Sentences with phrase «crude oil benchmark»

The latest rise in oil prices took gains in the Brent crude oil benchmark to 40 % since June.

Statistics Canada reported in The Daily in November that, «gasoline prices have increased at a slightly faster pace in the central and eastern provinces than in the west, resulting in a spread between some provincial gasoline indices... associated with the dual crude oil market in Canada and the recent price differential between crude oil benchmarks.»

Not exact matches

NEW YORK, April 23 - Global benchmark Brent crude turned positive on Monday, after dropping earlier after Iran's oil minister said OPEC would not extend its production cap pact if high crude oil prices continued.

(SAGD stands for Steam - Assisted Gravity Drainage; WTI for Western Texas Intermediate, a crude oil price benchmark.)

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.

West Texas Intermediate crude oil, the US benchmark, has gained 11 % this year as Russia along with the Organization of Petroleum Exporting Countries continue to cut their production.

The benchmark West Texas Intermediate (WTI) crude oil contract increased trading volume by 10 percent last month.

On Friday, international benchmark Brent crude oil was trading within $ 2 of its 2017 high of $ 58.37.

U.S. crude futures dipped below $ 28.50, while the international benchmark Brent fell as far as $ 27.79 a barrel after reports that Iran had offered sharp discounts to customers in Europe and Asia to find buyers for millions of barrels of oil in storage that it is now free to sell, after the lifting of most international sanctions on it at the weekend.

Brent crude, the international benchmark for oil prices, rose to $ 70.37 on Monday, while U.S. West Texas Intermediate crude reached $ 64.89 on Tuesday, both hitting more than three - year highs.

The price of a barrel of West Texas Intermediate (WTI), a benchmark for so - called light sweet crude oil, tumbled from its June high of $ 108 to a low in January of $ 44.

He said regulatory confusion and delays in Canada have prevented the timely completion of pipeline projects such as the Trans Mountain expansion, leading to difficulty in getting crude oil to markets and the current steeper - than - usual discounts being paid for Canadian oilsands crude compared with benchmark New York - traded oil.

At the last check Friday, U.S. West Texas Intermediate crude oil prices were at $ 67.73 a barrel, while international benchmark Brent crude sat at $ 73.15.

The benchmark price of U.S. crude oil last week hit US$ 68.64 per barrel, the highest since December 2014.

Prices of WTI crude oil, the benchmark grade for North America, have averaged $ 97.40 a barrel over the last year, 15 % higher than the five year average.

Benchmark crude futures contracts have in the past week wiped out the gains made since the end of September when the Organization of the Petroleum Exporting Countries said it would agree to cut oil production to shore up persistently low prices.

According to the Bilur website, this price is calculated daily against the Standard & Poor's Platts Dated Brent assessment — the benchmark appraisal of physical cargoes of crude oil in the North Sea.

Over the past five years the price of west Texas crude, the primary American benchmark for oil, has yo - yoed from US$ 60 a barrel to US$ 145 in 2008, all the way back down to US$ 30 during the recession, then up again to US$ 114, before settling this year around US$ 100.

Brent crude, the benchmark for international oil prices, fell $ 1.44, or 3.1 percent, to $ 45.45 a barrel in London.

Oil prices fell over 5 percent in early Asian trade and were still trading around $ 41.21 a barrel for benchmark Brent crude and $ 38.47 for U.S. WTI (West Texas Intermediate) in early European trade.

ENERGY: Benchmark U.S. crude oil gained 29 cents to $ 68.93 a barrel.

Earlier this year, for instance, Western Canadian Select, the benchmark price for bitumen from the oil sands, traded at nearly half the price of Brent crude.

West Texas Intermediate crude oil, the U.S. benchmark, traded briefly Friday in the $ 39 - a-barrel range, a six - year low.

As shown in the following chart, the price of West Texas Intermediate (WTI)-- a benchmark for crude oil — fell early in 2016, sparking a global loss aversion shift as investors began looking for a potentially higher - yielding investment opportunity.

Although the benchmark West Texas Intermediate (WTI) oil price has been increasing, Alberta's producers are being hurt by transportation bottlenecks that have resulted in heavy discounts for non-conventional crude oil.

The weights of individual oil benchmarks are inferred over history from Statistics Canada's total crude oil production values using the same methodology described above.

To get a better understanding of the dynamics, let's look at some of the key features of crude oil, benchmarks and the fundamentals that drive the commodity.

NYMEX crude oil futures have a ticker symbol of CL, give the buyer control of 1,000 barrels of oil, and use the West Texas Intermediate (WTI) benchmark for oil.

Meanwhile, London - traded Brent crude futures, the benchmark for oil prices outside the U.S., shed 10 cents to settle at $ 74.64 a barrel.

Overall, crude ended the week down about 4 %, with the U.S. oil benchmark price WTI settling just above $ 45 per barrel on renewed supply worries due to surging U.S. production.

Western Canada Select, the Canadian heavy oil benchmark's discount against the U.S. crude widened to US$ 17.40 per barrel, its highest level since the start of the month.

That pushed down the price of West Texas Intermediate (WTI), the benchmark price for mid-continent oil, but had a much smaller effect on Brent crude, the benchmark price for most oil outside North America.

Brent crude, the benchmark for international oil prices, lost $ 1.33, or 2.7 percent, to $ 47.04.

But while the recent crude price movements have been extraordinary, I still believe that oil prices will, for the most part, remain range bound, with the global benchmark Brent trading between $ 50 and $ 65 and WTI trading at a modest discount.

While the official goal of the new futures contract is to establish a regional benchmark for more useful pricing of the crude grades prevalent on the Chinese market, analysts see the yuan oil futures as a step toward China seeking wider acceptance of its currency in global trade, including the oil trade, and establishing a petro - yuan that could challenge, in the future, the dominance of the petrodollar.

OPEC, especially its Middle Eastern producers, will be closely watching the futures contract because once established, the Chinese reference crude price could act as a regional benchmark for negotiations of spot or term crude oil prices.

While the market benchmark remains West Texas Intermediate crude delivered in Cushing, Oklahoma, there has been a surge in trading of futures contracts tracking the price differences between WTI and oil sold in Gulf Coast ports like Houston and the Permian shale fields near Midland, Texas.

Brent crude, the benchmark for international oil prices, added 88 cents to $ 46.33 a barrel in London.

But in early March figures revealed that a resurgence in production in US shale fields had increased US crude inventories to record levels, which pushed a leading benchmark for oil prices below US$ 50 per barrel for the first time this year.

Next year, Brent crude, the international price gauge, will average $ 58 a barrel, and West Texas Intermediate, the U.S. oil benchmark, will average $ 54 a barrel, according to 13 banks polled by The Wall Street Journal.

ENERGY: Benchmark U.S. crude oil futures added 28 cents to $ 45.11 in electronic trading in the New York Mercantile Exchange while Brent crude, the benchmark for international oil prices, fell 6 cents to $ 47.20 a barrel iBenchmark U.S. crude oil futures added 28 cents to $ 45.11 in electronic trading in the New York Mercantile Exchange while Brent crude, the benchmark for international oil prices, fell 6 cents to $ 47.20 a barrel ibenchmark for international oil prices, fell 6 cents to $ 47.20 a barrel in London.

This unpleasant picture is presented after a third quarter in which Brent crude, the international benchmark for oil prices, traded at about $ 50 a barrel on average, the lowest sustained levels since the financial crisis.

Oil and gas equities have been underperforming crude oil prices since the middle of 2017, but the outlook for energy stocks deteriorated further in the past two weeks, as major oil benchmarks have declined more than 10 per ceOil and gas equities have been underperforming crude oil prices since the middle of 2017, but the outlook for energy stocks deteriorated further in the past two weeks, as major oil benchmarks have declined more than 10 per ceoil prices since the middle of 2017, but the outlook for energy stocks deteriorated further in the past two weeks, as major oil benchmarks have declined more than 10 per ceoil benchmarks have declined more than 10 per cent.

Similarly, WTI, the benchmark for U.S. crude oil, has seen steadily increasing volumes and open interest for the last several years.

For instance, this year's benchmark for the federal budget is $ 42 but oil now goes for over $ 70 per barrel and instead of paying all the revenues to the Federation Account, the FG still operates an Excess Crude Oil Account contrary to the judgment of the Supreme Court and they spend such funds without recourse to appropriate authorities,» he saoil now goes for over $ 70 per barrel and instead of paying all the revenues to the Federation Account, the FG still operates an Excess Crude Oil Account contrary to the judgment of the Supreme Court and they spend such funds without recourse to appropriate authorities,» he saOil Account contrary to the judgment of the Supreme Court and they spend such funds without recourse to appropriate authorities,» he said.

The economist said that a benchmark oil price of 44.50 dollars per barrel of crude oil was close to the prevalent market rate of 47 dollars per barrel.

Global oil benchmark, Brent crude, which was trading around $ 41 per barrel when the petrol price was increased, stood at $ 55.64 per barrel as of 5.15 pm on Friday.

The Senate equally adopted the oil benchmark of $ 38; Crude production of 2.2000 m barrel per day and the exchange rate of N197 to $ 1 for the implementation of the budget.

The MTEF's crude oil production, benchmark and exchange rate projections for 2017 did not receive the full backing of members.

But while the recent crude price movements have been extraordinary, I still believe that oil prices will, for the most part, remain range bound, with the global benchmark Brent trading between $ 50 and $ 65 and WTI trading at a modest discount.