Brent oil price, WTI (Light) oil price chart for six months

Brent oil Price, price dynamics chart

Brent oil price chart. Brent oil price for half a year. Graphics, courses prices oil Light. ноябрь, 2020

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Brent oil price, WTI (Light) oil price chart for six months


Today Friday, 27 Nov, 2020 y

oil price dynamics Chart for six months

Brent oil prices,  MICEX and RTS index - General dynamics of the Russian economy.

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Прогноз - теханализ нефть

Main oil grades

there are three main types of oil, based on which the price of all the others is formed. These are WTI, Brent and Dubai oil. A large share of supplies are also oil mix OPEC Basket, Tapis Crude - Singapore, Bonny Light from Nigeria, as well as the Urals grade - Ural oil from Russia.
There are many varieties, so differences and gradations in the properties of oil are used for convenience in pricing and processing, which are used by sellers and buyers of oil.
The prices of different types of oil are slightly different, and sometimes one grade is more expensive than another, primarily due to the cost of delivery and the properties of the oil.

Brent

Brent oil

in Europe, Brent oil is mainly traded, which is a mixture of crude oil from 15 different oil fields in the North sea.
Brent is a major trade classification of sweet light oil that serves as the main price guide for oil purchases around the world. This variety is described as light because of its relatively low density, and sweet because of its low sulfur content. Brent Crude is extracted from the North sea. Brent oil is also known as Brent Blend and London Brent. Brent is the world's leading benchmark for Atlantic basin crude oil prices. It is used to determine the price of two-thirds of the world's international trade in crude oil supplies.
The Brent blend is a light oil (LCO), although not as light as West Texas Intermediate (WTI). It contains approximately 0.37% sulfur, slightly more than in WTI. Brent is suitable for the production of gasoline and diesel fuel.
This oil is traded on the international oil exchange in London and on the Intercontinental exchange. One contract is 1000 barrels, prices are shown in US dollars.
Initially, Brent oil was produced in the Brent oil field. The name "Brent"comes from the name of the Brent offshore fields in the North Sea, which belongs to the United Kingdom, a place of oil exploration and production.
This brand has become a reference due to the reliability of supplies and the willingness to buy it from many consumers, as well as the Brent blend has sufficient liquidity.


WTI - Light oil

WTI (Light) - light oil with a low sulfur content, well suited for the production of gasoline and diesel fuel, used in the United States. Slightly heavier and more sulfur contains Brent oil, but this grade is also considered a high-class oil. Even heavier and contains more sulfur content grade OPEC Basket (a mixture of OPEC varieties, OPEC basket). Because of the difference in density and sulfur content, WTI was initially a dollar or two more expensive than Brent, and another as much more expensive than OPEC Basket.
Oil production in Canada increased significantly, and in North America, the increase in oil production brought the pipeline to full capacity, and soon it began to fail to supply oil to the Gulf coast and East coast markets of North America, and oil was delivered by rail, which is much more expensive than by pipeline.


Graph the price of oil 27.11.2020

Arab Emirates oil

Dubai produces Dubai Crude oil (Fateh), and is almost entirely exported from the country, with the exception of supplies for domestic processing at two plants. Until some time, this was the only freely exported oil, but recently Oman oil has appeared on this market.
For years, most oil producers in the middle East have adopted Dubai and Oman oil prices as a benchmark for selling to the far East, while WTI and Brent are used for exports to the Atlantic basin.

Oil trading on exchanges

the first crude oil futures contracts were traded on the Chicago Mercantile exchange (CBOT) and the new York Mercantile exchange (NYMEX). The original CBOT contracts had problems with delivery, so customers abandoned it on the new York stock exchange.
Crude oil has become the world's most actively traded commodity. To control risks and take advantage of additional trading opportunities in the market, oil is traded in the form of futures and options contracts with the size of 1000 barrels. The contracts provide for the supply of different types of oil and serve the diverse needs of the physical market.
Historically, the difference in oil prices between Brent and other types 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 the price per barrel - about 3 USD / barrel compared to WTI and OPEC basket. However, Brent was later priced much higher than WTI, reaching a difference of more than $ 11 per barrel and later the discrepancy reached $ 16 during a supply glut, record inventories and even later the spread peaked at above $ 23 but soon narrowed to $ 18 after refinery maintenance strengthened and supply problems decreased.
At the moment, the North sea oil reserves are significantly depleted, which also affects the difference in oil grades.

Brent oil price, WTI (Light) oil price chart for six months
chart of Brent oil price dynamics. The cost of WTI (Light) oil for six months. Price chart - Brent oil for 10 years. Latest light oil prices and exchange rates онлайн 27.11.2020


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

the growth of shale energy production in the United States is capable of halving oil imports to the country in the next 10 years. This will lead to a drop in oil prices by several dollars per barrel. The Ministry of Finance considered that a change in world oil prices by $ 1 leads to the loss of the Russian budget of $ 2 billion a year. Reducing oil by a few 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 at 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 is approaching the industrial level of Qatar (more than 750 thousand barrels per day). Complex shale oil production has become a logical extension of shale gas production. Large-scale production of shale oil products began in 2000. In 2010, total investment in this production exceeded $ 21 billion per year.

the increase in energy production has led to a drop in oil and gas prices around the world. In 2012, the price of LNG in the United States was lower than the cost for Russian consumers. Experts believe that Russia has several years left before a 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 encourage the creation of new technologies that can improve the technological and economic efficiency of shale projects. At the same time, the geopolitical course of developed importing countries aimed at reducing import dependence provides state support for these projects. In 2027, the US will be able to produce about 4.5 million barrels of oil daily, or 250 million tons per year. Today, Russia produces more than 520 million tons of oil per year. In 2035, Americans will be able to produce 750 million tons per year on their territory, reducing imports to 30 million tons. By this time, Russia only plans to keep energy production at the current level.

Brent (ICE.Brent)


oil price dynamics Chart for six months. Brent oil price, WTI (Light) oil price chart for six months