The historical light oil price


The price of light crude oil (LCO), is likely to affect the incidents. The Gulf War, which was fought in the Middle East, has become one of the incidents that have caused an increase in raw material costs of light to a higher number. Disasters as hurricane "Katrina" also caused increase light feedstock. In early 2002, light oil price was $ 20 per barrel.

In the wake of Hurricane Katrina, he has risen to more than $ 70 at the end of August 2006. Issue 6 missiles in mid-2008 also caused oil prices to $ 78. For this article, the price of oil varies from 70 to 78 dollars per barrel. May God help the common man in the increase in the crude price, and may God help the United States and Iran to come to a good relationship, because it will reduce the price of oil.

Multi-colored crude signs

In the United States: Trenchantnae designation of heavy and light crude diverge. This is a result of categorization of the raw material, which is mainly based on a practical basis larger than theoretical. New York Mercantile Exchange sets light oil, which is produced in the United States, containing the API gravity, fluctuating between 37 degrees to 47 degrees. It defines light crude oil, which is produced outside the United States, ranging from 32 degrees to 42 degrees.

In Canada: Government of Canada department, which is responsible for energy, which is called NEBC, sets the light oil that has a density of less than 30.1 degrees.

In Mexico: Pemex, representing the Mexican authorities on oil, sets of light products containing certain API gravity of 27 degrees to 38 degrees.