Description: XR Oil Price is a web site with daily oil price. the crude oil price, price for a barrel of oil, oil prices, oil drilling information, oil exploration information, lists of top oil commpanies, oil recycling and more.
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Closing Spot Prices for 1 Barrel of Crude Oil in USD Dollars. 1 Barrel = 42 US Gallons = 159 Liters Last Updated: Fri, 07-07-2023 12:47 (+5 GMT) Country Currency ISO 07/07/23 07/06/23 Change UNITED STATES US Dollar USD 71.80 71.79 +0.0154% Last Updated: Fri, 07-07-2023 12:47 (+5 GMT) Welcome to XR Oil Price.com ! Oil is a commodity that can be traded. Commodities are resources and agricultural products such as crude oil, ethanol, coal, iron ore, salt, sugar, soybeans, coffee beans, wheat, rice, gold, silver
Many people around the world trade oil. Trading oil is similar to trading currency, metals, or any other commodity. There are oil futures and there are oil options.
An oil futures contract is a standardized contract traded on a futures exchange, to buy or sell a specific quantity of oil at a future date. In other words, oil futures are contracts to buy or sell at a specific date in the future at a price specified today. The future date is called the delivery date or final settlement date. The "official price" of the futures contract at the end of a day's trading on an exchange is called the settlement price for that specific day.