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In energy markets, crude oil futures were off more than 8% to trade below $96 a barrel as commodities remain under pressure amid investor fears of a global recession.
Oil extended gains to hit a five-month high on Monday as worries grew over supply disruptions impacting big importers China and India following wide-ranging sanctions against Russian crude.
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 ...
Amid the ongoing geopolitical concerns, energy prices climbed, and West Texas intermediate crude oil prices rocketed further above $100 per barrel to top $112 and reach the highest level since 2011.
Tapis crude is a Malaysian crude oil used as a pricing benchmark in Singapore. Tapis is very light, with an API gravity of 43°-45°, and very sweet , with only about 0.04% sulfur. [ 1 ] [ 2 ] While it is not traded on a market like Brent Crude or West Texas Intermediate (WTI), it is often used as an oil marker or price referencing indicator ...
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According to The World Fact Book, Singapore produces about 20,170 barrels of crude oil per day, ranking it 78th in the list of the world's oil producing countries. [3] The government-owned Singapore National Oil Corporation ( Abbreviation : SNOC) is in charge of the governance of the country's oil industry and protecting it.