What Is the Base Price for Oil?

What is the base price for oil? Specifically, today we will discuss crude oil, and we can apply this understanding to other commodities as well.

I won't go into too much technical detail about the difference between the base price and the cost price for crude oil, but for most people, it helps to see the title as “Is there a bottom-line price or support level for crude oil?”

My answer is yes, and this is due to inflation. Over time, we tend to pay higher prices for food, gas and many others that we consume.

WTI Crude Oil Futures & Options
Ticker: MCL
Minimum fluctuation:
0.01 per barrel = $1.00

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