First-nearby crude futures contracts, also known as the spot month contract, closed at just over $80 per barrel on the last day of trading in 2022. What might be in store for 2023?
The U.S. benchmark crude oil price, most visibly seen in the CME Group West Texas Intermediate (WTI) Light Sweet Crude Oil futures contract price, settled out 2022 at $80.26 a barrel for the February 2023 contract, which is currently the spot month.
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