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Oil produced from any location can be considered WTI if the oil meets the required qualifications. [2] Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its low density and sweet because of its low sulfur content. The price of WTI is often included in news reports on oil ...
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 ...
#2 Heating oil price, 1986–2022 Kerosene inventory stock levels (United States), 1993–2022. Heating oil is known in the United States as No. 2 heating oil. In the U.S., it must conform to ASTM standard D396. Diesel and kerosene, while often confused as being similar or identical, must each conform to their respective ASTM standards. [3]
2015 – OPIS acquires NAVX, the leading European and South American provider of retail fuel pricing, parking and Electric Vehicle (EV) charging location information. [10] 2016 – IHS Markit acquires OPIS for $650 Million. [11] 2018 - OPIS acquires Petrochem Wire. [12] 2022 - News Corp acquires OPIS and merges it with Dow Jones [13]
In 2008, oil prices rose briefly, to as high as $145 per barrel, [25] and U.S. gasoline prices jumped from $1.37 to $2.37 per gallon in 2005, [26] causing a search for alternate sources, and by 2012, less than half the US oil consumption was imported. However, as of January 2015, the price of oil has decreased to around $50 per barrel. [27]
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