Hey Moderators!!

[TEXASMUNK]

How about a new sticky????

 

Every day you guys post the price of West Texas Crude...the daily closing price!

[aurelius180]

How about a new sticky????

 

Every day you guys post the price of West Texas Crude...the daily closing price!

 

 

Not a bad idea! But to make it easier on them a post on the really important quarterly closing days? :o

[derf5585]

West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts.

This oil type is often referenced in North American news reports about oil prices, alongside North Sea Brent Crude. Other important oil markers include the Dubai Crude and the OPEC Reference Basket.

from

http://en.wikipedia.org/wiki/West_Texas_Intermediate

 

Chart

from

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/commodities/28698/default.stm

 

Oct 2008 $89

from

http://www.forecasts.org/oil.htm

[derf5585]

It's actually Heavy Fuel Oil - petroleum-based fuel which contains the undistilled residue from atmospheric or vacuum distillation of crude oil. It is also known as, Bunker Fuel Oil or No. 6 Fuel Oil.

In Alaska and other ecologically sensitive areas we burn HFO with a low sulphur content (ie, cleaner but more expensive) to cut down on emissions.

Some cruise ships also have gas turbine engines, and they run on Gas oil, a high grade oil thats rather expensive (our gas turbine costs about $10,000 an hour to run on max)

from

http://in.answers.yahoo.com/question/index?qid=20070126070438AAwQM6P