Definition of vegetation. 1 : plant life or total plant cover (as of an area) 2 : the act or process of vegetating. 3 : inert existence.
In late July, markets reacted to a drop in oil prices. WTI crude oil price fell to $42.41 per barrel, the lowest price since mid-April, when it closed at $39.78. Futures dropped 12.2%. The Brent crude price per barrel was down 11% in late July.
The price of oil, or the oil price, generally refers to the spot price of a barrel of benchmark crude oilâa reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent ICE, Dubai Crude, OPEC Reference Basket, Tapis Crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS).