Current Crude Prices Drop

The current crude price drops after the European Central Bank’s head described a weak short term outlook for the economy of the 17 nations using the euro. The U.S. benchmark for delivery in March was 34 cents lower to a crude price per barrel of $95.52 during midday trading on the NYMEX. In New York, trading was closed yesterday for a federal U.S. holiday. The contract shed $1.45 to end at...
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Brent and WTI Spread Widens to Highest Level

The difference in the per barrel crude oil prices of Brent, the benchmark used worldwide, and West Texas Intermediate (WTI), the benchmark mainly used in the U.S., just reached $25. That is the biggest difference between the two crude contracts in more than a year. Moreover, that difference is not so far from all-time record highs. The drop in the current crude price of West Texas Intermediate...
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Current Oil Prices Rise as TS Isaac Threatens Refinery Operations

Current oil prices have increased as Tropical Storm Isaac moves across the Mexican Gulf and in the direction of the U.S. mainland while obtaining strength and posing a threat to many operations of oil production and refining. Moreover, Venezuelan refinery explosion pushed prices upward as well. In the NYMEX, the crude price per barrel for delivery in October gained $1.03, reaching $97.18 in...
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