Hey kids, did you know that the price of oil can go up and down? This news is about oil prices in the U.S., specifically in Texas and other places. It's a bit like how the price of your favorite candy can change!
- Texas oil prices changed because of cold weather.
- Less oil was produced due to the cold, making it more expensive.
- But, less oil was also used because of lower demand.
- This made the price difference between different kinds of oil smaller.
| Factor | Number/Fact |
|---|---|
| Price difference (March) | 23 cents |
| Price difference (Last year) | 50 cents |
| Oil production cut by cold weather | 1.8 million barrels |
| U.S. refinery use | 85.6% |
So, even though cold weather made oil more expensive at first, lower demand and other things changed the price again. It's complicated stuff, but now you know a little bit more about how oil prices work!
