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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 ...
English: The chart in the figure shows the change in WTI oil prices between 2013 and 2023 (data availability by CNBC). The x-axis of the graph shows dots of different colours for each year, representing the start price, end price, and the highest and lowest prices for each year. y-axis represents the price of oil in US dollars per barrel.
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.
September heating oil was unchanged at $2.30 a gallon. September natural gas rose 7 cents to $2.01 per 1,000 cubic feet. Gold for December delivery fell $12.80 to $2,431.60 per ounce.
Amid the ongoing geopolitical concerns, energy prices climbed, and West Texas intermediate crude oil prices rocketed further above $100 per barrel to top $112 and reach the highest level since 2011.
U.S. stocks fell sharply for a second straight session Tuesday as investors brace for June inflation data.
U.S. crude and fuel inventories rose and oil prices fell, still finishing higher for the 5th week. [78] In the last full week of January, WTI reached $88.84, the highest in seven years, before settling at $86.82. Brent reached $91.70, highest since October 2014, before falling to $90.03. Both had the most up weeks since October. [79]
The price of oil could hit $120 a barrel by early 2025, according to Citi. That's according to the bank's bull case, which assumes conflict in the Middle East escalates.