The energy market could have a new benchmark oil price when Dubai launches its Middle East sour crude futures contract as an alternative to New York's NYMEX light crude oil futures and London's IPE Brent crude oil. (cnbc.com)
Benchmark oil prices continued to hover around the same lofty level they had occupied for the previous few years — near or above $ 100 per barrel. (fortune.com)
Constraints in existing pipelines, slow response by railroads to supply locomotives to move oil, and oilsands output increases from new projects conspired in the first quarter to prevent the price of Western Canadian Select heavy crude from keeping pace with improvements in New York benchmark oil prices. (canadianbusiness.com)