1 Barrel = 42 Gallons Oil (WTI) Price Per 1 Gallon 1.74 USD 1 Barrel ... For the purposes of trading on futures exchanges in London or New York, however, reference oils are used.
1,000 barrels of oil are generally included in a futures contract, with each barrel containing 55 gallons of oil. Most price speculators don’t have space to store 55,000 gallons of oil and ...
1303 GMT – Oilprices rise, with Brent crude and WTI both up 0.5% to $78.70 a barrel and $74.98 a barrel, respectively. The gains, however, likely reflect a technical correction as both Brent ...