oil price
Crude barrel value
Oil price is the cost of crude oil on global commodity markets, typically quoted per barrel.
It fluctuates based on supply, demand, geopolitics, and speculation.
Oil prices spiked after the embargo.
Because petroleum underlies so much economic activity, the oil price functions as a barometer for inflation, transportation costs, and broader market sentiment.
- refineriesFacilities that purify raw materials
- inflationSustained price level increase
- OPECPetroleum exporters' coalition
- carbon emissionsReleased greenhouse gases
- exchange ratesCurrency conversion values
embargoes · drilling rigs · sanctions · Brent · futures contracts · production quotas · petrodollar · market speculation · strategic reserves · volatility · trade wars · barrel · commodity markets · green technologies · interest rates · offshore platforms · gasoline · fossil fuels
- market datavolume, bid, ask, spread, open
- fuel costspremium gas, regular gas, unleaded, gas bill, fuel surcharge
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- financebank, CFO, banks, controller, finance
oil pricefixed price
Predetermined, unvarying cost
price stability · price ceiling · price controls · price floor
oil, price, oily, oils, priced, pricing, overpriced, petroleum, vegetable oil