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Oil prices for Brent in US$ (blue) and Euro (red) From the mid-1980s to September 2003, the inflation adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. Then, during 2004, the price rose above $40, and then $60. A series of events led the price to exceed $60 by August 11, 2005, leading to a record-speed hike that ...
Brent blend is a light crude oil (LCO), though not as light as West Texas Intermediate (WTI). It contains approximately 0.37% of sulphur, classifying it as sweet crude, yet not as sweet as WTI. Brent is suitable for production of petrol and middle distillates. It is typically refined in Northwest Europe.
2000s energy crisis. 2000s United States housing bubble. 2000s United States housing market correction. 2007–2008 financial crisis. 2008–2010 automotive industry crisis. Dodd–Frank Wall Street Reform and Consumer Protection Act. European debt crisis. Causes. Summit meetings.
Benchmark (crude oil) A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in ...
In commodities, Brent crude futures were down 0.4% at $80.39 a barrel, while U.S. West Texas Intermediate crude fell 0.5% to $77.99. Gold prices were 0.4% higher at $2,474.62 an ounce.
Brent Group. The Brent field was an oil and gas field located in the East Shetland Basin of the North Sea, 186 kilometres (116 mi) north-east of Lerwick in the Shetland Islands, Scotland, at a water depth of 140 metres (460 ft). The field operated by Shell UK Limited was discovered in 1971 and was once one of the most productive parts of the UK ...
West Texas Intermediate ( WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX). The WTI oil grade is also known as Texas light sweet ...
The Brent System pipeline transports oil from the North Sea oilfields via Cormorant Alpha to the Sullom Voe Terminal in Shetland, Scotland. [1] Since 3 August 2009, it is operated by Abu Dhabi National Energy Company replacing the previous operator Royal Dutch Shell. [1] [2] The Brent system is jointly owned by 21 companies.