West Texas Intermediate Crude Oil

West Texas Intermediate Crude Oil

A blend of light, sweet crude oil drilled in the Midwestern United States and the Gulf of Mexico. It is the underlying commodity for oil futures and other derivatives traded on the New York Mercantile Exchange. West Texas Intermediate is stored and shipped from Cushing, Oklahoma. It is considered a major benchmark for the global price of oil.
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26, 2015 /PRNewswire/ -- On Monday, August 24, 2015, West Texas Intermediate crude oil closed at $38 per barrel, the lowest price since the financial crisis in 2009.
The price of West Texas Intermediate crude oil closed Thursday below $60, "a level of great psychological significance," according to the Washington Post, and a price not seen in five years.
West Texas Intermediate crude oil for October delivery shed $1.
Facing lower prices for natural gas and natural gas liquids, a dip in West Texas Intermediate crude oil and logistics issues in some shale basins, US exploration and production companies are expected to be more cautious when determining budgets for next year.
Yesterday the NYMEX West Texas Intermediate Crude Oil Price for December delivery closed up USD 0.
The OPEC Basket, including a mix of light and heavy crudes, is heavier than both Brent crude oil and West Texas Intermediate crude oil.
On Friday in New York, West Texas Intermediate crude oil closed at $80.
It estimated that a barrel of West Texas Intermediate crude oil will average $75 in 2010, up from an earlier estimated of $50 a barrel.
The December contract for West Texas Intermediate crude oil closed at $56.
In the past year, crude oil prices have risen significantly--from August 31, 2004 to August 31, 2005, the price of West Texas Intermediate crude oil, a benchmark for international oil prices, rose by almost $27 per barrel, an increase of almost 64 percent.
Since April, world oil prices have increased more than $13, and the price of West Texas intermediate crude oil has risen more than $12.
In trading, on May 15, on the New York Mercantile Exchange, the June contract for West Texas Intermediate crude oil was up 30 cents to close at US$29.
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