TODAY IN ENERGY: Wednesday, March 28, 2012
On a euro basis, Brent crude oil spot price surpasses prior record high
On a euro basis, the spot price for Brent crude oil has surpassed its prior record high and set a new record high of 96.53 euros per barrel on March 13, 2012, as the currency exchange rate has declined (see chart below). The prior record of 92.76 euros per barrel was set on July 3, 2008. However, on a U.S. dollar basis, the spot price for Brent crude oil remains under the prior record high of $145.66 per barrel, which was set on July 3, 2008.