WTI crude Oil price today

price Chart for WTI crude oil today, real-time ноябрь, 2020

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Graph dynamics of prices of WTI crude oil today

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oil price

Movements in the price of WTI oil futures on the market are quite volatile (sweeping) and you can make money on this by betting on an increase or decrease in quotes. Crude oil is one of the most widely used and actively traded commodities in the world. The price of futures on the market is represented in dollars, and they are traded on international commodity exchanges. More and more often, Forex companies are offering new tools derived from the price of oil, which you can also play and speculate on.

Oil is oil everywhere, but oil grades have important differences. The main ones are the density and content of sulfur, which can be important for buyers and sellers. According to the new standards, the sulfur content in gasoline should be much lower as a percentage than in crude oil. Reducing the percentage of sulfur is quite a difficult task, and for the production of gasoline and diesel fuel, oil grades with as little sulfur as possible are more suitable.




Oil is conventionally called sweet and sour. The lower the sulfur content in oil, the more sweet it is. Acidic oil has a high content of sulfur.
A light, sweet grade of oil is more expensive than a heavy and more acidic grade because it includes less processing and produces products with a higher percentage of refining efficiency and lower costs and added value, such as gasoline, diesel, and aviation fuel. Heavy oil and, as a rule, more acidic crude oil are sold cheaper than lighter, sweeter oil, since it includes additional processing to get lighter products from it.
Crude oil is used to produce gasoline, kerosene, liquefied gas, diesel fuel, lubricants, synthetic rubber, mineral fertilizers, etc.


Oil from Russia

Urals Crude Oil - a mixture (a mixture of heavy and high-grade Urals oil, with light oil of Western Siberia, with an API density of approximately 32 and a sulfur content of about 1.2%), produced in the Khanty-Mansi Autonomous Okrug, Bashkortostan and Tatarstan. This oil is supplied via the Baku-Novorossiysk pipeline and the Druzhba pipeline system . The world's largest Urals oil producers are Rosneft, LUKOIL, Gazprom Neft and Tatneft . Urals oil futures are listed on the Russian RTS stock exchange. On the new York Mercantile exchange NYMEX "Ural" it is known as REBCO and is traded under the Ticker symbol RE, in US dollars per barrel. The largest consumersn oil are Italy and Rotterdam, the Netherlands.

WTI oil (Light)

West Texas Intermediate (WTI) otherwise known as Texas Light Sweet and shipped from Texas and Mexico. This oil contains a small amount of sulfur and density. The sulfur content is about 0.24%, and the density is 39.6 units, and this oil is considered sweet and light oil. Refining of this oil is usually done in the Persian Gulf regions, as well as the United States due to the closest location to oil reserves. Light Sweet Crude Oil (WTI) is traded on the NYMEX under the Ticker CL. WTI crude oil is traded in the form of futures and options, which is a tool for high liquidity trading on commodity exchanges.

Dubai grade oil

the Emirate of Dubai from the United Arab Emirates is one of the largest oil suppliers, as a result, another standard of the Dubai oil grade has appeared. The density of this grade of crude oil is 31 units on the scale, and the sulfur content is 2%



Brent

Brent got Its name from the area of the same name on the shelves in the North sea, which belongs to great Britain. In this region, oil reserves have been significantly depleted and supplies to the nearest areas have slightly increased in price. However, Brent oil is still the benchmark for oil and serves as a benchmark for pricing other grades, the price of which differs somewhat from them by the spread of prices for different grades of oil. Brent oil is also a benchmark due to its wide availability and ability to continuously develop, as well as the possibility of including new brands. Today, up to two-thirds of the world's oil reserves at a price relative to Brent, Brent is called sweet oil, which contains 0.37% sulfur and 38 density units. Brent crude oil is widely used for processing into gasoline and diesel fuel.
Brent is traded on the electronic Intercontinental Exchange (ICE) under the LCO Ticker in US dollars.
Although Brent is considered a light oil, it is not as light as WTI.

OPEC basket

OPEC Basket oil comes from Bonny Light (Nigeria), Arab countries (Saudi Arabia), Basra (Iraq), Algeria and Indonesia.

The main oil importers are the United States, China, Japan, and Germany. Among the main exporters are Saudi Arabia, Russia, Iran, and the United Arab Emirates.

the Price of oil today 26.11.2020


Two years ago, we felt all the consequences of the fall in oil prices. For Russia, the low cost of oil, like natural disasters, is destructive and unpredictable. And if so, it is clearly not friendly with the prosperity of the country. However, not all countries suffer when the price of oil falls. And even quite the opposite, large oil importers are gaining an incredible boost for a while in terms of free and additional funds. This means that there are many interests and many forces on the other side. Take the United States. A good example of a powerful and very large interest in low oil prices. Money, as no one knows, has never been enough, and the United States is no exception, which simply inflated to an unprecedented size the item of expenditure on the army, social spending and other budget items, a huge internal and external debt. And here one sharp drop in oil solves multibillion-dollar problems, because there would be money, and America can act, unlike the clumsy developing countries.

Disadvantages of low oil prices for the US

however, things are not Going smoothly for the US either. The lowest prices for WTI oil literally tie the hands and feet of developers of shale oil production in this country, which is absolutely unthinkable to extract at such prices, because the cost of developing and extracting from shale deposits is much higher than the cost of oil production in other ways. However, during the period of high oil prices, many shale oil fields were still successfully developed and put into operation, which filled even more US storage facilities, which also contributed to the first reversal, and then the rapid fall in WTI oil prices. And this is despite the fact that global oil consumption is only increasing. It is no secret that alternative energy sources, of which Europe is a major proponent, are still expensive and account for a very small percentage of total energy consumption.


WTI crude Oil price today


It is possible that there is a whole system and organizations that closely monitor the situation on the oil market, prices and oil trading, and that are puzzled how to influence the price on a large scale downward. This is the most important factor in oil pricing, along with what is openly presented in the media.

Pressure of low oil prices on Russia

Everything is exactly the opposite for the comfort of the Russian budget. The falling prices for WTI crude oil it can seriously bleed the body of the Russian economy, despite the gold and foreign exchange reserves. The sale of energy to replenish the budget for more than half a year. Just calculate what the country will miss if the price of oil falls by at least $ 5 per barrel, let alone such steep drops. Russia generally does not benefit from large volatility in the price of oil futures and options, because this complicates calculations. Even a sharp increase leads to some imbalances, because free resources are always profitable to put into action, and not to collect in a sock, what can we say about sharp drops. The low price of WTI oil is accompanied by a fall in the ruble, inflating interest rates in order to keep inflation down. The standard of living of the population is falling, and purchasing power is falling. Imported goods are becoming too expensive, including not only consumer goods, but also important goods for the country's strategic development and stability.

oil Price today and dollar to ruble exchange rate. Chart of oil price dynamics for today, in real time online 26.11.2020


Oil and the ruble

not so long ago, Russia kept the ruble exchange rate at a very stable level, and the ruble became a significant part of the basket of currenciesn business and large investors to save capital, to create a monetary cushion in business and the economy. The increase in interest rates in Russia severely restricts business opportunities, the ability to move and use capital. Business can no longer afford to make tangible investments and invest in development, which means that the crisis will not contribute to the development of areas of the economy other than the oil and gas sector. Oil is added to the fire by sanctions that are not only intended to put pressure on the country...

the oil price Crisis has affected many countries

other oil - exporting countries are also Suffering significantly. One of the countries in the spotlight during the oil crisis is Venezuela, where more than half of all revenues also came from oil exports. On the basis of petrodollars in this country, social spending has increased, which there is no way not to support - until recently, social unrest and riots broke out in this country, when there were victims.

Many exporting countries of course have a large reserve Fund, but no one even guessed that oil prices could fall so low, and moreover, not for a short time, but for a fairly long period of time. One can only guess how critical to stability the pockets of these countries are empty.

And although many countries say that low WTI oil prices stimulate the development of other areas of the economy, the best thing they should do now is to enter the phase of the highest discipline on spending, to restore order in the budget, and in other words - to cut off left - wing leaks from the budget and force many serious shaken consumers from the state Treasury to do their job, as well as to strengthen state financial organizations and banks.

Graph dynamics of prices of WTI crude oil today. WTI crude Oil price today