Crude oil prices mainly for the USA. Details on crude oil prices per barrel, the crude oil price history and what events caused the price rises, the current crude oil prices, how crude oil is refined and more.
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
Crude Oil Price Pages
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
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
- 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
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.
The Spot price of Crude Oil is the current price at
which Crude Oil can be bought or sold. It is the wholesale price that is
quoted if you were a refiner wanting to buy Crude Oil today. Crude oil prices are
quoted per barrel. One barrel of crude oil contains 42 gallons of oil