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Oil

   Current Crude Oil Price per Barrel
Crude  Dollars ($) Bitcoin (฿) Gold (toz)
WTI $62 ฿0.00073816 0.02 toz
Brent $65.65 ฿0.00078162 0.022 toz
Oil, also known as crude oil, is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. It is a fossil fuel that is formed over millions of years through the decomposition and transformation of organic matter, primarily microscopic marine organisms like plankton and algae.

Here are some key characteristics and components of crude oil:

  1. Composition: Crude oil is primarily composed of hydrocarbons, which are organic compounds made up of hydrogen and carbon atoms. These hydrocarbons can exist in various forms, including alkanes, alkenes, and aromatics.
  2. Color and Viscosity: Crude oil can range in color from light yellow to black, and its viscosity (thickness) varies widely. The viscosity is influenced by the composition of the oil, with lighter oils being more fluid and easier to pump, while heavier oils are more viscous.
  3. Density: Crude oil has different densities depending on its composition. The industry commonly categorizes crude oils as light, medium, or heavy based on their density.
  4. Sulfur Content: Crude oils can also vary in sulfur content. Some crude oils are referred to as "sweet" if they have low sulfur content, while others are called "sour" if they contain higher levels of sulfur.
  5. Impurities: Crude oil may contain impurities such as water, salts, and other non-hydrocarbon compounds. These impurities can have economic and environmental implications and are typically removed during the refining process.

Crude oil serves as the raw material for the production of various petroleum products through a refining process. The refining process separates and transforms the different components of crude oil into products such as gasoline, diesel fuel, jet fuel, lubricants, and petrochemical feedstocks used in the production of plastics and other materials.

The global economy heavily relies on crude oil and its refined products for energy and as feedstocks for a wide range of industries. The extraction, transportation, refining, and utilization of crude oil play a significant role in the energy sector and have widespread economic and geopolitical implications.

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