Crude Oil Prices Per Barrel
Crude Oil Prices
     

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Crude Oil PricesCrude Oil Prices - 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.



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.


Crude Oil Prices Per Barrel

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.

Nymex prices per barrel (Click to enlarge)
Live NYMEX Prices Per Barrel
(Click image to enlarge)

West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in crude oil prices per barrel 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, and is quoted in crude oil prices per barrel.



The most relevant links we could find, placed here free

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

Price of petroleum - Article about the price of crude oil. en.wikipedia.org

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

Crude Oil Spot Prices - Spot Prices for Crude Oil and Petroleum Products by EIA. WTI and Brent crude oil prices in Dollars per barrel. tonto.eia.doe.gov

World Crude Oil Prices Per Barrel - from US Energy Information Administration (EIA). tonto.eia.doe.gov

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 and quotes future prices in crude oil prices per barrel. www.nymex.com


Oil prices 2006 to 2008 (Click to enlarge)
Oil Prices 2006 - 2008
NYMEX Light Sweet
(not adjusted for inflation)

The OPEC Basket Price is an average of the prices of oil from Algeria, Indonesia, Nigeria, Saudi Arabia, Dubai, Venezuela, and Mexico. OPEC uses the price of this basket to monitor world oil market conditions. OPEC prices are lower because the oil from some of the countries have higher sulphur content, making them more "sour", and therefore less useful for making gasoline. The OPEC Basket Price quotes crude oil prices per barrel.

The NYMEX futures price for crude oil is reported in almost every major U.S. newspaper. It is the value of a 1,000 barrels of oil, usually WTI at some agreed upon time in the future. In this way, the NYMEX gives a forecast of what oil traders think the WTI spot price will be in the future. However, the futures price usually follows the spot price pretty closely, since the oil traders can't know about sudden disruptions to the oil supply, etc. The NYMEX futures quotes crude oil prices per barrel.

NYMEX prices per barrel (Click to enlarge)
Live Prices Per Barrle (USD). Click image to go to wtrg.com

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