This graph displays the spot price for West Texas Intermediate and Brent crudes between 1990 and 2017. In 2017, the average spot price for West Texas Intermediate crude oil came to just under USD per barrel. Brent is a sweet light crude that often used in the manufacture of gasoline. Consequently, Brent is a crucial contributor to gasoline prices. Gas prices in Europe, particularly Norway, are counted among the highest worldwide.
Crude oil spot prices
The world’s growing thirst for oil is likely to create disequilibrium between crude supply and demand, thus triggering price fluctuations at stock exchanges around the globe.
