The real-time price of Brent crude oil is at $70.38 per barrel, and the price of WTI crude oil is at $67.05 per barrel. Oil prices are customarily quoted in dollars (USD) around the world, not only in ...

Definition: Clearing price is that price of a commodity or a security at which the market clears a commodity or a security. Quantity supplied is equal to quantity demanded and buyers and sellers ...

Definition: Reference price is also known as competitive pricing, because here the product is sold just below the price of a competitor’s product. Reference price is the cost at which a manufacturer ...