Oil trades at $90.21, down $3.91 from yesterday

Oil was trading at $90.21 per barrel at 8 a.m. Eastern Time, based on the Brent benchmark, down $3.91 from yesterday morning and about $21.40 above its level a year ago. Prices were $94.12 yesterday, $98.69 one month ago and $68.82 one year ago, representing changes of -4.15%, -8.59% and +31.08%, respectively. Future moves remain uncertain because oil responds to supply and demand, geopolitical developments, recession risks, wars, OPEC+ decisions and energy policy. Crude oil typically accounts for more than half of the price motorists pay at the pump, although refining, wholesale distribution, taxes and gas-station markups also contribute. Gasoline prices often rise quickly when oil advances but decline more slowly when crude falls, a pattern known as "rockets and feathers." The U.S. Strategic Petroleum Reserve, an emergency crude-oil stockpile, is intended to support energy security and cushion supply shocks rather than resolve long-term market problems. Brent is the main global oil benchmark, while West Texas Intermediate is North America's main benchmark. Brent is widely used to track global and historical oil performance, including by the U.S. Energy Information Administration in its Annual Energy Outlook. Historical prices have been shaped by wars, supply cuts, recessions, oversupply, OPEC decisions and changing energy policies. Oil prices may also affect natural gas demand, inflation and the wider economy through energy and transportation costs.

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Oil trades at $90.21, down $3.91 from yesterday - CoinPost Terminal