Explore the factors influencing crude oil prices, including supply and demand, geopolitical tensions, OPEC's role, and market speculation. Stay informed on real-time updates and analyses from platforms like Bloomberg and Reuters to make informed decisions.

On July 28, 2025, the Brent crude oil price stood at 69.68 U.S. dollars per barrel, compared to 66.71 U.S. dollars for WTI oil and 70.98 U.S. dollars for the OPEC basket. Brent and OPEC prices rose slightly that week, while WTI prices fell.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.

Urals Oil rose to 68.86 USD/Bbl on July 31, 2025, up 0.32% from the previous day. Over the past month, Urals Oil's price has risen 11.84%, but it is still 8.49% 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.

Palm Oil rose to 4,277 MYR/T on July 30, 2025, up 0.02% from the previous day. Over the past month, Palm Oil's price has risen 7.73%, and is up 9.41% compared to the same time last year, 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 July of 2025.

Naphtha fell to 555.09 USD/T on July 30, 2025, down 0.03% from the previous day. Over the past month, Naphtha's price has risen 2.87%, but it is still 19.17% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Naphtha - values, historical data, forecasts and news - updated on July of 2025.

Coffee fell to 292.65 USd/Lbs on July 30, 2025, down 1.60% from the previous day. Over the past month, Coffee's price has fallen 0.76%, but it is still 28.08% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coffee - values, historical data, forecasts and news - updated on July of 2025.

Iron Ore rose to 99.07 USD/T on July 30, 2025, up 0.09% from the previous day. Over the past month, Iron Ore's price has risen 6.06%, but it is still 6.48% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore - values, historical data, forecasts and news - updated on July of 2025.

CRB Index rose to 377.14 Index Points on July 29, 2025, up 0.83% from the previous day. Over the past month, CRB Index's price has risen 3.27%, and is up 16.45% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. CRB Commodity Index - values, historical data, forecasts and news - updated on July of 2025.

Uranium traded flat at 71.25 USD/Lbs on July 30, 2025. Over the past month, Uranium's price has fallen 8.71%, and is down 15.63% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Uranium - values, historical data, forecasts and news - updated on July of 2025.

Baltic Dry fell to 1,995 Index Points on July 30, 2025, down 5.41% from the previous day. Over the past month, Baltic Dry's price has risen 36.83%, and is up 16.80% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Baltic Exchange Dry Index - values, historical data, forecasts and news - updated on July of 2025.