Hey Everyone, Like many, I am watching oil noise dive again today. I am noticing that multiple brokers offering WTI Oil CFDs are quoting prices around $22 right now, but if you look at global spot prices you see them at $18 (Crude Oil WTI Cash Futures Price - Barchart.com). Any idea how the CFD’s spot price is determined and why it’s different from what the rest of the internet says spot prices are?
I’m noticing this as well. The broker price is significantly higher. Apparently wti has gone to zero yet FX pro UK are quoting it at 20-22 dollars. Why is this?
@Forex249, @rockywoof… SNAFU… Welcome to the OTC Markets…
Similar situation to Gold… REAL price is lower (~1605)… so watch for this to crash back down when the LP’s have a large enough short position in place… Smoke and Mirrors, Smoke and Mirrors…
The broker price is significantly higher
Surely then, the trick is to have a sell position when the brokers are offering it higher than what it is and it’s going to come down?
If brokers are offering this to sell at $20-22, they clearly don’t expect their quotes to have to come to 0.
@Forex249, @rockywoof… SNAFU No.2… Welcome to the OTC Markets…
(Below) Pepperstone (Aust.) XTIUSD 1 Hour Chart - $14.66/Barrel (5.15am UTC+10)
(Below) IC Markets (Aust.) XTIUSD 1 Hour Chart - $8.36/Barrel (5.15am UTC+10)
(Below) TradingView XTIUSD 1 Hour Chart - $12.74/Barrel (5.20am UTC+10)
Just a game people, just a game… Brokers will move prices wherever they want… Don’t let the Guru’s bullshite you and squeal Arbitrage… Smoke and Mirrors, Smoke and Mirrors…
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Those prices are all over the place!