Spot pricing ANS crude oil.
| Author | Steffens, Michelle |
| Position | Alaska Trends |
Spot market prices provide one measure of the present value of crude oil. A spot price is defined as the current market price of a commodity purchased for immediate delivery. In crude oil markets, prices are typically listed as dollars per barrel.
Alaska North Slope (ANS) crude oil spot prices tend to follow a similar trend as world spot price markets. Crude oil spot prices peaked in June 2008 at $133.78 and $133.88 per barrel for ANS and world markets respectively. By November 2008, prices had returned to early 2007 levels. ANS crude oil was spot priced at $53.94 and world rates were at $57.31 per barrel. On average, ANS crude oil was approximately $1.97...
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