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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 ...
I think it would be better if the entire chart relied on the same source. Oil was not extracted in large quantities in the Middle East until the mid-20th century, and was first drilled in the North Sea in the 1970s, but the EIA has US domestic oil prices from 1859 all the way to today. It has month-by-month prices from 1974.
In the process of creating Image:Oil Prices 1861 2007.svg, I realized what an incredible wealth of information is available on the Energy Information Administration's web site. The 1861–2007 graph uses yearly averages, and I couldn't think of a really satisfying way to incorporate the price jumps of the past couple of months.
Oil extended gains as markets ... rose nearly 3% to settle at $78.82 per barrel, the ... Click here for in-depth analysis of the latest stock market news and events moving stock prices.
"Despite ongoing geopolitical conflicts, a combination of bearish factors will likely keep oil prices structurally low in 2025, with a likely price range of $60-$80 per barrel for Brent spot crude ...
On January 6, 2016, the price of WTI crude hit another eleven-year low, as it dropped to 32.53 a barrel for the first time since 2009. [85] On January 12, in its seventh losing day, crude oil dropped below $30 for the first time since December 2003, ending the day at $30.44, as gas fell below $1.97. [86]
Escalating tensions abroad could push oil prices to roughly $90 per barrel, according to one analyst. Prices weren't too far from those levels on Monday, as Brent hovered above $86 per barrel ...
After news of North Korea's successful nuclear test on October 9, 2006, oil prices rose past $60 a barrel, but fell back the next day. On October 19, 2007, U.S. light crude rose to $90.02 per barrel due to a combination of ongoing tensions in eastern Turkey and the reducing strength of the U.S. dollar . [ 24 ]