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Bloomberg WTI Crude Oil TR (BCOMCLTR)

Global Indexes
Currency in USD
210.53
0.00(0.00%)
Closed

Bloomberg WTI Crude Oil TR Discussions

Any  idea where this index would land once oil prices will reach $55/b?
1) 15 July they had meeting with investors to change ref. index. to "Bloomberg WTI Crude Oil Multi-Tenor Excess Return Index" (Ticker: BCLMTER) 2) If index remain this one, with 55$ barrel (i dont see this price for a long time though ...) index would be approx 110USD if no serious contango or other disrupting events occurs ...
why is this index only 83$? 1.3.2020 when wti was 41$ BCOMCLTR was 130$
Asking questions like this, u should not invest in this product.
You never heard about Contango?
yep....seems heavy Contango!
Where can i find the composition and proportions of this index? i cant find it anywhere.
Interested too if you've found it! I don't like the lack of reaction of this index when the WTI rises...
go to :  https://data.bloomberglp.com/indices/sites/2/2017/10/BCOM_methodology_20171013.pdf and search for BCOMCLTR then you can find calculations etc
Where can i find the composition of this indewx, i cant fint it.
mission accomplished XD back to 80
What are the underlying WTI contracts of this index?
atm the leading one is September
  how did you respond to this question BEFORE he even asked it? are these dates/times local to the user?
pro badge
Can anybody share why there is no price update today? Thanks
Markets are closed in the US & UK this Monday
Maybe you want to have a look at total daily Flight: flightradar24.com/data/statistics
You think it makes such a big impact?
still on track to hit 80 by early June XD patience folks
In Mike we trust! :)
 Miguel how u feeling so far? XD
Don't say a word.  Keep Calm.
b....
I am not an expert either, but I am trying to undestand why this index seems have took all the loss of feb-march and almost nothing the gain of april-may. To me at the moment it looks more complex to than trade directly on CFD
I think I found the "problem" and posted a plot on an old twitter account: https://twitter.com/NoUseForACoin/status/1261762083605090304?s=20 Again I'm not an expert on this but it seems like the April roll to the July contracts is causing it. These were trading roughly 30% higher. What puzzles me is that BCOMCLTR only reacts to this way after the roll.
so when do you think it will recover ?
It will probably not recover that 30%, at least not easily. As you can see the July futures are pretty close to the September ones. So in order to make up for that loss we would need a situation where during the roll the price of the futures we are rolling into is 30% lower than the spot/front month price. I believe this is called backwardation. Besides sliding oil prices (and this of course is not good for our investment) this could happen due to an abrupt non-anticipated (else it’s in the future future prices already) supply shortage so e.g. demand  picking up faster than anticipated, a lot of shale drillers either out of business or their shut down wells are not easily started up again..  Else, we will probably keep moving again with the front month/spot. If you invested in April (like I did) your effective position is around 30% higher than you thought at the time of buying if you used spot/front month prices as reference. Still, some good profits to be made.
For anyone confused about why this is moving so slow: This subindex (!) is only 30% Nymex WTI Crude. The rest is composed of other commodities. If you compare this to the Bloomberg Commodities Index, you can see that they almost 100% correlate. You can google (some confidential) documents by searching for the name of the index and "methodology". Also, the index is supposed to track 2 months in advance but has different rolling schemes in the event of market disruptions. Details I couldn't figure out as it's quite dense information. Also, rebalancing is done yearly but the way this thing moves it really smells of more frequent rebalances, maybe part of the future tracking scheme.  Bottom line: Do not invest in this if you want to speculate on oil right now. For those who bought at the low levels: This will keep going up slower than other indices so you will require some patience.
Statement on roll schedule: "Bloomberg will advance the roll of the WTI July contract to the WTI September contract during the standard BCOM May roll schedule, over five business days, beginning May 7th, 2020. There was broad support for this approach, in the interest of avoiding negative levels."
Roll to September, one month before previus scheduled, wll make Crude Oil Etf gain less. But the Money industry do not care of our gain. They live on fee and commission.
Just compare nearest months to September. Just now Front Month +3.74, September +2.62. Nice web site :Google Nymex Crude Oil Prices, on the same chart, you can add different expiration. At least you can see how is going contango.
but this is not normal .. the more you go away from the current contract, the higher the price is. This was the case since 3 years, What happened with corona, made ppl scared to plan for the future and thus the difference in the price between today contract and next year contract is only 3 Dollars which was not the case for the past 3 years. I believe with time, future contracts will be higher, and etf prices would be adjusted. We just need time, so you have to be a mid/long term trader
 Imad Zabalawi I am, but i also want my f...ing gain now : )
You won't notice bigger change in May due to rolling contract since current futures (July, September) are applied in June as well. In July the september future will be rolled for November.
no one understands what is happening ... everyone is explaining and saying wait, we wait and nothing happens ... Oil is flying and this index is sleeping
This ***ain't going anywhere :/
Or: Etfs hold very few contracts compared  to the market. Not big enougth to move it. And i begin to understand. Having enougth money is better trade the Future.
I totally agree with your view about the current price behaviour,but I would recommend to invest on an etf directly associated with futures price
can you suggest any product with direct association with futures' price?
Switching window from 8th to 14th May. So, today is the last. It seem a waste of time to look at this things.
when should we see the affect of the switching ?!?!
speculations on effects of API, OPEC and EIA reports today? API was quite negative expectations for the others? API caused less bear that I thought.
Imho good news are that contango is flattening and Volatility on Crude Oil (VOIL) is going down. These shuld be good sign for Long Positions.
I think that all is about contango/backwardation. Also it seem that they never use front month. On 24 April, Bloomberg Commodity Index (BCOM) published the result of “Consultation on Impact of Negative Commodity Prices” and announced the change of roll schedule for Bloomberg WTI Crude Oil Subindex.
Maybe a noob question, but around April 28th BCOMCLTR devaluated over 25% compared to “spot” or front month. I don’t have a good feel for negative roll yields in contango but >25% in a matter of days seems like a lot. Does anyone know if there is any chance of BCOMCLTR getting back to the factor 3.1-3.3 (BCOMCLTR/spot) that was the ratio before or that low 2’s is the new reality now?
so tomorrow's the last part of this transition -> let's see if this bounces back to 80 by early June
Hopefully!
Michael, is today The Day?? Let's hope!
I do not know why, but i am not optimistic :(
I don't if this can help: The benchmark for almost  Crude Oil Etf is the Bloomberg WTI Crude Oil TR. This index is going to  roll  from  July to September before  the 14th May.
 i don't know i hope it will rise over 70
Index rolls to September next month.
Wasn't aware of new roll schedule so don't take in consideration above. As others said the index rolls in September start of 7 May trough 18 May.
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