24.03.2009 - How do you buy spot oil?
From Hardassetsinvestor.com: The price for a one-time open market transaction for immediate delivery of a specific quantity of product at a specific location where the commodity is purchased "on the spot" at current market rates. The spot price is relatively unimportant in global oil markets. Most refiners purchase oil with the help of long-term contracts, either one-off privately negotiated contracts or contracts from an exchange.....Full Article: Source
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