The price of light crude oil (LCO) is likely to be affected by incidents. The Gulf War, fought in the Middle East, was one of the incidents that caused a sharp rise in the price of light commodity. Disasters such as Hurricane Katrina also caused an increase in light raw material. In early 2002, the price of light oil was $ 20 a barrel.
It rose to over $ 70 at the end of August 2006 after Hurricane Katrina. The release of 6 rockets in mid-2008 also caused the price of oil to rise to $ 78. When writing this article, the price of oil fluctuates in the range of $ 70 to $ 78 a barrel. May God help the common man in raising the price of light oil, and may God help the United States and Iran to achieve good conditions, because this will reduce the prices of crude oil.
Different tissues of crude oil
In the US: The momentary indication of severe and mild raw differences. This is the result of the categorization of raw material, which is based mainly on practical basics, more than theoretical ones. The New York Stock Exchange defines light oil that is produced in the United States, containing API gravity ranging from 37 degrees to 47 degrees. It defines light crude oil that is produced outside the United States, ranging from 32 degrees to 42 degrees.
In Canada: The Government of Canada, in charge of energy, called NEBC, defines light oil as it has a density lower than 30.1 degrees.
In Mexico: Pemex, which is the Mexican government's own oil agency, defines light oil as containing API specific gravity from 27 degrees to 38 degrees.