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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 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 ...
In the process of creating Image:Oil Prices 1861 2007.svg, I realized what an incredible wealth of information is available on the Energy Information Administration's web site. The 1861–2007 graph uses yearly averages, and I couldn't think of a really satisfying way to incorporate the price jumps of the past couple of months.
1859 was the year oil drilling began in the United States, in Titusville, Pennsylvania, and so I imagine it took a couple of years for prices to get down to realistic levels. Prices from the first couple of years of production are probably meaningless. Data from 1945–1985 is said to be the price for "Arabian Light posted at Ras Tanura". I don ...
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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).
While HV measures how much the price of an asset has moved before, implied volatility reflects market expectations of future volatility. Both metrics offer pricing insights, but in different ways:
For many years it was the only freely traded oil in the Middle East, but gradually a spot market has developed in Omani crude as well. For many years, most of the oil producers in the Middle East have taken the monthly spot price average of Dubai and Oman as the benchmark for sales to the Far East (WTI and Brent futures prices are used for ...