Crude Oil rose to 64.67 USD/Bbl on June 9, 2025, up 0.13% from the previous day. Over the past month, Crude Oil's price has risen 4.39%, but it is still 16.82% 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 June of 2025.

Crude oil trading price refers to the value at which crude oil is bought and sold in financial markets. Factors affecting crude oil prices include supply and demand, OPEC policies, geopolitical events, economic indicators, and market speculation. Crude oil is primarily traded on the NYMEX and ICE exchanges. Changes in crude oil prices impact consumers, producers, investors, and the global economy. Understanding these factors is crucial for analyzing and predicting crude oil price movements.

Globally, around two billion metric tons of crude oil was transported by sea in 2024. This was still lower than the volumes reported pre-pandemic, while global oil production increased slightly over this period. Oil in the global economy and main importers Oil is the fuel that keeps the global economy running as the hydrocarbon is heavily utilized for fuel and chemical production. Worldwide production of crude oil rose from about 73 million barrels in 1998 to about 96 million barrels in 2024. While accounting for less than 10 percent of global oil production, the Asia-Pacific region is the largest consumer of oil; over a third of worldwide oil consumption is concentrated here. Oil tankers in the global merchant fleet Where pipeline infrastructure between trading partners is limited, large oil volumes have to be transported by land or sea. The key passages for seaborne oil trade include the routes from Panama to China, from the Strait of Hormuz to Japan and from West Africa to India. Among the main tanker builders are companies such as the General Dynamics-owned NASSCO. Crude oil tankers were the third most important vessel type in the global merchant fleet.

Crude oil trading charts are graphical representations of the price movements of crude oil over a specific period of time, providing valuable information for traders and investors. Learn how different types of charts, such as line charts, bar charts, and candlestick charts, are used to identify patterns and make informed trading decisions. Discover how technical indicators enhance analysis, and where to access customizable real-time charts. Explore the power of crude oil trading charts in analyzing market t

On June 2, 2025, the Brent crude oil price stood at 64.5 U.S. dollars per barrel, compared to 62.52 U.S. dollars for WTI oil and 65.13 U.S. dollars for the OPEC basket. Crude oil prices were some of the lowest they had been since February 2021.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Trading oil futures involves speculating on the price movements of oil in the future. Learn about contract specifications, margin requirements, long and short positions, price fluctuations, leverage, risk management, market analysis, and trading strategies for successful oil futures trading.

Stocks of crude oil in the United States increased by 1.75million barrels in the week ending March 14 of 2025. This dataset provides the latest reported value for - United States Crude Oil Stocks Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma was 63.54000 $ per Barrel in April of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma reached a record high of 133.88000 in June of 2008 and a record low of 11.35000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma - last updated from the United States Federal Reserve on May of 2025.

Learn about Brent crude oil trading, the process of buying and selling Brent crude oil futures contracts on various commodity exchanges. Discover how traders can participate in this highly liquid market and manage their exposure to oil price fluctuations.

API Crude Oil Stock Change in the United States increased to -3.30 BBL/1Million in May 30 from -4.24 BBL/1Million in the previous week. This dataset provides - United States API Crude Oil Stock Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Trading oil futures online offers convenience, leverage, and real-time data for making informed trading decisions. However, it comes with risks due to the volatility of oil prices. Learn about the benefits and precautions of trading oil futures online.

Canada is the main source country for petroleum imported into the United States. In 2024, the United States imported around 4.7 million barrels of petroleum per day from its northern neighbor. Oil trading with Canada increased more quickly in the 2010s when strides made in unconventional oil extraction allowed for the large-scale mining of oil sands. By comparison, petroleum trading with Venezuela notably declined since the year 2000. In fact, the U.S. did not purchase any crude oil or oil products from Venezuela between 2020 and 2022. However, in 2024 Venezuelan petroleum imports reached some 232 thousand barrels per day. Crude oil reserves As of 2023, global crude oil reserves were estimated to be around 1.6 trillion barrels. This is the amount of oil that can be extracted in the future under current economic and operating conditions. Most of the proved oil reserves in the world are found in the Middle East, although the share of proved reserves in Central and South America has increased the most since the 1990s. Uses of petroleum Petroleum is a versatile raw material that can be refined into transportation fuels or used as a feedstock within the petrochemical industry. Gasoline is the most commonly produced petroleum product. U.S. refinery production of conventional motor gasoline reached 1.4 million barrels per day in 2021. Most refineries in the U.S. are located on the Gulf Coast close to productive oil basins such as the Permian and ports for shipping.

Crude Oil Production in Libya decreased to 1373 BBL/D/1K in March from 1389 BBL/D/1K in February of 2025. This dataset provides the latest reported value for - Libya Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

East and South Africa were the main source of crude oil exports from the African continent as of 2023. Some 158.6 million metric tons of crude oil were exported to the world with origin in the westernmost region of the continent. In its turn, exports of oil products were in higher quantities in North African countries, reaching 63.3 million metric tons. Besides, oil products were imported in large quantities across all African regions. The import volume reached 46.7 million metric tons in East and Southern Africa, 35.1 million metric tons in West Africa, and 23.5 million metric tons in North Africa.

Crude Oil Import: Refinery data was reported at 988.600 Metric Ton th in 2016. This records an increase from the previous number of 61.800 Metric Ton th for 2015. Crude Oil Import: Refinery data is updated yearly, averaging 733.450 Metric Ton th from Dec 2007 (Median) to 2016, with 10 observations. The data reached an all-time high of 1,396.700 Metric Ton th in 2008 and a record low of 61.800 Metric Ton th in 2015. Crude Oil Import: Refinery data remains active status in CEIC and is reported by Energy Commission. The data is categorized under Global Database’s Ghana – Table GH.RB011: Crude Oil Trade.

In 2023, the United Kingdom imported roughly 42 million metric tons of crude oil and natural gas liquids compared with an export of 25.4 million metric tons. The UK has been a net importer of this product for most years shown. Norway is the leading supplier of crude oil in the UK.

WTI Crude Oil, also known as West Texas Intermediate Crude Oil, is a benchmark for pricing other types of oil and is one of the most actively traded commodities in the world. Learn about the production, trading methods, and risks involved in WTI Crude Oil trading.

Ghana Crude Oil Import data was reported at 233.200 Metric Ton th in 2017. This records a decrease from the previous number of 1,445.600 Metric Ton th for 2016. Ghana Crude Oil Import data is updated yearly, averaging 1,302.300 Metric Ton th from Dec 2007 (Median) to 2017, with 11 observations. The data reached an all-time high of 2,053.700 Metric Ton th in 2007 and a record low of 233.200 Metric Ton th in 2017. Ghana Crude Oil Import data remains active status in CEIC and is reported by Energy Commission. The data is categorized under Global Database’s Ghana – Table GH.RB011: Crude Oil Trade.

We develop a structural model of the global market for crude oil that for the first time explicitly allows for shocks to the speculative demand for oil as well as shocks to flow demand and flow supply. The speculative component of the real price of oil is identified with the help of data on oil inventories. Our estimates rule out explanations of the 2003-2008 oil price surge based on unexpectedly diminishing oil supplies and based on speculative trading. Instead, this surge was caused by unexpected increases in world oil consumption driven by the global business cycle. There is evidence, however, that speculative demand shifts played an important role during earlier oil price shock episodes including 1979, 1986 and 1990. Our analysis implies that additional regulation of oil markets would not have prevented the 2003-2008 oil price surge. We also show that, even after accounting for the role of inventories in smoothing oil consumption, our estimate of the short-run price elasticity of oil demand is much higher than traditional estimates from dynamic models that do not account for for the endogeneity of the price of oil.

Crude Oil Production in Colombia decreased to 756 BBL/D/1K in February from 770 BBL/D/1K in January of 2025. This dataset provides the latest reported value for - Colombia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.