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The refinery was built in 1906 by the National Refining Company, which was then the second largest oil company in the United States.Built on 75 acres (30 ha), the refinery processed 2,500 barrels per day (400 m 3 /d) of crude oil, compared to today's 108,000-barrel-per-day (17,200 m 3 /d) processing capacity.
Brent crude futures rose to $74.60 a barrel on Tuesday and US West Texas Intermediate crude was up at $71.66 a barrel. For the year, Brent declined 3.2%, while WTI was down 0.1%. For the year ...
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).
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 ...
Stocks closed lower on Wall Street after another sharp slide for the price of crude dragged down big oil-and-gas stocks. Treasury yields fell. NEW YORK (AP) — Wall Street is hanging near its ...
Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week. As part of the transaction, Marathon Oil shareholders will receive 0.2550 shares of ...
The discount on US crude is partially attributed to the long-standing federal ban on exports of American crude oil. [20] European Union refiners have been hard-hit by the growth in US exports. They lost much of their previous gasoline exports to the US, and also market share in the worldwide market to the newly competitive US refineries.
The report, which cited people familiar with Saudi Arabia's thinking, said the country is ready to abandon its unofficial price target of $100 a barrel for crude in order to regain market share.