Word: bbl
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Dates: during 1930-1939
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...exchanges were exciting markets during the last quarter of the 19th Century. The Oil City, Pa. Exchange boasted a hectic day in 1884 when 29,006,000 bbl. of crude were sold. But trading was precarious when crude prices, notoriously unstable, often jumped from $2.75 a bbl. one year to $20 the next. When the Oil City Exchange, last of the big markets, closed in 1892, oil became the third of U. S. industry's most basic commodities not traded on any exchange...
...when the New York Commodity Exchange inaugurated trading in crude oil and gasoline futures, giving oil traders a chance to protect themselves against price changes by hedging. Selected as the basic oil for exchange contracts was mid-continent crude of 36 gravity which has been quoted at $1 per bbl. since September 1933. Sales for the first day were 14,000 bbl. at from $1.18 for July delivery to $1.25 for June delivery. Gasoline sold at from 5.78? to 5.98? per gal. Trading in oil and gasoline brought the number of commodities bought & sold on U. S. Exchanges...
...advice of the Tariff Commission President Roosevelt cut the duty on imported beer from $31 to $15.50 per bbl. That still left the rate $10.50 per bbl. higher than the tax on domestic beer...
When the Supreme Court invalidated Section 9c of NIRA last fortnight, it was dourly predicted that the oil industry would swiftly revert to pre-Rooseveltian chaos, that a flood of East Texas "hot oil" would sweep the price of crude down from $1 per bbl...
Meantime the industry tossed in secret strife over the price of crude oil which has been $1 per bbl. for a year. After a few small buyers boldly chopped the posted price to 60?, Col. Thompson swore that the Texas Railroad Commission would shut down every well in the State if the major companies followed suit...