May 8, 2013: After Bloomberg removed Bakken pricing, I was unable to find any source for Bakken pricing without a very expensive subscription. One can occasionally find updates at Clearbrook News.
A while ago one could get the spot price of Bakken light sweet at Clearbrook, Minnesota, and then that link was taken down by Bloomberg.
Until I find another or a better source, this is about the best I can do:
If I am reading the links correctly, this is what I get:
- From the first link, Bakken is pricing at a $2.25 premium to WTI.
- From the second link, WTI Cushing spot is $91.22.
Note to the Granddaughters
I've talked about this book before; I'm still reading it: Simon Winchester's Atlantic. Have you ever wondered where the "sterling" in sterling silver came from? I never gave it a thought. But here's the answer.
In the 13th century, merchants in northern German organized their Atlantic oceanic business to protect their trade in salt fish. The merchants formed themselves into what they called a Hanse -- after the Latin term hansa for a military troop or company; the immediate precursor to the Hanseatic League was created in 1241.
"Hansa" remains with us today: Lufthansa Airlines.
According to Winchester, in Atlantic, pp. 277 - 278:
London was a western outpost of the League. The Britons who did business with the Hansa found them trustworthy and reliable. According to many lexical authorities, the word that Londoners used for traders from the Hanseatic eastern cities -- easterlings -- became shortened and incorporated into the English language as the word sterling, with its implied meaning of solid reliability.
So, there you have it. Something for tomorrow evening's cocktail party.