WTI crude oil bears ignore Russia-linked fears around $88.50 amid firmer USD
Crude Oil, commonly known as petroleum, is a naturally occurring fossil fuel liquid composed of hydrocarbon underground deposits and organic materials. The prices of this popular commodity are measured in USD. Saudi Arabia, Russia, United States, Iran and China are the countries producing more oil. On the other hand, United States, China, Japan, Russia, and Germany are the countries consuming more oil.
Density is measured by API gravity, a measure developed to compare the density of petroleum with water but is now widely used to compare among crude oils. API degree is inversely related to the density of crude oil. In general, crudes of API between 40-45 degrees can be sold at greatest commercial values.
This type of crude oil is used as a benchmark in oil pricing and the underlying commodity of NYMEX's oil futures contracts. Due to its 'lightness' and 'sweetness', WTI crude is normally selling at about $1-$2/ barrel premium to Brent.Brent is actually a blend of crude oil from 15 different oil fields the North Sea. It has API gravity of 38.3 degrees and sulphur content of around 0.37%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBPUSD Forecast, News and Analysis - FXStreetCheck our updated for GBPUSD News including real time updates, forecast, technical analysis and the economic latest events from the best source of Forex News.
Read more »
WTI Crude Oil Forecast: Price Finds Bid After Huge SelloffThe West Texas Intermediate Crude Oil market sold off quite drastically on Tuesday as we plunged towards the $88.50 level.
Read more »
OPEC sees upside to 2022 oil demand forecast on strong pandemic recoveryOPEC said on Thursday world oil demand might rise even more steeply this year as the global economy posts a strong recovery from the pandemic, a development that would underpin prices already at a seven-year high.
Read more »
Puerto Rican Treasury Department Aims to Tax NFT Sales – News Bitcoin NewsThe Department of Treasury of Puerto Rico released a new reform to the Sales and Usage Tax law last month that includes the concept of NFTs as a taxable asset class.
Read more »
Oil edges lower ahead of supply data as traders watch Iran talks, Ukraine tensionsOil futures trade slightly lower Wednesday morning, extending this week's pullback from seven-year highs as traders await data on U.S. supplies.
Read more »
New York State pension fund selling stock in 21 shale oil and gas companies: ReutersNew York's state pension fund plans to divest $238 million in stock it owns in 21 shale oil and gas companies as part of an effort to invest in a low...
Read more »