References to the price of petroleum are usually references to the spot price of either WTI/Light Crude as traded on the New York Mercantile Exchange (NYMEX) for delivery in Cushing, Oklahoma or the price of Brent as traded on the Intercontinental Exchange (ICE) for delivery at Sullom Voe.

2008 WTI Crude Oil $/barrel

West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in crude oil prices and the underlying commodity of New York Mercantile Exchange's oil futures contracts. This oil type is often referenced in North American news reports about oil prices, alongside North Sea Brent Crude.

Brent Crude is one of the major classifications of oil consisting of Brent Crude, Brent Sweet Light Crude, Oseberg and Forties. Brent Crude is sourced from the North Sea. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum.

Crude Oil Prices 1970-2008 Not Inflation Adjusted

Prices Per Barrel - Crude oil prices per barrel measure the spot price of various barrels of oil, most commonly either the West Texas Intermediate (WTI) or the Brent Blend. The OPEC basket price and NYMEX futures price are also sometimes quoted.

Price History - Crude Oil Price History shows that world crude oil prices behave much like any other commodity with wide price swings in times of shortage or oversupply.

Current Prices - Current crude oil prices are usually references to the spot price of either WTI/Light Crude as traded on NYMEX for delivery in Cushing, Oklahoma or the price of Brent as traded on the ICE for delivery at Sullom Voe.

Prices in January - Crude oil prices January 2009 and historical January prices can be found on New York Mercantile Exchange, Inc. (NYMEX) and US Energy Information Administration (EIA) websites.

North Dakota Prices - North Dakota is a substantial crude oil-producing State with an output typically equal to roughly 2 percent of total annual U.S. production. Crude Oil Price North Dakota can be found here.


Other Crude Oil Pages

Oil Refining - Crude Oil Refining (Petroleum refining) is the process of separating the many compounds present in crude oil which then are selectively changed into new products.

Oil Production - While the global demand for crude oil production continues to rise, supplies remain relatively constrained. Oil companies explore the world searching for new sources of oil.

Oil Spills - Crude Oil Spills into rivers, bays, oceans are caused by accidents involving tankers, barges, pipelines, refineries, storage facilities, usually while the oil is being transported.

The most relevant links we could find, placed here free

Crude Oil Price Definition - Article which explains how crude oil price are defined. useconomy.about.com

Energy Information Administration (EIA) - Official Energy Statistics from the U.S. www.eia.doe.gov

WTI/Brent Crude Oil Prices - Market Data by Platts | BBC News. newsvote.bbc.co.uk

OPEC Basket Price - Organization of the Petroleum Exporting Countries (OPEC) coordinates oil production policies in order to help stabilise the oil market and to help oil producers achieve a reasonable rate of return on their investments. Their meetings are watched closely to determine if they will be an increase or decrease in oil production. www.opec.org

NYMEX - New York Mercantile Exchange, Inc. (NYMEX) is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals. www.nymex.com

IntercontinentalExchange (ICE) - operates global commodity and financial products marketplaces, including the world's leading electronic energy markets and soft commodity exchange. www.theice.com

Current crude oil prices are usually references to the spot price of either WTI/Light Crude as traded on NYMEX for delivery in Cushing, Oklahoma or the price of Brent as traded on the ICE for delivery at Sullom Voe.