A lot of people say, the industry should stop hauling and using crude oil. The say, we should protect our planet, save the nature and live an ecological life. In fact, they are right. We all saw the catastrophe last year in the Gulf of Mexico, we all know the gravity of the damages.
As reported some days before, the oil prices decrease constantly. On 09 May the barrel was by $99.80, but on this week it reached almost $98 per barrel. According to EIA the prices of oil and gasoline will keep decline in the following days. This result is much lower, as the statisticts expected.
The prices for Crude Oil (american) was reported to be handled below $100 per barrel in New York on friday. The price ended at $99.80 per barrel by the end of the day. This is reportedly the first time since march that the price has been below $100 and the decrease in the price is a notable $9.44 (8.6%)
This is now the fourth day where crude oil has continued to trade with downside tendencies. After yesterday's drop it is now steady below $110 per barrel. In Asia crude oil futures has fluctuated this morning. Trading low at $108.42 a barrel and currently trading at roughly $109.17.
In the current news, crude oil prices has increased with 20% in the last quarter, this whilst Brent Crude has risen 38%. The increase in the price has been triggered by the improving demand for fuel. Many companies are now trying to speed up the search for oil and natural gas with a high liquid content.
There are a few different definitions of what Crude Oil really is. In simple terms, Crude Oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface.
Crude Oil prices is the best place to look for World crude oil prices. We have updated information about the latest changes and shifts in the crude oil situation. Charts and graphs and statitistical data is provided to make it easy to find the information you're looking for.