Oil prices jump on world markets
The price of oil continues to rise in the world markets.
On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.59 to stand at $46.34. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) raised $1.06 to trade at $49.41.
The price of a barrel of Azeri Light crude oil increased $2.89 to stand at $52.02 at the London market.
The average spot price for nine varieties of oil brands (including North American) on September 28 – October 2 amounted to $45.31 per barrel.
The highest average spot price was observed on Bonny Light oil produced in Nigeria, which amounted to $48.04 per barrel. The density of Bonny Light, used to determine the price of other brands of oil exports in the Gulf, is 33.4-degrees API with a 0.16-percent sulfur content.
The average spot price for North Sea Forties was at $47.02 per barrel last week. Forties has a low sulfur content and high potential to produce gasoline. Its density is about 40.3-degrees API with a 0.56-percent sulfur content.
The average price of Brent last week amounted $46.99 per barrel. Brent Dated's density is 38.6-39 -degrees API, with up to 1-percent sulfur content.
The average spot price for the American WTS crude oil last week amounted to $45.8 per barrel. The density of WTS is not less than 30 degrees-API with a 2.5-percent sulfur content.
The lowest average spot price was observed for the American Mars, which amounted to $41.33 per barrel. Mars's density is 28.9-degrees API with a 2.05-percent sulfur content.
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