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Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.
For importers, a lower oil price could cut inflation and ease demand for foreign exchange. China spends just under $300 billion importing oil, followed by India at nearly $200 billion.
The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
West Texas Intermediate crude oil dipped to $70.50 a barrel. Brent crude , the international benchmark, was nearly flat at $73.52 a barrel. Gold fell almost 2% to $2,704.50.
Similarly, another Costco shopper based in Canada has been tracking the grocer's olive oil prices and recently posted a photo collage showing that prices for two-liter bottles of Kirkland ...
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