S petroleum benchmark known as west texas

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Unformatted text preview: n $70 and $110 per barrel. During the first half of 2011, the monthly spot average was often above $90 per barrel. This is in contrast to the average 2009 WTI spot price VALUE OF COLORADO NATURAL RESOURCES AND MINING 16,000 14,000 12,000 10,000 8,000 6,000 Natural Gas Crude Oil Carbon Dioxide Coal Minerals 4,000 2,000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 Sources: Colorado Geological Survey Mineral and Minerals Fuel Activity Reports, Colorado Oil and Gas Conservation Commission, Department of Minerals and Geology, and Colorado Business Economic Outlook Committee. 2012 (F) 2012 Colorado Business Economic Outlook of close to $60 per barrel. Colorado crude oil is typically sold at a discount to WTI due to market demand considerations. For the first three quarters of 2011, the Colorado weighted average per barrel of oil was $88.14 based on data from the Colorado Oil and Gas Conservation Commission (COGCC), while the WTI spot price was $91.38 per barrel. The future price of oil for Colorado will depend on the pace of global recovery, as well as chan...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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