There's a rather good web site called bullionvault.com that enables people to buy and sell gold. Is there anything similar for crude oil? I'd like to buy and sell crude oil as a means of accumulating wealth, but I don't want to use spread betting or any other leveraged device as large price changes might result in me being 'stopped-out'. Furthermore, I'd prefer to avoid contracts with expiry dates. I want to just buy crude oil and hold it indefinitely until such time as I want to sell it again, the same way that Bullion Vault enables clients to do with gold.
Is there anything like Bullion Vault, but for crude oil?
Buy a big tank and fill it with oil in your cellar . The oil you get from your neighbours
tank with a oilpump . Wait until your neighbours tank is empty .
Then you sell the oil from your tank for low price to your neighbour ......
He will love you and say : he is my best friend ....
:cheesy:
easy ways to make money ... ask me I teach you
tank with a oilpump . Wait until your neighbours tank is empty .
Then you sell the oil from your tank for low price to your neighbour ......
He will love you and say : he is my best friend ....
:cheesy:easy ways to make money ... ask me I teach you
arabianights
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Nope, the oil will degrade.
How much do you want to buy? There are ETFs that track it, but they are imperfect for a variety of interesting reasons, especially the one that sits in the spot month.
How much do you want to buy? There are ETFs that track it, but they are imperfect for a variety of interesting reasons, especially the one that sits in the spot month.
Basically I want to put about £5,000 somewhere that it will increase in value at the same rate as crude oil. I've read about ETFs but I'm not keen, mainly for the following reason... http://www.businessweek.com/magazine/content/10_31/b4189050970461_page_5.htm
arabianights
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five grand is never gonna track it perfectly. Even aside the rounding errors etc you probably are best sticking in an etf.
shadowninja
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I think someone should set up a site as you suggest. They could call it Crude Bucket. Which, incidentally, is what I call one of my exes.
