Quote:
Originally Posted by legion
Hmmm...the spot market seems to be mostly ignoring this discovery.
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The spot market is typically minute by minute, day to day. Immediate.
Since this oil will take many years at least to show up on the market it shouldn't have any effect on the spot market at all IMO.
Now the long term futures market will eventually reflect the find, since speculators control it anyway. If they think the supply is going to go up in the future they might start bailing out or shorting, but even that might not happen for a while. They usually don't look more than 6 or 9 months ahead based on what I've seen.