Crude Oil rose to 65.19 USD/Bbl on September 26, 2025, up 0.32% from the previous day. Over the past month, Crude Oil's price has risen 1.62%, but it is still 4.39% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on September of 2025.

As of July 2025, the average annual price of Brent crude oil stood at 71.79 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of July. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Brent rose to 69.67 USD/Bbl on September 26, 2025, up 0.36% from the previous day. Over the past month, Brent's price has risen 3.31%, but it is still 2.61% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on September of 2025.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 68.25 U.S. dollars per barrel as of July. This would be eight U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

View monthly updates and historical trends for Average Crude Oil Spot Price. Source: World Bank. Track economic data with YCharts analytics.

Urals Oil rose to 63.67 USD/Bbl on September 25, 2025, up 0.51% from the previous day. Over the past month, Urals Oil's price has risen 0.17%, but it is still 5.18% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-09-02 about crude, oil, Europe, commodities, and price.

Palm Oil fell to 4,396 MYR/T on September 26, 2025, down 0.99% from the previous day. Over the past month, Palm Oil's price has fallen 2.07%, but it is still 8.49% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palm Oil - values, historical data, forecasts and news - updated on September of 2025.

The average price of Indian basket crude oil was estimated to reach ***** U.S. dollars per barrel in the financial year 2024. While Indian basket crude oil prices have fluctuated during the reported period, this figure significantly decreased from the previous year’s average of ***** U.S. dollars. The average price of crude oil went up marginally around the financial year 2012, touching almost *** U.S. dollars per barrel. Recent trends in the Indian oil industry The last several years have seen a slight but steady increase in Indian crude oil refinery capacity. However, the annual domestic crude oil production volume has consistently decreased. Not surprisingly, the volume of crude oil imports had recently been on the rise for several years. The future of the Indian energy sector As the third-largest primary energy consumer globally, India relies on various sources to meet its energy demands. At the same time, a significant increase in primary energy consumption across various sources is projected for the coming decades, with renewables playing a vital role in the Indian energy transition.

Graph and download economic data for Global price of Palm Oil (PPOILUSDM) from Jan 1990 to Jun 2025 about oil, World, food, and price.

Corn fell to 421.50 USd/BU on September 26, 2025, down 1.00% from the previous day. Over the past month, Corn's price has risen 10.20%, and is up 0.84% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Corn - values, historical data, forecasts and news - updated on September of 2025.

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

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According to a 2025 survey, oil producers operating in the Permian region needed WTI oil prices to amount to a minimum of ** U.S. dollars per barrel in order to profitably drill a new well. This compared to a minimum breakeven price of ** U.S. dollars per barrel for existing wells. The monthly average WTI oil price ranged between ** and ** U.S. dollars per barrel around the time of the survey. Most productive oil basins Operators in shale basins have the lowest average breakeven prices for new wells. However, when it comes to existing wells, operators in the Permian (Delaware) basin can afford even lower oil prices. The Permian basin, located in Texas and New Mexico, accounts for the greatest U.S. oil production output of any region. In 2024, production in the Permian reached nearly *********** barrels per day - more than **** times the amount extracted from the neighboring Eagle Ford rock formation. Texas is leading oil producing state With both regions located in Texas, it is not surprising that this is also the leading crude oil producing U.S. state. Nearly two billion barrels worth of crude oil were extracted in Texas per year, far more than any other state. Texas is home to a total of five major oil and gas formations.

View monthly updates and historical trends for Olive Oil Price. Source: International Monetary Fund. Track economic data with YCharts analytics.

Natural gas fell to 3.17 USD/MMBtu on September 26, 2025, down 0.65% from the previous day. Over the past month, Natural gas's price has risen 9.99%, and is up 9.38% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on September of 2025.

Sunflower Oil rose to 1,350.90 INR/10 kg on September 26, 2025, up 0.29% from the previous day. Over the past month, Sunflower Oil's price has fallen 0.02%, but it is still 13.45% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Sunflower Oil.

Graph and download economic data for Global price of Olive Oil (POLVOILUSDM) from Jan 1990 to Jun 2025 about oil, World, food, and price.

This statistic depicts the average annual prices for palm oil from 2014 through 2026*. In 2024, the average price for palm oil stood at 963 nominal U.S. dollars per metric ton.

The global fuel energy price index stood at 165.09 index points in July 2025, up from 100 in the base year 2016. Figures decreased that month due to a fall in natural gas prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Tariffs bring economic uncertainty With the global economy having adjusted to the effects of the Russia-Ukraine war, new uncertainty has emerged due to tariffs imposed by the Trump administration. If these tariffs are fully implemented, global trade could be significantly disrupted, mainly the bilateral trade between the world’s two largest economies. In 2025, import tariffs between China and the United States exceeded 130 percent on both sides, while their tariffs on imports from the rest of the world were around 10 percent. U.S. tariffs on Chinese imported goods reached a high of 134.7 percent in April of that year, while China imposed a 147.6 percent tariff on U.S. goods. Early estimates indicate that the impact of Trump’s proposed tariffs on the U.S. economy could amount to 0.4 percent of GDP, mainly driven by the reduced trade with Mexico, Canada and China.