Oil is rocketing towards $100 per barrel, adding more than $14 per barrel in just a week. At the time of writing, Brent is up more than four percent today and trading at $98.25 per barrel, which marks a $14.02 per barrel increase over its July 16 close of $84.23 per barrel.
The regional price of natural gas produced in the Permian, the top U.S. oil basin, was negative for most of the first half of the year. Rising associated gas output from oil-targeting wells has had nowhere to go.
Curious Minds Corner
What process removes impurities from crude oil by separating it into fractions?