.
= ($4.02 / $0.01) x £2 per tick stake.
(ie the price of Crude has increased by $4.02)
= £804 profit.
However if the market did not move as you
Loss = (($91.75 - $93.80) / $0.01) x £2 per tick stake.
= (-$2.05 / $0.01) x £2 per tick stake.
(ie the price of Crude has gone down by $2.05)
= -£410 loss.
Where can I Find Free Live Prices on Crude Oil?
If you want to access quick live market information then you could do worse than opening an account with a firm like Financial Spreads.
Also, you don't have to trade with them, if you just open an account (which is free to do) then their data is free. The catch? You'll get the odd email or letter from them. In the example below you can also see that their free charts are also useful.
As mentioned above, you can get free charts with spread betting companies like Financial Spreads.
You can alter the charts to see market data by the minute, by the hour, by the week etc, plus many other settings to help you analyse the charts.
As you can see the charts show how the market's are not perfect and how you can expect the prices to "gap".
FinancialSpreads.com also have another pretty handy tool in their free Demo account (mentioned above). You can open a Demo account and place demo trades whilst you practice with no risk or cost attached.
Where can I find Free Crude Oil Trading Platforms / Software?
Some of the trading firms offer software / trading platforms you have to download but most offer free web based platforms that allow easier access from home, the office and most other places with Internet Access.
The following also offer free live prices and charts:
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Crude Oil Spread Betting, sponsored by
FinancialSpreads.com.
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'Crude Oil Spread Betting' by DB, updated 09-May-08
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