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What do you mean by 'conspiracy?" Oil bourses trade in dollars

• olivermarks 8y ago
  Iran in the crosshairs https://en.wikipedia.org/wiki/Iranian_oil_bourse https://en.wikipedia.org/wiki/Iranian_oil_bourse
• JumpCrisscross 8y ago
  > What do you mean by 'conspiracy?" The United States did not invade Iraq because it was threatening to switch to Euros. If anything, American banks would have been thrilled at the prospect of new FX revenues. > Oil bourses trade in dollars Oil bourses? Oil futures are mostly traded on exchanges, but oil the commodity is mostly traded over the counter. It's privately negotiated. Those private negotiations reference whatever they want to, whether Brent in USD, Brent in EUR, WTI in USD, COM in JPY, et cetera.
  • olivermarks 8y ago
    Right. 'In the case of crude oil, the main futures exchanges are the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE) where West Texas Intermediate (WTI) and North Sea Brent crude oil are traded respectively. These exchanges trade what is referred to as 'light- sweet' crude oil and a single contract, or 'lot', calls for the purchase or sale of 1,000 barrels of oil. Traders can buy and sell oil for delivery several months or years ahead' https://www.telegraph.co.uk/finance/newsbysector/energy/2790647/Oil-price-QandA-What-are-oil-futures-and-how-are-they-traded.html https://www.telegraph.co.uk/finance/newsbysector/energy/2790...
• acct1771 8y ago
  The term they were looking for was "conspiracy theory", arguably one of the most important colloquial mistakes to correct when talking "cloak and dagger" politics.