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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 ...
[6] [7] The highest recorded price per barrel maximum of $147.02 was reached on July 11, 2008. [8] After falling below $100 in the late summer of 2008, prices rose again in late September. On September 22, oil rose over $25 to $130 before settling again to $120.92, marking a record one-day gain of $16.37.
Data from 1861–1944 is available on this page of annual average US domestic crude oil first purchase prices from 1859–2007. The chart leaves off 1859–1860 data. I am not sure why, but I imagine it's because it's disproportionately expensive: $16.00 in 1859 and $9.59 1860, both in the currency of the day, ridiculously expensive in today's ...
Involves gradual 28 month increase of "old" oil price ceilings, and slower rate of increase of "new" oil price ceilings. June 26–28 : OPEC raises prices average of 15 percent, effective July 1. October : Buy-Sell Program sales average more than 400,000 bbl/d (64,000 m 3 /d) from October 1979 through March 1980 - highest level since February ...
The US is pumping a record amount of oil. But that may not be welcome news to other crude-producing nations. Domestic output reached 13.4 million barrels a day in August, eclipsing all previous ...
The price of gas went down slightly to $3.82 [41] but was still the highest ever for Labor Day weekend. [42] Hurricane Isaac contributed to a temporary spike in gas prices, but on September 12 gas once again rose, to $3.86, as refineries cut production prior to the switch from summer blend gasoline to winter blend.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day in 1979, OPEC raised the price of crude oil by 9 percent from $13.34 ...
NEW YORK (Reuters) -Oil prices eased in volatile trade on Monday as some bearish economic news from the United States and Germany offset bullish support from a weaker U.S. dollar and forecasts for ...