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Oil extended gains as markets priced the supply impact of recently announced sanctions against Russia's energy market. Oil prices jump to 5-month high over increasing worries of supply crunch ...
Analysts predict Trump's policies will benefit oil companies and warn they also could lead to price increases. Michigan gas prices dip 12 cents per gallon: What Trump presidency could mean for drivers
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In the wake of the 1970s oil crisis, speculative trading in crude oil and crude oil futures in the commodity markets emerged. [53] [54] NYMEX launched crude oil futures contracts in 1983, and the IPE launched theirs in June 1988. [56] Global crude oil prices began to be published through NYMEX and IPE crude oil futures market. [56]
Trading includes various types of derivatives contracts based on these commodities, such as forwards, futures and options, as well as spot trades (for immediate delivery). A futures contract provides that an agreed quantity and quality of the commodity will be delivered at some agreed future date.
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
Motorists in Michigan are paying about $53 for a full 15-gallon tank of gasoline. Michigan gas prices reach 2024 high, likely to increase as demand grows, supply tightens Skip to main content
The first futures contracts on crude oil were traded in 1983, with the Chicago Board of Trade (CBOT) and the New York Mercantile Exchange (Nymex) both attempting to take advantage of the government's de-regulation of crude oil. CBOT's initial contracts had delivery problems, so customers abandoned it for Nymex.