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May 17, 2024 · How Crude Oil Prices are Determined. The price of oil is set in the global marketplace. Oil is traded globally and can move from one market to another easily by ship, pipeline, or barge. As a result, the supply/demand balance determines the price for crude oil around the world.
Western Canadian Select (WCS) is the most important oil price index in Western Canada. The price received by Canadian oil producers is often based on WCS. Limited transportation infrastructure causes a large discount in WCS in relation to West Texas Intermediate (WTI).
Selected Crude Oil Price Daily November 2019 (Canadian dollars per cubic metre) Explanatory Note for Crude Oil Prices. All prices are settlement prices, for delivery in the prompt month. Prices are based on daily closing prices posted on NYMEX in US dollars per barrel.
This dataset is updated once a month and includes monthly end-user total prices for transport fuels in selected countries, based on the IEA Energy Prices database.
Having fallen by 30% since early October, oil prices stabilised with ICE Brent close to $60/bbl and NYMEX WTI at $52/bbl. Weak demand weighed on gasoline and naphtha markets. Freight rates to transport crude and products have soared to multi-year highs.
Oil Price Charts. Oilprice.com, in cooperation with its partners, offers over 150 crude oil blends and indexes from all around the world, providing users with oil price charts, comparison...
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Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.
