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APS Review Oil Market Trends, Sept 29, 2008
Just to compare: On Sept. 29, 2006, November paper WTI ended the week up 15 cents at $62.91/b - down from $78.40 on July 14. It was up 4.4% for that week. November Brent on the ICE futures exchange then was up 1 cent at $62.55/b. Front-month unleaded gasoline rose 4.81 cents to $1.5492/g and reformulated gasoline blendstock (RBOB) gained 98 points to $1.57/g.
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But the contango for WTI on NYMEX then was impressive: December WTI at $65.05, January 07 at $65.05, January 08 at $69.05, January 2010 at $66.64, January 2011 at $64.86, and January 2012 at $64.86 (see the background in omt14TurkmExptOct2-06).
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