Business

Prices of a barrel of Brent and Texas oil today, May 13: how much does it cost and how much is it quoted?

Crude prices soar, erasing losses from earlier in the week. Fears of an EU-driven ban on Russian crude continue to drive prices higher. Diplomats told Reuters that an embargo on Russian crude heading to the EU could be reached this month.

On the other hand, prices have been affected by a series of warnings that there could be a shortage of diesel soon. Also, this week’s news that the Organization of the Petroleum Exporting Countries (OPEC) again failed to produce as its self-imposed production quota added to the bullish factors.

Prices of a barrel of Brent and Texas oil today, May 13: how much does it cost and how much is it quoted?

According to Oil Price Charts, a renowned website that has more than 150 oil indices and mixtures worldwide, this Friday at 1:51 pm ET, the price of Brent rose $3.74, or 3.48 percent, to settle at $111.19 a barrel. In the meantime, US crude West Texas Intermediate (WTI) rose $3.90 dollars, that is, 3.67%, trading at $110.03 a barrel.

It may interest you: What is Fitch, what is its rating system and how does a credit agency work

Over the past 30 days, WTI has gone from a low of $98.54 to a high of $110.36 as the market picks up on market developments that have led to a new high of volatility.

In the meantime, US gas prices continue to hit new highs every day, with a national average of $4,432 per gallon of regular grade gasoline, according to AAA on May 13.

States that register lower prices are: Georgia ($3,954), Kansas ($3,986), Oklahoma ($3,999), Arkansas ($4,013) and Mississippi ($4,018). Meanwhile, the states with the higher prices are California ($5,872), Hawaii ($5,310) and Nevada ($5,136).

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button