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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 ...
Oil prices topped at $103 on February 24 where oil production is curtailed to the political upheaval in Libya. [1] Oil supplies remained high, and Saudi Arabia assured an increase in production to counteract shutdowns. Still, the Mideast and North African crisis led to a rise in oil prices to the highest level in two years, with gasoline prices ...
The Indian government announced on Aug. 14 that the country’s leading petroleum refiner, Indian Oil Corp., used the local rupee to buy one million barrels of oil from the Abu Dhabi National Oil ...
On December 21, Brent crude fell as low as $36.35 a barrel; this was the lowest price since July 2004. [81] U.S. crude rose slightly to $36.14. [82] Gas fell below $2 for the first time since 2009. [83] On December 30 with U.S. supplies still high, light sweet crude fell to $36.60, while Brent crude reached $36.46. Oil ended the year down 30%. [84]
Lower investment in new oil production and production cuts by many producers will lead to higher crude prices for years ... A barrel that today costs $100 is the equivalent, in real dollars, to a ...
The day after oil fell nearly 5 percent to a four-month low, the fourth down week finished with Brent at $80.61 and WTI at $75.89 as a result of continued bad news from China, high U.S. inventories and record production, with sanctions on Russian oil shipments causing prices to increase. [41] [42]
Oil prices have come down below $100/barrel after staying above that level for much of last month. The Ukraine-Russia war worsened the upward trend costs for energy across the globe.