The Crude Oil Price Today
ABOUT THE CURRENT CRUDE OIL PRICE TODAY
As everyone knows crude oil is the probably the most traded commodity in the world, and the price directly affects everyone, and affects major economic planning, inflation and more.
Like all commodities the crude oil price suffers from wide variations in prices that are directly linked oil shortages and oil gluts.
Other major factors that affect the crude oil price include the value of the US dollar, the economic fortunes of emerging economies such as China
The crude oil price is also directly affected by geo-political factors such as threats of supply disruption due to war or other unrest such as Nigerian civil unrest in the oil regions.
The weather also affects the crude oil price and a threat of a hurricane in the Gulf of Mexico will cause prices to rise as will U.S. oil refinery problems. Another major factor is the level of petroleum inventories that are being held in the U.S. and other countries.
THE CURRENT CRUDE OIL PRICE LIVE TICKER
THE BASIS OF THE CURRENT CRUDE OIL PRICE
The quoted price of petroleum that you read in financial media refers to what is called the spot price (West Texas Intermediate) WTI/Light Crude that is traded on the New York Mercantile Exchange (NYMEX) for delivery at Cushing, Oklahoma or Brent Crude as traded on the Intercontinental Exchange (ICE) for delivery at Sullom Voe in Scotland.
NYMEX CRUDE OIL PRICES 1 MONTH
Click on this link to find out more about working offshore. Offshore 0il Rig Work and all you need to know. |