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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 ...
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.
The chart currently uses yearly averages; since 2008's not over yet, we don't have an average price for this year. I have to integrate it in a way that doesn't hurt the accuracy of the graph. I have put further thought into how the EIA's 1861–1999 spreadsheet is constructed, with the intention of possibly improving it.
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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).
If the S&P 500 does trade at the 8,000 level with EPS of $400, it would imply a price-to-earnings ratio of 20x, which is below current levels but slightly above the index's long-term average.
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Despite the call for higher prices early next year, Americans could see more relief in the short term. Crude oil futures declined on Tuesday, as West Texas Intermediate for September delivery fell ...