Oil Prices Up - 16-05-18
NEW YORK - LONDON, MAY 17, ARMENPRESS. Oil prices for 16 May:
WTI Crude Oil (Light Sweet) price at NYMEХ Stock Exchange up by 0.82% to $71.73 per barrel. Brent Crude Oil price at London’s IСE Stock Exchange up by 1.35% to $79.39 per barrel.
Barrel is the unit of measurement of oil volume. One barrel equals to 159.98 liter.
New York’s NYMEХ (New York Merchantile Exchange) is a US futures market founded in 1882. It ranks first in oil futures trade. Currently trade is carried out by the exchange’s two divisions, the NYMEX Division and the COMEX Division, the first one designed for trades of oil, gas, platinum, palladium, ethanol, coal, electricity and carbon dioxide emissions, the second one for gold, silver, copper and aluminum.
London Intercontinental Exchange (ICE) is a London-based options exchange and a leading operator of global exchanges founded in 1982.