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Crude oil prices for June delivery topped $60/bbl on the New York market May 5, and the upward momentum continued in early trading May 6 when prices reached $62/bbl for the first time since December 2014.
Crude oil prices for June delivery dropped modestly on the New York market on Apr. 22 to remain above $56/bbl for June delivery following another reported increase in US oil and product inventories. Meanwhile, statistics indicated slower manufacturing activity in China, a major oil consumer, last
Crude oil prices fell below $61/bbl for January delivery on the New York market Dec. 10 after the Organization of Petroleum Exporting Countries lowered its 2015 world oil demand growth forecast and after a weekly US government report showed a build in crude oil supplies.
Brent crude oil prices dropped more than $1/bbl but still hovered above $80/bbl in Nov. 12 settlement prices for December and January 2015 delivery while prices for US light, sweet crude dropped more than 70Â¢/bbl on the New York market.
Crude oil prices fell only slightly on the New York market Oct. 20 after the US light, sweet crude benchmark tumbled much of last week and has been down for 3 consecutive weeks while Brent crude oil prices have declined on the London market for 4 consecutive weeks.
Crude oil prices fell only slightly on the New York market Oct. 15 after plunging the previous day. Brent crude oil prices fell by more than $1/bbl on Oct. 15, and the average for the Organization of Petroleum Exporting Countries basket dropped more than $3/bbl.
Crude oil prices on the New York market jumped by more than $2/bbl Feb. 12 to settle above $51/bbl, which analysts attributed to more oil and gas companies cutting their budgets as well as an announced ceasefire agreement between Russia separatists and Ukrainian forces.
Crude oil prices extended their slump on the New York market with a Dec. 11 settlement of less than $60/bbl for January, and prices continued downward in early Dec. 12 trading after the International Energy Agency cut its global oil demand growth forecast for 2015.
Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl.
Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl. Compared with the volatility seen as recently as 2 years ago when Brent spot prices ranged as high as $125/bbl in March 2012 to as low as $95/bbl in June