WTI crude oil traded at $104.1, an increase of $2.12 or 2.08% in the global market. Brent crude oil also reached $113.4 with a rise of $2.63 or 2.37%. According to the latest information, the price of Murban oil was recorded at $114.8 with a delay of 15 minutes, showing an increase of $2.08 or 1.85%.
Energy Carrier and Petroleum Product Rates
Alongside the increase in crude oil prices, the price of natural gas reached $2.898, which was a decrease of $0.054 or 1.83%. Meanwhile, the price of gasoline also rose to $3.156, indicating an increase of $0.068 or 2.21%. Heating Oil was traded at $4.790, with a rise of $0.054 or 1.15%.
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Developments in Oil Basket and Other Prices
Midland WTI oil was sold at $104.8, an increase of $2.26 or 2.200%. The Opec Basket remained unchanged at $112.9, and the Indian Basket was traded at $114.6 at the same previous rate.
These price fluctuations indicate the impacts of economic variables and global policies on the oil and gas market. Given the rising demand and supply constraints, this trend is expected to continue in the near future.
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