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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).
A chart showing the start price, end price, highs and lows of WTI oil prices for each year of the decade. By mid-January 2022, Reuters raised concerns that an increase in the price of oil to $100—which seemed to be imminent—would worsen the inflationary environment that was already breaking 30-year-old records. [122]
On April 24, gasoline was $3.85 compared to $3.86 a year earlier; it had been two years since gas prices were lower than the previous year. Crude oil prices were down; West Texas Intermediate was $103.55 a barrel, [72] down from over $107 late in March, [73] and Brent Crude $118.16 [72] after peaking above $128 in March. [74]
While OPEC and allies were expected to reach a deal, they had not by July 2. WTI finished the week at $75.16, up 1.5 percent for the week, with Brent at $76.17, up 1.1 percent. [52] After the July 4 holiday, WTI briefly climbed to its highest price in six years before falling 2.4 percent to $73.37, while Brent fell 3.4 percent to $74.53. Some ...
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.
Both Brent and WTI started the year down more than 8 percent, the most for a first week since 2016. Brent finished at $78.57 and WTI at $73.77, after gaining 13 percent in the previous three weeks. U.S. jobs news indicated the economy was slowing, meaning less chance of another large interest rate increase, and the dollar jumped.
The Clinton Administration hopes that the sale will lower gasoline prices in the United States, which are at their highest levels in five years. (WSJ) May 20 : In New York, the United Nations and Iraq agree to U.N. Resolution 986, which provides Iraq with the opportunity to sell $1 billion of oil for 90 days for a 180-day trial period.
On January 6, 2016, the price of WTI crude hit another eleven-year low, as it dropped to 32.53 a barrel for the first time since 2009. [85] On January 12, in its seventh losing day, crude oil dropped below $30 for the first time since December 2003, ending the day at $30.44, as gas fell below $1.97. [86]