Oil is a fungible commodity
8 Mar 2018 We're not at zero net imports, probably a meaningless goal in any case, given that crude oil is a fungible commodity, but booming domestic 26 Feb 2019 Oil is literally a liquid, fungible, and transportable commodity. The global market is designed to take a barrel of oil from the Ghawar oil field in 15 Nov 2016 “The US continues to be a very important part of a global industry that is interconnected, that is dealing with a fungible commodity which is age for three commodities: copper, heating oil, and lumber. I then examine the implica- tions of mogeneous and highly fungible commodities. This helps avoid Company profile for ICE Gas Oil LS (LF*1) including business summary, key statistics, oil futures contract calls for the delivery of 1,000 barrels of fungible No. comprehensive source of commodity and futures market information available. Oil is essentially a fungible commodity; it is more flexibly transported than gas ( notably by sea) and Turkey's role in this context is one that concerns the global
31 Jul 2019 Commodities are basic goods, from soybeans to oil. a basic good that is exchangeable (or fungible) with other commodities of the same kind.
27 Dec 2018 Oil, wheat, and lumber are fungible commodities, fungible goods, and capable of mutual substitution." According to the SEC in a statement of 16 Apr 2019 storage, and shipping vessels—will make liquified gas a more globally traded commodity. It may never be quite as fungible as crude oil, but 26 Jul 2005 China National Offshore Oil Corporation (Cnooc), which is largely owned by However, because oil is a fungible commodity in a world market, 31 Mar 2014 That said, crude oil is what economists call a fungible commodity. With some notable exceptions, a barrel is a barrel is a barrel. Petroleum 12 Apr 2010 Commodities markets are some of the oldest markets in the world. As a result, all barrels of oil or bags of coffee are not fungible (i.e., they are
4 Apr 2018 to get overlooked in such discussions: oil is a fungible commodity traded in a global market. Looking at regional market shares is not enough.
8 Oct 2019 Oil is fungible; data is non-fungible. Oil is a commodity, so, by definition, one barrel of oil of a given grade is equivalent to any other barrel of that
‘Sanctioned countries with exports that are fungible commodities and that are limited in supply (such as oil) feel very little effect from U.S. sanctions on their exports.’ ‘Green Tags function on the principle that electrical power is fungible - that is, one unit of it is identical in use to another, regardless of its source.’
26 Jul 2005 China National Offshore Oil Corporation (Cnooc), which is largely owned by However, because oil is a fungible commodity in a world market, 31 Mar 2014 That said, crude oil is what economists call a fungible commodity. With some notable exceptions, a barrel is a barrel is a barrel. Petroleum
27 Dec 2018 Oil, wheat, and lumber are fungible commodities, fungible goods, and capable of mutual substitution." According to the SEC in a statement of
Oil is fungible; data is non-fungible. Oil is a commodity, so, by definition, one barrel of oil of a given grade is equivalent to any other barrel of that grade. Data, on the other hand, is heterogeneous. Each person’s data is unique and may consist of a practically unlimited number of different attributes that can be collected into a profile. Other fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies. Fungibility refers only to the equivalence and indistinguishability of each unit of a commodity with other units of the same commodity and not to the exchange of one commodity for another, which is barter . In financial terms, oil is a “fungible” commodity, which means that specific grades of oil are identical for oil trading purposes, regardless of where they were produced. For example, a contract for 1,000 barrels of WTI crude will be exactly the same product whether the oil was extracted in Texas or North Dakota.
4 Apr 2018 to get overlooked in such discussions: oil is a fungible commodity traded in a global market. Looking at regional market shares is not enough. 26 Feb 2020 Benchmarks allow traders to do business, confident that, wherever the commodity in question originates, it will be interchangeable – “fungible”, in paradox and the fungibility of natural gas as compared to that of oil. II. DIESEL FUEL a fungible commodity similar to oil the United States would have to more. entangled to the economic process more than any other energy commodities. in the energy market are locked to the oil price (electricity, natural gas). or differential in labour costs and probably hints to the not-fungible role of oil in the.