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Oil futures dropped. West Texas Intermediate crude oil dropped 2% to $68.88 a barrel. Brent crude, the international benchmark, fell 1.9% to $72.38 a barrel. Gold was about flat at $2,523.70 an ounce.
Oil prices edged higher, despite an increase of 3.2 million barrels from the previous week. At 451.4 million barrels, U.S. crude oil inventories are about 2% below the five-year average for this ...
On 8 March, the 2020 Russia–Saudi Arabia oil price war was launched, in which Saudi Arabia and Russia briefly flooded the market, also contributed to the decline in global oil prices. [99] Later on the same day, oil prices had decreased by 30%, representing the largest one-time drop since the 1991 Gulf War. [100] Oil traded at about $30 a ...
Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, and metals). Trading includes various types of derivatives contracts based on these commodities, such as forwards, futures and options, as well as spot trades ...
Oil futures dropped Monday on a report that a ceasefire between Israel and Lebanon-based Hezbollah may have been reached. West Texas Intermediate sank about 3% to settle at $68.94 per barrel ...
Energy portal; Crack spread is a term used on the oil industry and futures trading for the differential between the price of crude oil and petroleum products extracted from it. . The spread approximates the profit margin that an oil refinery can expect to make by "cracking" the long-chain hydrocarbons of crude oil into useful shorter-chain petroleum produc