Oil Prices Skyrocket with WTI and Brent Gains

Oil prices have seen significant increases on September 1st, according to reports from Armenpress. The WTI Crude Oil price at the NYMEX Stock Exchange rose by 4.63% to $90.70 per barrel, while Brent Crude Oil price at London's ICE Stock Exchange increased by 4.67% to $95.45 per barrel.

The unit of measurement for oil volume is the barrel, which equals 159.98 liters. The NYMEX and ICE exchanges are major players in the global oil futures market, with NYMEX being the largest. It has two divisions: the NYMEX Division, which handles trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, and the COMEX Division, which focuses on gold, silver, copper, and aluminum.