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- The once-in-a-century pandemic caused oil demand to collapse at an unfathomable pace. Supply swelled as Saudi Arabia and Russia engaged in a price war at the worst possible moment. That toxic backdrop drove oil prices below zero — well below, in fact — for the first time in history.
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Apr 19, 2021 · The one-day plunge was the largest based on records going back to 1983, and the settlement was the lowest on record, according to Dow Jones Market Data, marking the first and only time a contract...
- mpicache@marketwatch.com
The current month is updated on an hourly basis with today's latest value. The current price of WTI crude oil as of June 28, 2024 is $82.64 per barrel. Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946.
YearAverageclosing PriceYear OpenYear High2024$78.82$71.65$87.012023$77.64$80.26$93.842022$94.53$76.08$123.702021$68.17$47.62$84.65Apr 20, 2021 · The epic supply glut at the heart of negative oil is all but gone. Oil inventories in developed economies spiked to a record 3.2 billion barrels in August, according to the International Energy...
Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of 9.3%. You’re seeing crude oil demand into China going down.
Apr 13, 2022 · In 2020, oil prices plunged to a negative value in the wake of an abrupt drop in worldwide demand. Prices have soared past pre-pandemic levels, thanks in part to Russia's invasion of Ukraine. Russia is one of the world's largest oil exporters.
- Kimberly Amadeo
Apr 21, 2021 · Analysts have said the development was driven in part by the sudden drop in demand for the commodity because of the COVID-19 pandemic, as well as by a price war between Russia and Saudi Arabia....
Nov 7, 2023 · China trade data show that the country imported 13.5% more crude in October than a year ago, according to news reports, but the year-ago figure was low due to coronavirus restrictions...
