Oil Prices Tumble on September 17th
Oil prices have declined on September 17th, as reported by Armenpress. The WTI Crude Oil (Light Sweet) price at the NYMEХ Stock Exchange dropped by 1.14% to $101.19 per barrel. Brent Crude Oil price at London's IСE Stock Exchange fell by 1.71% to $103.94 per barrel.
A barrel of oil is equal to 159.98 liters, the standard unit of measurement for oil volume. The NYMEХ, founded in 1882, is a leading US futures market that ranks first in oil futures trade. It operates through two divisions: the NYMEX Division and the COMEX Division.
The NYMEX Division handles trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, while the COMEX Division is responsible for gold, silver, copper, and aluminum. London Intercontinental Exchange (ICE), a leading operator of global exchanges founded in 1982, also reported Brent Crude Oil price drops.