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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 ...
October: OPEC reaches an agreement to unify crude price at $32 per barrel through 1982 and sets an ultimate price ceiling of $38 per barrel. November 29: Major Iranian offensive mounted on central front. 1982. Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982.
U.S. crude and fuel inventories rose and oil prices fell, still finishing higher for the 5th week. In the last full week of January, WTI reached $88.84, the highest in seven years, before settling at $86.82. Brent reached $91.70, highest since October 2014, before falling to $90.03. Both had the most up weeks since October.
Benchmark U.S. crude oil for September delivery fell $2.79 to $73.52 per barrel Friday. Brent crude for October delivery fell $2.71 to $76.81 per barrel. Wholesale gasoline for September delivery ...
Benchmark U.S. crude oil for September delivery fell $1.60 to $76.31 per barrel Thursday. Brent crude for October delivery fell $1.32 to $79.52 per barrel. Wholesale gasoline for September ...
Colas noted that when WTI crude prices ranged between $80 and $100 per barrel between 2008 and 2014, XLE typically outperformed. Old rusted oil rig in a field in Galveston, Texas. (Getty Images ...
Benchmark U.S. crude oil for September delivery fell $1.12 to $77.16 per barrel Friday. Brent crude for September delivery fell $1.24 to $81.13 per barrel. Wholesale gasoline for August delivery ...
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis. The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($75 to $28 in 2023 dollars). [2] [3] The ...