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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 ...
After retreating for several months in late 2004 and early 2005, crude oil prices rose to new highs in March 2005. The price on NYMEX has been above US$50 per barrel since March 5, 2005. In June 2005, crude oil prices broke the psychological barrier of $60 per barrel. From 2005 onwards, the price elasticity of the crude oil market changed ...
At the New York Mercantile Exchange (NYMEX), crude oil set for October delivery falls $3.96 to $22.01 per barrel, and crude oil for November delivery falls $3.82 to $22.44 per barrel. Over the past six trading sessions crude oil and gasoline futures have fallen more than 26% and heating oil futures have fallen nearly 29%. (NYT, DJ)
OPEC agrees to individual output quotas and cuts prices by $5 to $29 per barrel. March 30, 1983 New York Mercantile Exchange (NYMEX) begins trading in crude oil futures; April: Iraq increases missile attacks on Iran. July 20–30: Iran moves into northern Iraq. Casualties top 13,800 in ten days.
US crude settled at $79.97 per barrel. Brent ( BZ=F ) futures also rose more than 2% to settle at $83.94 per barrel. Friday's jump follows two consecutive months of price gains .
Oil production cuts by Russia and the Organization of the Petroleum Exporting Countries (OPEC) have helped push Brent crude prices up some 10% over the past month to roughly $93 per barrel.
Brent crude futures have seen a similar rise of more than 30% over the same period, currently hovering above $94 per barrel. Citi's analysts see oil averaging $84 in the fourth quarter 2023 and ...
The NYMEX Crude Oil contract trades under the symbol CL on the New York Mercantile Exchange, now part of Chicago Mercantile Exchange. [2] The contract is for 1,000 US barrels, or 42,000 US gallons, of WTI crude oil, the minimum tick size of the contract is $0.01 per barrel ($10 for contract), and the contract price is quoted in US dollars. [6]