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West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).
x-axis: year, begins with 2000 y-axis: price of crude oil in dollars per barrel, West Texas Intermediate benchmark full year range: File:Crude oil price WTI EIA.svg Date
WTI crude oil futures settled at their lowest level since January 25 on Tuesday as energy prices continue to moderate.
On August 23 both jumped over 2 percent, Brent closing at $79.02 and WTI at $74.83. The U.S. Federal Reserve chair indicated rates were going down. [68] Closing of Libya oil fields caused oil to jump to the highest point in two weeks on August 26. However, oil fell later in the week and Brent ended the month at $78.80, down 2.4 percent, and WTI ...
Though WTI fell due to higher U.S. crude supplies, Brent reached the highest close since October on April 24 before falling to $74.35 the next day. Gasoline reached $2.84 nationally and $4.70 in parts of California, [ 101 ] [ 111 ] finally reaching $2.91 on May 4 after rising 67 cents during 2019, the most since 2011 during the same period.
Due to the recent global market correction, the Brent-WTI spread, which at times neared the $20 mark, has narrowed meaningfully. The two benchmarks traded at parity for much of the decade until ...
After Saudi Arabia promised further production cuts, WTI reached $51.28 on January 7 and Brent climbed as high as $54.90, the highest since before COVID-19. [36] On January 14, a weaker dollar and an expected COVID-19 relief package helped oil move slightly higher, with WTI at $53.57 and Brent at $56.42, though Europe was experiencing more lockdowns and China had a higher number of COVID-19 ...