Batten down the hatches: West Texas Intermediate is at its lowest point in over a year

Sep 7, 2024

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Drilling in Alberta’s Rocky Mountain Foothills in the late fall of 2014. Photo by Brian Zinchuk

Benchmark oil price West Texas Intermediate indicated US$67.67 closed on Sept. 6, according to BNN Bloomberg and Oilprice.com.

According to BNN Bloomberg’s charts, that’s the lowest point since March 16 of 2023, when it was briefly US$66.74. And you have to go back to before the Ukraine war started, all the way to Dec. 2, 2021, to find another point where WTI was less than the current price today.

Brent closed at US$71.06 on Friday.

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