Tag: West Texas Intermediate (WTI) crude futures

What happened to oil prices?
April 28, 2020 BY Steffy Bogdanova

The oil price drop and how we got there

This caused the price for the future contract of crude oil, with delivery in May, to drop to negative values. Many traders were obligated to receive a product with no way to sell or store it, so they came down to paying $40 per barrel to anyone who would accept to take their product. Trading…

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US oil index is prime
January 06, 2017 BY Valentina Kirilova

Oil prices edge higher by the end of this week

Oil prices edged higher on Friday as output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases aimed at curbing global oversupply, as reported by Reuters earlier today. Brent crude futures LCOc1 were trading at $57.20 per barrel at 1229 GMT (7:29 a.m. ET),…

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