Oil prices saw gains on July 25th as WTI Crude Oil (Light Sweet) on the NYMEX Stock Exchange rose by 1.92% to $78.46 per barrel, while Brent Crude Oil on London’s ICE Stock Exchange increased by 1.79% to $82.54 per barrel. A barrel, the standard unit of oil measurement, equates to approximately 159.98 liters.
The NYMEX (New York Mercantile Exchange), established in 1882, is the foremost U.S. futures market, prominently trading oil futures among other commodities. It operates through two divisions: the NYMEX Division handles trades involving oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, while the COMEX Division focuses on gold, silver, copper, and aluminum.
The London Intercontinental Exchange (ICE), founded in 1982, is a prominent options exchange headquartered in London, recognized for operating global exchanges.
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