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>Which brings up the topic of oil prices: there are many. Every blend, every location, has its own price. In fact the same oil can be sold at different prices i
by SilasX 7y ago
>Which brings up the topic of oil prices: there are many. Every blend, every location, has its own price. In fact the same oil can be sold at different prices if the seller so chooses.
True but largely irrelevant. WTI is a widely-cited benchmark because all those oil prices are highly correlated and so it's a good general measure.
- stevesimmons 7y agoHighly correlated, in normal market conditions!
- SilasX 7y agoAnd most abnormal ones. Even now they're correlated. And when e.g. one region has abnormalities, it doesn't really affect the purpose most people use this measure for.