Commodities
Oil Prices Surge on NYMEX and ICE Exchanges
Oil prices have seen an uptick in recent trading sessions. According to market reports, WTI Crude Oil (Light Sweet) price at NYMEX Stock Exchange has risen by 1.55% to $83.12 per barrel. Meanwhile, Brent Crude Oil price at London's ICE Stock Exchange has increased by 2.04% to $89.20 per barrel.
A barrel of oil is a standard unit of measurement for oil volume, equivalent to 159.98 liters. The NYMEX and ICE are leading exchanges in the oil futures market, with the former being a US-based market founded in 1882 and ranking first in oil futures trade.