Oil price Brent, oil price graph WTI (Light) For half a year

Brent oil price, price dynamics graph

Oil price chart Brent. Brent oil price rate for half a year. Charts, oil prices Light.

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Oil price Brent, oil price graph WTI (Light) For half a year

Today Saturday, 26 November, 2022 year

The graph of the dynamics of the oil price rate for six months

Brent oil prices,  MICEX and RTS Index- general dynamics of the Russian economy.

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Forecast - oil technical analysis

Main grades of oil

Exists three main grades of oil, on the basis of which the price for all the others is formed. This WTI, Brent and oil Dubai. Oil mixture also has a large share of supplies. OPEC Basket, Tapis Crude - Singapore, Bonny Light from Nigeria, as well as a variety Urals - Ural oil from Russia.
There are many grades, therefore differences and gradations in oil properties are used for convenience in pricing and refining that are used by sellers and buyers of oil..
The prices of different grades of oil are slightly different, and sometimes one grade is more expensive than another, primarily due to the cost of supply and the properties of the oil..

Brent

Oil Brent

In Europe, it is mainly traded oil Brentwhich is a mixture of crude oil from 15 various oil fields in the North Sea.
Brent is a major trade classification for sweet light crude that serves as the primary price reference for purchases of crude oil around the world. This variety is described as being light from - for its relatively low density, and sweet from - for low sulfur content. Brent Crude mined from the North Sea. Oil Brent also known as Brent Blend и London Brent. Brent is the world s leading benchmark for Atlantic crude oil prices. It is used to determine the price of two-thirds of the world s international trade in the supply of crude oil..
Mixture Brent is a light oil (LCO), although not as easy as West Texas Intermediate (WTI). It contains approximately 0,37% sulfur, slightly more than WTI. Brent suitable for the production of gasoline and diesel.
This oil is traded on the International Petroleum Exchange in London and on the Intercontinental Exchange. One contract is 1000 barrels, prices are in US dollars.
Originally oil Brent produced in an oil field Brent. Name "Brent" comes from the name of the offshore fields Brent in the North Sea, which belongs to Great Britain, an oil exploration and production site.
This brand has become a reference due to the reliability of supplies and the willingness to purchase it from many consumers, as well as a mixture Brent has sufficient liquidity.


Oil WTI - Light

WTI (Light) - easy oil low sulfur, well suited for the production of gasoline and diesel, used in the USA. Slightly heavier and more sulfur contains oil Brent, however, this grade is also considered a high-grade oil. Even heavier and higher in sulfur content OPEC Basket (OPEC blend, OPEC basket). Due to the difference in density and sulfur content WTI was originally a dollar-two more expensive than Brent, and by the same amount more expensive than OPEC Basket.
Oil production in Canada increased significantly, and in North America, the increase in oil production launched the pipeline at full capacity, and soon it became unable to cope with oil supplies to the markets of the Gulf Coast and the east coast of North America and oil began to be supplied by rail, which is much more expensive. than by pipeline.


Oil price chart 26.11.2022

Oil of the Arab Emirates

Oil is produced in Dubai Dubai Crude (Fateh), and is almost entirely exported from the country, with the exception of supplies for internal processing at two factories. Until some time it was the only freely exported oil, but recently Oman oil has appeared on this market..
For many years, most of the oil producers in the Middle East have adopted oil prices from Dubai and Oman as a benchmark for sales to the Far East, while WTI и Brent used for export to the Atlantic Basin.

Oil trading on stock exchanges

First crude oil futures contracts traded on the Chicago Mercantile Exchange (CBOT) and New - York Mercantile Exchange (NYMEX). Initial contracts CBOT had delivery problems, so customers abandoned it on New - York Stock Exchange.
Crude oil has become the world s most actively traded commodity. To control risks and use additional trading opportunities on the market, oil is traded in the form of futures and options contracts in the size of 1000 barrels. Contracts provide for the supply of different grades of oil and serve the diverse needs of the physical market.
Historically difference in oil prices between Brent and other grades of oil was based on physical differences in the characteristics of crude oil and fluctuations in supply and demand. Previously, there was a typical difference in price per barrel - near 3 USD / barrel versus WTI and OPEC baskets. However, later Brent was rated much higher than WTIreaching a difference of more than $ 11 per barrel and later the discrepancy reached $ 16 during oversaturation of supplies, record stocks and even later, the spread peaked at a level above $ 23 but soon dwindled to $ 18 after refinery maintenance was strengthened and supply problems decreased.
At the moment, the oil reserves of the North Sea have been significantly depleted, which also affects the difference in oil grades..

Oil price Brent, oil price graph WTI (Light) For half a year
Oil price dynamics chart Brent. Oil price WTI (Light) For half a year. Price chart - Brent oil for 10 years. online 26.11.2022


The United States will be able to reduce the cost of oil by several dollars per barrel

The growth in the production of shale energy resources in the United States is capable of in the coming 10 years to halve oil imports into the country. This will lead to a drop in oil prices by several dollars per barrel.. The Ministry of Finance considered that the change in world oil prices by 1 dollar leads to loss of the Russian budget 2 billion dollars a year. A decrease in oil by several dollars per barrel threatens Russia even in the long term with big problems, making the development of the Arctic shelf unprofitable. Experts report that today production from the complex shale oil field in North Dakota is more than 500 thousand barrels per day. This figure exceeds the daily oil production in Ecuador and approaches the industrial level of Qatar. (more 750 thousand barrels per day). Complex shale oil production is a logical continuation of shale gas production. Large-scale production of shale oil products began in 2000 year. В 2010 year, the total investment in this production exceeded 21 billion dollars a year.

Increase in energy production led to a drop in oil prices and gas all over the world. В 2012 year the price of LNG in the USA was lower than the price for Russian consumers. Experts believe that Russia has several years left before the real transition to shale oil, after which the country will not be able to compete in this industry in the WTO.. The rate of production of complex shale oil will only increase. High global oil prices stimulate the creation of new technologies that can increase the technological and economic efficiency of shale projects. At the same time, the geopolitical course of developed countries-importers aimed at reducing import dependence provides state support for these projects. В 2027 year, the United States will be able to produce about 4,5 million barrels of oil daily or 250 million tons per year. Today Russia produces over 520 million tons of oil per year. В 2035 year, Americans will be able to mine on their territory 750 million tons per year, reducing imports to 30 million tons. Russia by this time only plans to keep the production of energy resources at the current level.

Brent (ICE.Brent)


The graph of the dynamics of the oil price rate for six months. Oil price Brent, oil price graph WTI (Light) For half a year