https://padlet.com/s10173798/autjl0c6uog5 Articles with relevant reports en-us 2016-07-15 11:47:10 UTC 2024-04-07 15:45:06 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Brightnessdown.png s10173798 https://padlet.com/s10173798/autjl0c6uog5/wish/116466890 There are 2 most common crude oil that is sold globally. One is West Texas Intermediate and the other North Sea Brent Crude. The difference between these 2 are their producers. WTI is produced in the North America region and is produced on land in the Oklahoma area. Brent, on the other hand, is produced in the North Sea, towards the Britain area.
Crude oil is most of the time labelled as light or heavy, sweet or sour. This refers to their density and sulfur content respectively. A heavy crude shows that the oil has a very high density. Heavy crudes are generally cheaper than their lighter counterparts as heavy crudes are harder to burn in some refineries. A low sulfur content crude would be labelled as sweet. Sweet crudes are more expensive than sour ones as they contain less sufur content in the oil. This will mean less work in the refineries to remove these impurities.
We plan to research on the Brent Crude market from April 2016 to June 2016. Brent crude is labelled as sweet and light when being traded in the market.


]]> 2016-07-15 11:49:15 UTC https://padlet.com/s10173798/autjl0c6uog5/wish/116466890 s10173798 https://padlet.com/s10173798/autjl0c6uog5/wish/116466998 2016-07-15 11:54:13 UTC https://padlet.com/s10173798/autjl0c6uog5/wish/116466998 s10173798 https://padlet.com/s10173798/autjl0c6uog5/wish/116467150 http://www.bbc.com/news/business-36303577
26 May 2016
The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery.
Price per barrel: $50.22
- Brent crude has risen 80% since it hit 13-year lows of below $28 a barrel at the start of the year
- US crude oil inventories fell by 4.2 million barrels to 537.1 million barrels in a week
- Talks between Opec and Russia about freezing oil production encouraged a price rise
- Short-term disruptions to oil supplies have also lifted the price
- Demand has been better than expected from major economies such as China, India and Russia
- Goldman Sachs forecasts oil prices to consistently hit $50 a barrel in the second half of 2016 and $60 by the end of 2017]]> 2016-07-15 12:01:00 UTC https://padlet.com/s10173798/autjl0c6uog5/wish/116467150 s10173798 https://padlet.com/s10173798/autjl0c6uog5/wish/116467168 http://www.channelnewsasia.com/news/business/oil-prices-surge-4-on/2716018.html
21 April 2016
Price is at: US$45.80
- Foresee increased demand globally
- Supply of crude production decreased by 24,000 barrels to 8.95 million barrels a day
- EIA forecasts US production to fall steadily to average 8.6 million barrels a day
- Oil prices fell after oil industry workers in Kuwait called off a strike that began Sunday and had slashed crude and natural gas production by more than half]]> 2016-07-15 12:01:54 UTC https://padlet.com/s10173798/autjl0c6uog5/wish/116467168 s10173798 https://padlet.com/s10173798/autjl0c6uog5/wish/116467203 http://www.cnbc.com/2016/06/24/reuters-america-update-10-oil-prices-plunge-5-percent-as-britain-votes-to-leave-eu.html
24 Jun 2016
Price per barrel: $47.54 (Brent) - Fell 6%
$47.64 (U.S.) - Fell 5%, or $2.47
- Oil prices settle 5% lower after Britain’s vote to leave the EU
- Analysts forecast that Brent is likely to trade down towards $45 or lower and higher risk aversion is likely to make it hard for prices to regain the $50 per barrel mark in anything like the near future]]> 2016-07-15 12:03:27 UTC https://padlet.com/s10173798/autjl0c6uog5/wish/116467203