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Both WTI and Brent crude began the year above $60 for the first time since 2014. [146] With U.S. inventories the lowest in three years, and cold weather decreasing U.S. production, oil reached its highest price since December 2014 in mid-January. On January 15, Brent crude reached $70.37, and the next day, WTI hit $64.89.
With United States fourth quarter economic growth expected to be lower than an early estimate, Benchmark crude fell slightly on February 27 to $102.40, with Brent crude reaching $108.61. [5] On March 24, due to the dispute over Crimea , problems in Libya, and the Houston Ship Channel collision , Benchmark crude rose above $100 and Brent 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 ...
Colas noted that when WTI crude prices ranged between $80 and $100 per barrel between 2008 and 2014, XLE typically outperformed. Old rusted oil rig in a field in Galveston, Texas. (Getty Images ...
Escalating tensions abroad could push oil prices to roughly $90 per barrel, according to one analyst. Prices weren't too far from those levels on Monday, as Brent hovered above $86 per barrel ...
Oil reversed earlier declines Wednesday after new data showed US inventories fell last week, but futures are still down roughly 8% from their April peak. ... Brent , the international ...
The US Energy Information Administration attributes the price spread between WTI and Brent to an oversupply of crude oil in the interior of North America (WTI price is set at Cushing, Oklahoma) caused by rapidly increasing oil production from unconventional reservoirs such as Canadian oil sands and tight oil formations such as the Bakken ...
Oil prices eased slightly on Tuesday after rallying for three straight sessions, but remained close to four-year highs on worries that global supplies will drop due to Washington's sanctions on Iran.