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1. • US$87 a barrel

     • Oil prices saw further gains this week as tensions in the Middle East escalated, propelling WTI crude to around US$87 a barrel, while the global benchmark, Brent, approached US$91, nearing its highest level since October.
     www.bnnbloomberg.ca/oil

     Oil - BNN Bloomberg

2. People also ask

   What is the international benchmark for crude oil?

   • Today the international benchmark is Brent crude from the North Sea. The U.S. benchmark, West Texas Intermediate crude, which for years traded at a discount to Brent, has been close to parity in 2016. The U.S. repealed its 40-year-old ban on exporting crude in December 2015.

   Oil Prices - Bloomberg

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   Why did oil prices rise above $85?

   • Get in Touch Oil prices surged above $85 as a monthslong effort by OPEC+ to reduce supplies gripped the physical market and China showed a new resolve to bolster its economy, a key engine of global crude consumption.

   Latest Oil Prices, Market News and Analysis for Friday September 1

   www.bloomberg.com/news/articles/2023-08-31/latest-oil-market-news-and-analysis-for-friday-september-1

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   Will the oil market be as tight as expected this quarter?

   • While oil demand is healthy, according to the International Energy Agency, the market will not be as tight as expected this quarter. Increased crude output from the US and Brazil are offsetting strong consumption from China, the agency said in a report Tuesday.

   Latest Oil Prices, Market News and Analysis for Nov. 14 - Bloomberg

   www.bloomberg.com/news/articles/2023-11-14/latest-oil-market-news-and-analysis-for-nov-14

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   How did OPEC change oil prices?

   • In the 1980s, OPEC infighting, the emergence of new suppliers and the development of futures exchanges gave rise to new market-based prices. Today the international benchmark is Brent crude from the North Sea. The U.S. benchmark, West Texas Intermediate crude, which for years traded at a discount to Brent, has been close to parity in 2016.

   Oil Prices - Bloomberg

   www.bloomberg.com/quicktake/oil-prices

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   Why did oil prices spike again in 1979?

   • Prices spiked again in 1979 because of the Iranian revolution. In the 1980s, OPEC infighting, the emergence of new suppliers and the development of futures exchanges gave rise to new market-based prices. Today the international benchmark is Brent crude from the North Sea.

   Oil Prices - Bloomberg

   www.bloomberg.com/quicktake/oil-prices

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   Will oil price flare up this year?

   • Claudio Galimberti, head of global oil macro research at Rystad Energy, joins BNN Bloomberg and says we could see flare ups in the oil price this year as demand continues to outpace active supply. Seasonality and low inventories are really helping oil break out past US$80, says Rebecca Babin, senior energy trader at CIBC Private Wealth.

   Oil - BNN Bloomberg

   www.bnnbloomberg.ca/oil

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3. www.bloomberg.com › energyEnergy - Bloomberg

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   Get updated data about energy and oil prices. Find natural gas, emissions, and crude oil price changes.

4. www.bnnbloomberg.ca › oilOil - BNN Bloomberg

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   Oil company earnings underwhelm despite crude price flirting with US$85 a barrel. Oil prices rose this week as tightening supply conditions and ongoing tensions in the Middle East contributed to push prices higher.

5. www.bloomberg.com › news › articlesLatest Oil Prices, Market News and Analysis for June 20 ...

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   Jun 19, 2024 · June 20, 2024 at 12:16 PM PDT. Listen. 1:39. Oil rose as a drawdown in US crude inventories extended a rally that has been supported by a hot streak for equity markets. West Texas Intermediate ...

6. www.bloomberg.com › news › articlesLatest Oil Prices, Market News and Analysis for Friday ...

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   Aug 31, 2023 · Oil prices surged above $85 as a monthslong effort by OPEC+ to reduce supplies gripped the physical market and China showed a new resolve to bolster its economy, a key engine of global crude...

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8. www.bloomberg.com › quicktake › oil-pricesOil Prices - Bloomberg

   www.bloomberg.com › quicktake › oil-prices

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   Apr 8, 2015 · Today the international benchmark is Brent crude from the North Sea. The U.S. benchmark, West Texas Intermediate crude, which for years traded at a discount to Brent, has been close to parity...

   • Video Duration: 6 min

9. www.bloomberg.com › news › articlesLatest Oil Prices, Market News and Analysis for April 26 ...

   www.bloomberg.com › news › articles

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   Apr 25, 2024 · Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks. West Texas Intermediate edged higher to settle just below $84 a barrel...

10. www.bloomberg.com › news › articlesLatest Oil Prices, Market News and Analysis for Nov. 14 ...

    www.bloomberg.com › news › articles

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    Nov 14, 2023 · Updated on. November 14, 2023 at 11:59 AM PST. Listen. 1:36. Oil narrowly held onto a four-day winning streak as investors weighed a mixed supply-and-demand outlook. West Texas Intermediate settled...