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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 ...
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In commodity markets, oil slid to a fresh seven-month low. West Texas Intermediate crude oil tumbled 5.7% to settle at $82.32 per barrel, the lowest level since Jan. 13. Brent futures dropped 5.4% ...
However, that same day, West Texas Intermediate crude fell below $100 a barrel, the lowest since March 16. [7] This came after crude oil for June delivery reached $114.83 on May 2, the highest since September 2008, before closing at $97.18 on May 6, a day after dropping 9%, the most dramatic single-day drop in over two years.
Stock market news live updates: Stocks crater, Dow hits 2022 low, and oil plunges as Fed and growth fears roil markets ... In commodity markets, crude oil fell sharply, with West Texas ...
On August 23, oil fell slightly due to higher Libya output, while U.S. gasoline supplies higher than expected even though crude inventories fell, with WTI at $47.63 and Brent crude at $51.61. [41] However, Hurricane Harvey led to higher gas prices [ 42 ] and to a reduction of nearly 25% in refinery capacity and 15% in U.S. production.
The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited.The index was originally launched in 1998 as the Dow Jones-AIG Commodity Index (DJ-AIGCI) and renamed to Dow Jones-UBS Commodity Index (DJ-UBSCI) in 2009, when UBS acquired the index from AIG.
The organization, led by Saudi Arabia, has voluntarily reduced oil output since mid-2023 in a bid to boost prices. Despite their efforts, Brent crude, the international benchmark, is down over 12% ...