Commodities
Oil Prices Plummet on Both Sides of the Atlantic
Oil prices have taken a hit on both sides of the Atlantic, according to recent reports. On August 13th, WTI Crude Oil (Light Sweet) saw its price drop by 1.55% at the NYMEX Stock Exchange in New York, reaching $81.36 per barrel.
Brent Crude Oil also experienced a decline, falling by 1.49% to $87.14 per barrel on London's ICE Stock Exchange.
The NYMEX and ICE are two of the world's major futures markets for oil trading. The NYMEX is one of the oldest, founded in 1882, with its NYMEX Division handling trades of various commodities including oil, gas, platinum, and palladium. London's ICE is a leading options exchange that has been operating since 1982.