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- Price_of_petroleum abstract "The price of petroleum as quoted in news in North America generally refers to the WTI Cushing Crude Oil Spot Price West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. WTI is a light crude oil, lighter than Brent Crude oil. It contains about 0.24% sulfur, rating it a sweet crude, sweeter than Brent. Its properties and production site make it ideal for being refined in the United States, mostly in the Midwest and Gulf Coast regions. WTI has an API gravity of around 39.6 (specific gravity approx. 0.827) per barrel (159 liters) of either WTI/light crude as traded on the New York Mercantile Exchange (NYMEX) for delivery at Cushing, Oklahoma, or of Brent as traded on the Intercontinental Exchange (ICE, into which the International Petroleum Exchange has been incorporated) for delivery at Sullom Voe. Cushing, Oklahoma, a major oil supply hub connecting oil suppliers to the Gulf Coast, has become the most significant trading hub for crude oil in North America.The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location. Other important benchmarks include Dubai, Tapis, and the OPEC basket. The Energy Information Administration (EIA) uses the imported refiner acquisition cost, the weighted average cost of all oil imported into the US, as its "world oil price".The demand for oil is highly dependent on global macroeconomic conditions. According to the International Energy Agency, high oil prices generally have a large negative impact on the global economic growth.The Organization of the Petroleum Exporting Countries (OPEC) was formed in 1960 to try to counter the oil companies cartel, which had been controlling posted prices since the so-called 1927 Red Line Agreement and 1928 Achnacarry Agreement, and had achieved a high level of price stability until 1972.The price of oil underwent a significant decrease after the record peak of US$145 it reached in July 2008. On December 23, 2008, WTI crude oil spot price fell to US$30.28 a barrel, the lowest since the financial crisis of 2007–2010 began, and traded at between US$35 a barrel and US$82 a barrel in 2009. On 31 January 2011, the Brent price hit $100 a barrel for the first time since October 2008, on concerns about the political unrest in Egypt.".
- Price_of_petroleum thumbnail Crude_oil_prices_since_1861.png?width=300.
- Price_of_petroleum wikiPageExternalLink NYMEXFutures.
- Price_of_petroleum wikiPageExternalLink MPRA_paper_15039.pdf.
- Price_of_petroleum wikiPageExternalLink gasdiesel.asp.
- Price_of_petroleum wikiPageExternalLink light-sweet-crude.html.
- Price_of_petroleum wikiPageExternalLink www.currentoilprice.net.
- Price_of_petroleum wikiPageExternalLink www.eia.doe.gov.
- Price_of_petroleum wikiPageExternalLink prices.
- Price_of_petroleum wikiPageExternalLink oil-stocks.
- Price_of_petroleum wikiPageExternalLink crude.php.
- Price_of_petroleum wikiPageExternalLink www.nymex.com.
- Price_of_petroleum wikiPageExternalLink podcast.htm.
- Price_of_petroleum wikiPageExternalLink oil_and_gas_value_chains.htm.
- Price_of_petroleum wikiPageExternalLink story.htm.
- Price_of_petroleum wikiPageExternalLink crude-oil-and-gasoline.
- Price_of_petroleum wikiPageExternalLink 2864.
- Price_of_petroleum wikiPageExternalLink prices.htm.
- Price_of_petroleum wikiPageID "5137675".
- Price_of_petroleum wikiPageRevisionID "606369700".
- Price_of_petroleum date "February 2013".
- Price_of_petroleum hasPhotoCollection Price_of_petroleum.
- Price_of_petroleum subject Category:Commodity_markets.
- Price_of_petroleum subject Category:Energy_costs.
- Price_of_petroleum subject Category:Petroleum_economics.
- Price_of_petroleum subject Category:Pricing.
- Price_of_petroleum type Abstraction100002137.
- Price_of_petroleum type Cost113275847.
- Price_of_petroleum type EnergyCosts.
- Price_of_petroleum type Outgo113275288.
- Price_of_petroleum type Possession100032613.
- Price_of_petroleum type Relation100031921.
- Price_of_petroleum type TransferredProperty113252973.
- Price_of_petroleum comment "The price of petroleum as quoted in news in North America generally refers to the WTI Cushing Crude Oil Spot Price West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. WTI is a light crude oil, lighter than Brent Crude oil. It contains about 0.24% sulfur, rating it a sweet crude, sweeter than Brent.".
- Price_of_petroleum label "Aumentos do preço do petróleo desde 2004".
- Price_of_petroleum label "Marché pétrolier".
- Price_of_petroleum label "Mercato del petrolio".
- Price_of_petroleum label "Olieprijs".
- Price_of_petroleum label "Precio del petróleo".
- Price_of_petroleum label "Price of petroleum".
- Price_of_petroleum label "Ölpreis".
- Price_of_petroleum label "سعر النفط".
- Price_of_petroleum label "原油価格".
- Price_of_petroleum sameAs Ölpreis.
- Price_of_petroleum sameAs Precio_del_petróleo.
- Price_of_petroleum sameAs Marché_pétrolier.
- Price_of_petroleum sameAs Mercato_del_petrolio.
- Price_of_petroleum sameAs 原油価格.
- Price_of_petroleum sameAs 유가.
- Price_of_petroleum sameAs Olieprijs.
- Price_of_petroleum sameAs Aumentos_do_preço_do_petróleo_desde_2004.
- Price_of_petroleum sameAs Q297279.
- Price_of_petroleum sameAs Q297279.
- Price_of_petroleum sameAs Price_of_petroleum.
- Price_of_petroleum wasDerivedFrom Price_of_petroleum?oldid=606369700.
- Price_of_petroleum depiction Crude_oil_prices_since_1861.png.
- Price_of_petroleum homepage podcast.htm.
- Price_of_petroleum isPrimaryTopicOf Price_of_petroleum.