LightSweetOil.com

The recession in America has dramatically cut demand for crude oil, and inventories are piling up. The lighter the oil it is, the less processing is needed at a refinery and the costs are lower. Recessions usually bring cheap oil and gasoline. But not now. Crude oil, the lifeblood of the global economy, costs $61.67, [...]

Today’s Oil Price has been developed to help consumers track current oil and gas prices. The crude oil price is now 57.96 dollars a barrel, Crude oil is the world’s most actively traded commodity. Over the past decade. Sweet (low-sulfur) crude oil futures contract has become the world’s most liquid forum for crude oil trading, [...]

A recent low point was reached in January 1999 of $16 (all prices are in US$ per barrel), after increased oil production from Iraq coincided with the Asian financial crisis, which reduced demand. Prices then increased rapidly, more than doubling by September 2000 to $35, then fell until the end of 2001 before steadily increasing, [...]