Interactive daily chart of Brent (Europe) crude oil prices over the last ten years. Values shown are daily closing prices.

As of June 2025, the average annual price of Brent crude oil stood at 71.91 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.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-06-16 about crude, oil, Europe, commodities, and price.

On July 14, 2025, the Brent crude oil price stood at 69.18 U.S. dollars per barrel, compared to 66.98 U.S. dollars for WTI oil and 72 U.S. dollars for the OPEC basket. Brent and WTI prices fell slightly that week, while OPEC prices rose.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 (where a contract is agreed upon while 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.

Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years. The prices shown are in U.S. dollars.

BOP Forecast: Brent Oil Price data was reported at 58.000 EUR/Barrel in 2020. This records a decrease from the previous number of 62.100 EUR/Barrel for 2019. BOP Forecast: Brent Oil Price data is updated yearly, averaging 60.050 EUR/Barrel from Dec 2017 (Median) to 2020, with 4 observations. The data reached an all-time high of 62.200 EUR/Barrel in 2018 and a record low of 48.200 EUR/Barrel in 2017. BOP Forecast: Brent Oil Price data remains active status in CEIC and is reported by Bank of Portugal. The data is categorized under Global Database’s Portugal – Table PT.P001: Brent Crude Oil: Forecast.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. 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.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 68.24 U.S. dollars per barrel, as of May. 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.

BOF Forecast: Brent Oil Price data was reported at 58.000 EUR/Barrel in 2020. This records a decrease from the previous number of 62.100 EUR/Barrel for 2019. BOF Forecast: Brent Oil Price data is updated yearly, averaging 60.050 EUR/Barrel from Dec 2017 (Median) to 2020, with 4 observations. The data reached an all-time high of 62.200 EUR/Barrel in 2018 and a record low of 48.200 EUR/Barrel in 2017. BOF Forecast: Brent Oil Price data remains active status in CEIC and is reported by Bank of France. The data is categorized under Global Database’s France – Table FR.P007: Brent Crude Oil: Forecast: Bank of France.

ISTAT Forecast: Brent Crude Oil Price data was reported at 68.100 USD/Barrel in 2018. This records an increase from the previous number of 57.100 USD/Barrel for 2017. ISTAT Forecast: Brent Crude Oil Price data is updated yearly, averaging 62.600 USD/Barrel from Dec 2013 (Median) to 2018, with 6 observations. The data reached an all-time high of 108.600 USD/Barrel in 2013 and a record low of 43.500 USD/Barrel in 2016. ISTAT Forecast: Brent Crude Oil Price data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Italy – Table IT.P002: Oil Price: Forecast: National Institute of Statistics.

Germany Commodity Price Expectation: Brent Crude Oil: Decrease data was reported at 23.000 % in Mar 2021. This records an increase from the previous number of 17.000 % for Feb 2021. Germany Commodity Price Expectation: Brent Crude Oil: Decrease data is updated monthly, averaging 20.800 % from Feb 1999 (Median) to Mar 2021, with 266 observations. The data reached an all-time high of 75.700 % in Dec 2000 and a record low of 4.900 % in Aug 2017. Germany Commodity Price Expectation: Brent Crude Oil: Decrease data remains active status in CEIC and is reported by Leibniz Centre for European Economic Research. The data is categorized under Global Database’s Germany – Table DE.S001: Indicator of Economic Sentiment: ZEW.

MF Forecast: Crude Oil: Brent data was reported at 53.700 USD/Barrel in 2020. This records an increase from the previous number of 53.100 USD/Barrel for 2019. MF Forecast: Crude Oil: Brent data is updated yearly, averaging 52.850 USD/Barrel from Dec 2017 (Median) to 2020, with 4 observations. The data reached an all-time high of 53.700 USD/Barrel in 2020 and a record low of 51.800 USD/Barrel in 2017. MF Forecast: Crude Oil: Brent data remains active status in CEIC and is reported by Ministry of Finance of the Republic of Bulgaria. The data is categorized under Global Database’s Bulgaria – Table BG.P004: Crude Oil Price: Forecast: Ministry of Finance of the Republic of Bulgaria.

Browse Brent Crude Oil London Trade at Marker Futures (BZL) market data. Get instant pricing estimates and make batch downloads of binary, CSV, and JSON flat files.

The CME Group Market Data Platform (MDP) 3.0 disseminates event-based bid, ask, trade, and statistical data for CME Group markets and also provides recovery and support services for market data processing. MDP 3.0 includes the introduction of Simple Binary Encoding (SBE) and Event Driven Messaging to the CME Group Market Data Platform. Simple Binary Encoding (SBE) is based on simple primitive encoding, and is optimized for low bandwidth, low latency, and direct data access. Since March 2017, MDP 3.0 has changed from providing aggregated depth at every price level (like CME's legacy FAST feed) to providing full granularity of every order event for every instrument's direct book. MDP 3.0 is the sole data feed for all instruments traded on CME Globex, including futures, options, spreads and combinations. Note: We classify exchange-traded spreads between futures outrights as futures, and option combinations as options.

Origin: Directly captured at Aurora DC3 with an FPGA-based network card and hardware timestamping. Synchronized to UTC with PTP

Supported data encodings: DBN, CSV, JSON Learn more

Supported market data schemas: MBO, MBP-1, MBP-10, TBBO, Trades, OHLCV-1s, OHLCV-1m, OHLCV-1h, OHLCV-1d, Definition, Statistics Learn more

Resolution: Immediate publication, nanosecond-resolution timestamps

Browse Brent Crude Oil Calendar Spread Quarterly Strip Option (BQP) market data. Get instant pricing estimates and make batch downloads of binary, CSV, and JSON flat files.

The CME Group Market Data Platform (MDP) 3.0 disseminates event-based bid, ask, trade, and statistical data for CME Group markets and also provides recovery and support services for market data processing. MDP 3.0 includes the introduction of Simple Binary Encoding (SBE) and Event Driven Messaging to the CME Group Market Data Platform. Simple Binary Encoding (SBE) is based on simple primitive encoding, and is optimized for low bandwidth, low latency, and direct data access. Since March 2017, MDP 3.0 has changed from providing aggregated depth at every price level (like CME's legacy FAST feed) to providing full granularity of every order event for every instrument's direct book. MDP 3.0 is the sole data feed for all instruments traded on CME Globex, including futures, options, spreads and combinations. Note: We classify exchange-traded spreads between futures outrights as futures, and option combinations as options.

Origin: Directly captured at Aurora DC3 with an FPGA-based network card and hardware timestamping. Synchronized to UTC with PTP

Supported data encodings: DBN, CSV, JSON Learn more

Supported market data schemas: MBO, MBP-1, MBP-10, TBBO, Trades, OHLCV-1s, OHLCV-1m, OHLCV-1h, OHLCV-1d, Definition, Statistics Learn more

Resolution: Immediate publication, nanosecond-resolution timestamps

Data set is based on the period between April 2010 and July 2017. Hourly electricity load curves since provided by ENTSO-E (2017). Weather variables were constructed as consumption-weighted averages from the areas of Bratislava, Sliac, Kamenica nad Cirochou, and Poprad provided by the Slovak Hydro-Meteorological Institute. Brent daily crude oil spot price from FRED (2017). Electricity average hourly price in a daily market from Slovak Short-term electricity Market Operator (2017).

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.

MF预测：原油：布伦特在12-01-2020达53.700美元/桶，相较于12-01-2019的53.100美元/桶有所增长。MF预测：原油：布伦特数据按年更新，12-01-2017至12-01-2020期间平均值为52.850美元/桶，共4份观测结果。该数据的历史最高值出现于12-01-2020，达53.700美元/桶，而历史最低值则出现于12-01-2017，为51.800美元/桶。CEIC提供的MF预测：原油：布伦特数据处于定期更新的状态，数据来源于Министерство на финансите на Република България，数据归类于全球数据库的保加利亚 – 表BG.B019：原油价格：预测：保加利亚财政部。

Ireland has seen an overall increase in the price of diesel fuel since 2000, with prices amounting to **** euros per liter in 2021. Between 2009 and 2012 prices sharply increased, peaking at **** euros per liter in the latter year. The following four years experienced annual decreases in prices, however, since 2016 prices have been increasing again. Monthly diesel prices were highest in the fall of 2018, when they climbed to ***** British pence per liter and notably fell during the coronavirus pandemic in the spring of 2020. However, the recent Europe-wide energy supply shortage has had a huge impact on liquid fuel prices in the country, driving diesel prices past 120 pence per liter in the summer and fall months.Oil price slump 2020It is not just Ireland that has seen significant price decrease in the spring and summer of 2020. Lockdowns and reduced oil demand due to mobility restrictions have impacted the price of diesel globally. The cost per barrel of Brent crude oil declined by an average of ** U.S. dollars per barrel in 2020 compared to 2019.Diesel cars the most popular in Ireland despite fall in salesDespite a decline in the overall number of diesel cars sold in Ireland, and a growth in electric car sales in recent years, diesel-powered passenger cars remain the most popular. In 2020, over ****** diesel cars were purchased by drivers in Ireland. However, the decrease in sales signals a shift away from this engine type.