Crude Oil rose to 60.99 USD/Bbl on October 3, 2025, up 0.84% from the previous day. Over the past month, Crude Oil's price has fallen 3.92%, and is down 18.00% compared to the same time last year, 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 October of 2025.

On September 29, 2025, the Brent crude oil price stood at 66.8 U.S. dollars per barrel, compared to 63.45 U.S. dollars for WTI oil and 70.48 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.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 global 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.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-09-22 about crude, oil, Europe, commodities, and price.

Urals Oil fell to 61.24 USD/Bbl on October 1, 2025, down 1.67% from the previous day. Over the past month, Urals Oil's price has fallen 1.56%, and is down 11.05% compared to the same time last year, 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.

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

Graph and download economic data for Global price of Brent Crude (POILBREUSDA) from 1990 to 2024 about crude, oil, World, and price.

The article discusses the factors influencing the price of Brent crude oil, including global supply and demand dynamics, geopolitical tensions, OPEC decisions, and economic indicators. The ongoing COVID-19 pandemic has also had a significant impact on oil prices. The article emphasizes the importance of monitoring these factors to understand the future direction of oil prices.

The average spot price for West Texas Intermediate crude oil came to 76.63 U.S. dollars per barrel in 2024, a decrease of nearly one U.S. dollars compared to the previous year. The 2024 average spot price for Brent crude oil was 80.52 U.S. dollars. Both Brent and WTI are light crude oils, with the first used as a benchmark for gasoline prices around the world. Spot prices vs. future prices Spot prices refer to current market prices under which a commodity such as one barrel of crude oil may be bought for immediate delivery. In contrast, future prices refer to settlement and delivery at a later date. As a major refinery and storage hub, Cushing in Oklahoma is the delivery location for WTI traded via the New York Mercantile Exchange. When storage capacities threatened to reach their maximum capacity in April 2020, the WTI oil price crashed as a result, trading at record low prices. The WTI oil price fell into negative numbers for the first time in its history, closing out at negative 37.63 U.S. dollars per barrel on April 20th. The lowest value for Brent prices was 19.33 U.S. dollars per barrel. Influences on oil prices Oil prices are volatile commodities as their trading and delivery is heavily influenced by overall market development and geopolitical events. For example, the Russia-Ukraine war and resulting Russian sanctions brought about fears of supply bottlenecks, which pushed oil prices to decade-highs also reflected in the 2022 annual average.

View market daily updates and historical trends for Brent Crude Oil Spot Price. Source: Energy Information Administration. Track economic data with YChart…

Heating Oil fell to 2.24 USD/Gal on October 3, 2025, down 0.21% from the previous day. Over the past month, Heating Oil's price has fallen 3.94%, and is down 3.48% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on October of 2025.

Brent crude oil is projected to have an average annual spot price of 67.22 U.S. dollars per barrel in 2025, according to a forecast from May 2025. This would mean a decrease of more than 13 U.S. dollars compared to the previous year and also reflect a reduced forecast WTI crude oil price. Lower economic activity, an increase in OPEC+ production output, and uncertainty over trade tariffs all impacted price forecasting. All about Brent Also known as Brent Blend, London Brent, and Brent petroleum, Brent Crude is a crude oil benchmark named after the exploration site in the North Sea's Brent oilfield. It is a sweet light crude oil but slightly heavier than West Texas Intermediate. In this context, sweet refers to a low sulfur content and light refers to a relatively low density when compared to other crude oil benchmarks. Price development in the 2020s Oil prices are volatile, impacted by consumer demand and discoveries of new oilfields, new extraction methods such as fracking, and production caps routinely placed by OPEC on its member states. The price for Brent crude oil stood at an average of just 42 U.S. dollars in 2020, when the coronavirus pandemic resulted in a sudden demand drop. Two years later, sanctions on Russian energy imports had pushed up prices to a new decade-high, above 100 U.S. dollars per barrel.

Learn about the various factors that influence the Brent crude oil spot price, including supply and demand dynamics, geopolitical events, economic indicators, and weather conditions. Find out how these factors can impact the price of Brent crude oil and what traders, investors, and analysts need to consider when making decisions in the oil market.

Today, the price of Brent crude oil experienced fluctuations amid ongoing concerns about the world economy due to the trade tensions between the United States and China. The United States and China, the world's top oil consumers, have been imposing tariffs on each other's goods, raising concerns about the global economic growth and oil demand. Overall, the price of Brent crude oil today exhibited volatility due to the ongoing trade tensions and market expectations regarding production cuts.

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

Find out the latest prices of oil stocks, including Brent Crude Oil, WTI Crude Oil, ExxonMobil Corporation (XOM), Chevron Corporation (CVX), and British Petroleum (BP). Learn about the factors influencing oil stock prices such as global oil demand, OPEC production decisions, geopolitical events, and economic indicators. Understand the risks involved in investing in oil stocks and the importance of staying updated on market trends.

Graph and download economic data for Global price of Brent Crude (POILBREUSDM) from Jan 1990 to Jun 2025 about crude, oil, World, and price.

Brent Crude History - Historical chart and current data through 2025.

The article discusses the current live price of Brent Crude Oil, which is $64.23 per barrel, and how it is influenced by geopolitical events, supply and demand dynamics, and market speculation. It highlights the importance of monitoring the price of Brent Crude Oil as it impacts the energy sector, global economy, oil companies, transportation costs, and consumer prices. The article also explains how disruptions in oil-producing regions, changes in consumption patterns, and investor sentiment can lead to pri

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.

Palm Oil fell to 4,442 MYR/T on October 3, 2025, down 0.18% from the previous day. Over the past month, Palm Oil's price has fallen 0.16%, but it is still 3.18% 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 October of 2025.