Oil prices moved higher on the world’s major commodity exchanges at the close of trading on September 23.
On the New York-based NYMEX (New York Merchantile Exchange), WTI (Light Sweet) crude rose by 2.25% to $91.39 per barrel.
On London’s ICE (InterContinental Exchange Futures), Brent crude gained 3.78% to reach $102.21 per barrel.
The standard unit of measurement in the oil market is the barrel. One barrel equals 158.98 liters.
NYMEX is a US futures exchange founded in 1882 and is one of the leading venues for oil futures trading. Trading is currently conducted across the NYMEX and COMEX divisions, covering oil, gas, platinum, palladium, ethanol, coal, electricity and carbon dioxide emissions, as well as gold, silver, copper and aluminum.
London Intercontinental Exchange (ICE) is a London-based global financial futures and options exchange founded in 1982.
