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By mid-April, with low demand expected due to negative economic news, Brent fell to $103.04, its lowest price since July. [82] On July 10, oil prices were the highest in more than a year as a result of lower supplies and trouble in Egypt. In the past week, Brent had climbed 7% to $108.51.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982. OPEC appears to lose control over world oil prices. March: Damascus closes Iraq's 400,000 bbl/d (64,000 m 3 /d) trans-Syrian oil export pipeline to show support for Iran. March 11: U.S. boycotts Libyan crude. May 24:Iran recaptures Khorramshahr.
February 12: Data from the United States Energy Information Administration (EIA) show that U.S. commercial crude oil stocks have fallen to 269.8 million barrels (42,890,000 m 3) for the week ending February 7, 2003. This is the lowest commercial crude oil stock level since 1975, and just slightly below the lower operational inventory level of ...
Oil prices really moved up last year and at one point hit $147 a barrel. That has to be the fastest ascent in oil prices in history, right? Wrong -- at least not on a monthly basis. Oil's May ...
Five facts on how Israel, Ukraine, and Iran tensions affect global energy markets and American fuel prices.
The price of crude oil in 2003 traded in a range between $20–$30/bbl. [17] Between 2003 and July 2008, prices steadily rose, reaching $100/bbl in late 2007, coming close to the previous inflation-adjusted peak set in 1980.
With interest in energy trade growing in recent weeks, open interest in WTI futures on the New York Mercantile Exchange soared to 1.933 million contracts on Friday, the most since June 2023. "Oil ...