Fortune· 2h ago· 1 min read
At 5:35 a.m. Eastern Time today, oil was priced at $97.04 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That's a drop of $1.45 compared with yesterday morning and around $27.50 higher than the price one year ago.
Oil price per barrel % Change Price of oil yesterday $98.49 -1.47% Price of oil 1 month ago $77.50 +25.21% Price of oil 1 year ago $69.51 +39.60%
Will oil prices go up?
It’s impossible to forecast oil prices with detailed precision. Many different elements affect the market, but ultimately it boils down to supply and demand. When worries about economic recession, war, and other large-scale disruptions increase, oil's path can shift fast.
How oil prices translate to gas pump prices
Gas prices at the pump don't only track crude oil. They also include what it takes to refine and move that fuel, the taxes layered on…
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