Chinese Sour On Oil

Oil prices were sky high but are falling (now they're only kinda high). But it also varies with the grade:

Oman Crude (January)		$34.17
Dubai Crude (January)		$33.33
Merban Crude (January)		$37.95
Arabian Light Crude (January)		$33.80
Arabian Heavy Crude (January)		$28.50
North Sea Brent (January)		$38.93
West Texas Intermed.(December)		$41.41

Not all oils are the same, and most of it is cheaper than what's being quoted in the press. Two-thirds of China's oil imports, for example, are for a grade of oil so sour US refineries can't even handle it.

There's competition for oil, but it's not always as across-the-board as it's made out to be. Depends what you want.