http://www.creditwritedowns.com/2008/12/glencore-credit-default-swaps-suggest-something-amiss.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 http://www.creditwritedowns.com/2008/12/glencore-credit-default-swaps-suggest-something-amiss.html#comment-1400 Edward Harrison Fri, 19 Dec 2008 20:15:52 +0000 http://www.creditwritedowns.com/?p=2606#comment-1400 Definitely, I would agree. I mentioned this on another post, but the word on the street is that Glencore has a huge long position in WTI forward contracts and that explains the huge differential that has opened between WTI and Brent crude. As I right this WTI has plummeted to 33 while Brent is still at $44. Something is definitely wrong there. Whether its Glencore or something else, but this can't go on much longer. Definitely, I would agree. I mentioned this on another post, but the word on the street is that Glencore has a huge long position in WTI forward contracts and that explains the huge differential that has opened between WTI and Brent crude. As I right this WTI has plummeted to 33 while Brent is still at $44. Something is definitely wrong there. Whether its Glencore or something else, but this can’t go on much longer.

]]> http://www.creditwritedowns.com/2008/12/glencore-credit-default-swaps-suggest-something-amiss.html#comment-1399 AT in San Diego Fri, 19 Dec 2008 17:09:10 +0000 http://www.creditwritedowns.com/?p=2606#comment-1399 And that doesn't even mention Glencore's 70% stake in Australia's Minara Resources, now trading at a whopping 29 cents a share. And on Wednesday Glencore announced the merger of certain Credit-Suisse trading businesses into the Glencore machine. Something is rotten in Switzerland... And that doesn’t even mention Glencore’s 70% stake in Australia’s Minara Resources, now trading at a whopping 29 cents a share. And on Wednesday Glencore announced the merger of certain Credit-Suisse trading businesses into the Glencore machine. Something is rotten in Switzerland…

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