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Analysing the graph, you can see that the price of oil has slowly returned to the level of a decade ago after a rapid decline. You can also see that oil prices reach a stage low in 2020 due to COVID-19. The chart was created by analysing WTI Crude data provided by CNBC. The chart was generated via charticulator production and then exported as SVG.
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).
x-axis: year, begins with 2000 y-axis: price of crude oil in dollars per barrel, West Texas Intermediate benchmark full year range: File:Crude oil price WTI EIA.svg Date
After Saudi Arabia promised further production cuts, WTI reached $51.28 on January 7 and Brent climbed as high as $54.90, the highest since before COVID-19. [36] On January 14, a weaker dollar and an expected COVID-19 relief package helped oil move slightly higher, with WTI at $53.57 and Brent at $56.42, though Europe was experiencing more lockdowns and China had a higher number of COVID-19 ...
A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude.
On August 23 both jumped over 2 percent, Brent closing at $79.02 and WTI at $74.83. The U.S. Federal Reserve chair indicated rates were going down. [68] Closing of Libya oil fields caused oil to jump to the highest point in two weeks on August 26. However, oil fell later in the week and Brent ended the month at $78.80, down 2.4 percent, and WTI ...
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Brent Crude is typically priced at about $2 over the WTI Spot price, which is typically priced $5 to $6 above the EIA's Imported Refiner Acquisition Cost (IRAC) and OPEC Basket prices. WTI and Brent are quoted FOB specific locations, not FOB the oilfields. For WTI, the delivery point is Cushing, OK; for Brent, it is Sullom Voe, located in ...