Sentences with phrase «oil benchmark price»

Earlier, the presidency had placed oil benchmark price at $ 40 per barrel, while oil price has fallen to $ 30 dollars.

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.

A hairline crack on a single pipeline has exposed the vulnerability of Dated Brent, the world's most widely used oil benchmark price

To that end, reports indicate that China is set to introduce an oil benchmark priced in yuan in the coming months.

Not exact matches

Our energy sector has been hurt partly by low natural gas prices and the discount placed on Canadian oil compared to world benchmarks, but gas and oil prices have generally been flat or on the rise.

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.

The Bank of Canada said nothing in public about the possible merits of deficit spending as it twice cut its benchmark interest rate last year to offset the collapse of oil prices.

In the oil markets, prices dropped back from $ 90 amid some profit - taking — benchmark oil for October delivery was down $ 1.03 to $ 89.18 per barrel in electronic trading on the New York Mercantile Exchange.

And then oil prices crashed, forcing Poloz to drop his already low benchmark interest rate another half point in 2015 to avoid another deep recession.

The price of a barrel of oil, using the WTI benchmark, rose from $ 29.70 to $ 76.32 from mid-2000 to mid-2010, an increase of 157 % in only 10 years.

Oil prices slipped away from 2018 highs on Thursday, with global benchmark Brent trading at $ 71.15 in early afternoon deals, down 0.8 percent, and WTI trading at $ 66.38, around 0.6 percent lower.

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.

While we haven't yet got to the point where Canadian oil production is literally stranded — shut down for lack of a place to store, let alone ship it — our product is selling for far less than the North American and world benchmark prices that continue to make filling up your car an expensive proposition.

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.

Benchmark 10 - year Treasury prices dipped on Wednesday as a recovery in oil prices helped stocks move higher.

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.»

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

The Shanghai oil futures contract is similarly designed to wrest some control over pricing from the main benchmarks in New York and London — West Texas Intermediate (WTI) and Brent — and to promote the use of the yuan, also known as the renminbi.

Moving viscous Canadian oil in tank cars used to be «more of a temporary fix» to transportation bottlenecks that earlier this year pushed prices for Western Canada Select to US$ 40 below the West Texas intermediate benchmark, he said.

Priced in yuan and traded on the Shanghai International Energy Exchange, it's the first such Asian benchmark for oil deals.

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.

With Shell's output up 2 percent at 3.8 million barrels of oil equivalent per day (boe / d) and Total's production rising 5 percent to 2.7 million boe / d in the quarter, both were well positioned to capture the price upswing in benchmark oil prices.

The difference between Brent and a barrel of Western Canadian Select, the benchmark price for oil sands product, was even more significant, a fact that had caused considerable hand wringing in downtown Calgary as well as on Parliament Hill.

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.

When Goldman Sachs and Citibank talk about oil prices, they're referring to the price of West Texas Intermediate, the benchmark prices of U.S. oil.

Following a January rally, the global commodities complex underwent declines in February before partially recovering in March; for the first quarter as a whole, the benchmark Thomson Reuters CoreCommodity CRB Index (CRB) gained 0.8 % on a price - only basis.1 Among the 19 component commodities tracked by the CRB, advancers had a slight edge over decliners, buoyed by growth in global economies and weakness in the trade - weighted US dollar, which retreated 2.1 %, according to the Federal Reserve's (Fed's) US Dollar Index.1 Aside from robust gains for a host of agricultural products, oil and gold were also among the commodity winners.

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.

In the last year, the spread between what a barrel of oil is worth in the Midwest (called WTI — which is usually the oil price you see on the nightly news) and what it's worth either on the Gulf Coast (LLS) or when shipped to Europe (called Brent — which is generally used as a benchmark for world prices) has widened to historic levels.

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.

Likewise, a marginal bond selloff will push yields on 10 - year Treasurys to 2.57 % and U.S. benchmark oil prices will be $ 50.20 a barrel or barely changed.

Since 1999, the price of West Texas Intermediate — one of the price benchmarks for oil used today in the market — has jumped by nearly 700 %, reaching a peak of $ 147 in 2008.

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.

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.

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

The leading non-US benchmark for oil prices reached its highest level for more than two years, as Turkey threatened to disrupt supplies from Kurdish oilfields in northern Iraq in response to the autonomous Kurdish region's referendum on independence.

Nevertheless, US benchmarks were less volatile, as US shale oil production continued to increase in response to higher global prices, while US oil exports reached record levels.

Historically, such widespread unrest would have caused global oil prices to march higher, but instead of rising against the backdrop of heightened geopolitical risks, Brent, the global price benchmark, has recently sunk below $ 100 a barrel.

Enter the March contract, which the benchmark oil price flashing around the world now began to track.