"TAPIS over 53 yesterday, that close to 100NZD's. The spot oil price is a sham." dfl
Tapis price gets reset twice a week (Tues & Thurs's)and last night set a record for the spread to WTI with Tapis price at $54.14.....something like a massive $15 differential (regional demand variations). That's good for Tui producers.....high prices.......but Tapis then becomes attactive to other producers who may be attracted to this (Tapis)benchmark, meaning more competition, which in turn will push Tapis differential down. In summary....don't beleive the TV news if you want the real price of oil.......which in overall terms, and imho, is going up.
nzog up again, page-13
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