Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, 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 March of 2025.

In February 2025, the average price of one barrel of Brent crude oil was 75.44 U.S. dollars. This was some four U.S. dollars below prices the previous month as demand for oil was expected to stagnate in the coming months. Brent terminology and most common uses Brent is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies and is also the most significant crude oil benchmark for Europe. Brent crude originates in the North Sea and includes oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both oil reserves in Norway. Other names for Brent are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent includes oil from the other three major oil fields. Brent, next to West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulfur, it is ranged among the so-called sweet crude oils. Most of the Brent crude oil is refined into gasoline and middle distillates in Northwest Europe. Benchmark oil prices Other crucial benchmarks for crude oil prices are the already mentioned U.S.- WTI and Dubai Crude (Fateh). They are indispensable for referencing the many types and grades of oil on the global market. In the past twenty years, the annual price for one barrel of Brent crude oil saw a net increase. For example, the average price per barrel stood at 80.53 U.S. dollars in 2024.

In February 2025, the price for one barrel of West Texas Intermediate (WTI) crude oil averaged 71.53 U.S. dollars. This was a decrease compared to the previous month amid continued weak demand outlooks and expectations for production increases. WTI and other benchmark crudes WTI is also known as "Texas light sweet", and is a grade of crude oil used as a benchmark for oil produced in the United States. It has an API gravity of around 39.6 and specific gravity of about 0.827, which, relative to other crude oils, is considered “light,” hence the name. WTI also contains about 0.24 percent sulfur, making it a “sweet” crude oil. The price of WTI can be compared to the prices other of crude oils, i.e. UK Brent, the OPEC basket, and Dubai Fateh oil. WTI crude oil is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. U.S. oil production and its influence on light oil prices The price development of WTI crude oil relative to Brent crude oil has been influenced by variances in U.S. crude oil transportation and increased U.S. oil production. New transportation infrastructure became operational in early 2013, easing the movement of crude oil in the mid-continent and raising the price of WTI. Since then, U.S. refineries have increased production of crude oil to record levels, also raising the price of WTI. Meanwhile, expedited crude transport in the U.S. put downward pressure on Brent crude oil as domestic crude replaced some imported Brent crude. Between 2014 and 2016, UK Brent prices dropped rapidly, as was the case for all other crude oils.

Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, 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 March of 2025.

The monthly crude oil price index worldwide reached 182.78 index points in February 2025. Prices decreased compared to the previous month as economic activity was expected to continue to stagnate.

Graph and download economic data for Crude Oil Prices: Brent - Europe (WCOILBRENTEU) from 1987-05-15 to 2025-03-14 about crude, oil, Europe, commodities, and price.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.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.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three 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 a 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.

Have timely access to reliable Crude Oil price assessments in United States:

• Crude Oil (WTI), export spot price, fob, Cushing

Each assessment includes Crude Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

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Graph and download economic data for Global price of Dubai Crude (POILDUBUSDM) from Jan 1990 to Feb 2025 about crude, oil, World, and price.

The price of crude oil is influenced by various factors, including supply and demand dynamics, geopolitical tensions, global economic growth, and weather conditions. This article explores the history of crude oil prices, monthly price breakdowns, and factors affecting crude oil prices.

Commodity Prices: Avg: Crude Oil: WTI data was reported at 71.250 USD/Barrel in Feb 2025. This records a decrease from the previous number of 75.140 USD/Barrel for Jan 2025. Commodity Prices: Avg: Crude Oil: WTI data is updated monthly, averaging 34.300 USD/Barrel from May 1983 (Median) to Feb 2025, with 502 observations. The data reached an all-time high of 133.930 USD/Barrel in Jun 2008 and a record low of 11.300 USD/Barrel in Dec 1998. Commodity Prices: Avg: Crude Oil: WTI data remains active status in CEIC and is reported by Central Bank of Chile. The data is categorized under Global Database’s Chile – Table CL.P005: Crude Oil Price. [COVID-19-IMPACT]

Crude oil prices are highly volatile and subject to various factors that influence supply and demand. This article examines the one-month chart for crude oil prices, delving into the factors that drive these fluctuations and the importance of monitoring them for market participants.

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• Crude Oil (sour), import spot price, cif, Indonesia

Each assessment includes Crude Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Crude Oil price assessments for Indonesia and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Chile Commodity Prices: Avg: Crude Oil: Brent data was reported at 75.157 USD/Barrel in Feb 2025. This records a decrease from the previous number of 79.206 USD/Barrel for Jan 2025. Chile Commodity Prices: Avg: Crude Oil: Brent data is updated monthly, averaging 65.040 USD/Barrel from Jan 2000 (Median) to Feb 2025, with 302 observations. The data reached an all-time high of 133.900 USD/Barrel in Jul 2008 and a record low of 18.600 USD/Barrel in Dec 2001. Chile Commodity Prices: Avg: Crude Oil: Brent data remains active status in CEIC and is reported by Central Bank of Chile. The data is categorized under Global Database’s Chile – Table CL.P005: Crude Oil Price.

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• Crude Oil (WTI), spot price, dap, Rotterdam

Each assessment includes Crude Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

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Graph and download economic data for Producer Price Index by Industry: Crude Petroleum and Natural Gas Extraction: Crude Petroleum (PCU2111112111111) from Jun 1984 to Jan 2025 about extraction, petroleum, crude, gas, PPI, industry, inflation, price index, indexes, price, and USA.

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• Crude Oil, export spot price, fob, Mexico

Each assessment includes Crude Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

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Have timely access to reliable Crude Oil price assessments in Brazil:

• Crude Oil, export transaction price, fob, Brazil

Each assessment includes Crude Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Crude Oil price assessments for Brazil and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.