100+ datasets found
  1. Weekly oil prices in Brent, OPEC basket, and WTI futures 2020-2025

    • statista.com
    • ai-chatbox.pro
    Updated Jul 1, 2025
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    Statista (2025). Weekly oil prices in Brent, OPEC basket, and WTI futures 2020-2025 [Dataset]. https://www.statista.com/statistics/326017/weekly-crude-oil-prices/
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    Dataset updated
    Jul 1, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Jan 6, 2020 - Jun 30, 2025
    Area covered
    Worldwide
    Description

    On June 30, 2025, the Brent crude oil price stood at 66.64 U.S. dollars per barrel, compared to 65.11 U.S. dollars for WTI oil and 68.35 U.S. dollars for the OPEC basket. OPEC prices fell that week as concerns over supply constraints related to the Israel-Iran conflict eased.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.

  2. T

    Crude Oil - Price Data

    • tradingeconomics.com
    • ar.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Jul 4, 2025
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    TRADING ECONOMICS (2025). Crude Oil - Price Data [Dataset]. https://tradingeconomics.com/commodity/crude-oil
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    csv, json, xml, excelAvailable download formats
    Dataset updated
    Jul 4, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 30, 1983 - Jul 4, 2025
    Area covered
    World
    Description

    Crude Oil fell to 66.46 USD/Bbl on July 4, 2025, down 0.56% from the previous day. Over the past month, Crude Oil's price has risen 4.87%, but it is still 20.09% 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 July of 2025.

  3. M

    WTI Crude Oil Prices - 10 Year Daily Chart

    • macrotrends.net
    csv
    Updated Jun 30, 2025
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    MACROTRENDS (2025). WTI Crude Oil Prices - 10 Year Daily Chart [Dataset]. https://www.macrotrends.net/2516/wti-crude-oil-prices-10-year-daily-chart
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    csvAvailable download formats
    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    1915 - 2025
    Area covered
    United States
    Description

    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.

  4. T

    Brent crude oil - Price Data

    • tradingeconomics.com
    • zh.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Oct 22, 2016
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    TRADING ECONOMICS (2016). Brent crude oil - Price Data [Dataset]. https://tradingeconomics.com/commodity/brent-crude-oil
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    xml, csv, excel, jsonAvailable download formats
    Dataset updated
    Oct 22, 2016
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Apr 15, 1970 - Jul 4, 2025
    Area covered
    World
    Description

    Brent fell to 68.29 USD/Bbl on July 4, 2025, down 0.52% from the previous day. Over the past month, Brent's price has risen 4.51%, but it is still 21.09% lower than a year ago, 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 July of 2025.

  5. Crude Oil Prices Worldwide

    • indexbox.io
    doc, docx, pdf, xls +1
    Updated May 1, 2025
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    IndexBox Inc. (2025). Crude Oil Prices Worldwide [Dataset]. https://www.indexbox.io/search/crude-oil-prices-worldwide/
    Explore at:
    xlsx, pdf, docx, xls, docAvailable download formats
    Dataset updated
    May 1, 2025
    Dataset provided by
    IndexBox
    Authors
    IndexBox Inc.
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 2012 - May 12, 2025
    Area covered
    World
    Variables measured
    Price CIF, Price FOB, Export Value, Import Price, Import Value, Export Prices, Export Volume, Import Volume
    Description

    This article provides an overview of crude oil prices worldwide and highlights the key drivers and implications of these price movements. It discusses how crude oil prices impact the global economy, businesses, and consumers, and explores the factors that influence oil prices, including supply and demand dynamics, geopolitical events, and financial market conditions. The article concludes by emphasizing the importance of monitoring and analyzing crude oil prices for governments, businesses, and investors.

  6. k

    Crude Oil Prices

    • datasource.kapsarc.org
    • data.kapsarc.org
    Updated Oct 10, 2022
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    (2022). Crude Oil Prices [Dataset]. https://datasource.kapsarc.org/explore/dataset/crude-oil-prices-us-dollarsbarrel-1981-2015/
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    Dataset updated
    Oct 10, 2022
    Description

    This dataset contains information about world's crude oil prices for 1861-2020. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: 1861-1944 US Average 1945-1983 Arabian Light posted at Ras Tanura 1984-2016 Brent dated. $2020 (deflated using the Consumer Price Index for the US

  7. Brent crude oil price annually 1976-2025

    • statista.com
    • ai-chatbox.pro
    Updated Jun 17, 2025
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    Statista (2025). Brent crude oil price annually 1976-2025 [Dataset]. https://www.statista.com/statistics/262860/uk-brent-crude-oil-price-changes-since-1976/
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    Dataset updated
    Jun 17, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Worldwide
    Description

    As of May 2025, the average annual price of Brent crude oil stood at 72 U.S. dollars per barrel. This is some 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 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.

  8. S

    Current International Price of Crude Oil

    • indexbox.io
    doc, docx, pdf, xls +1
    Updated Jul 1, 2025
    + more versions
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    IndexBox Inc. (2025). Current International Price of Crude Oil [Dataset]. https://www.indexbox.io/search/current-international-price-of-crude-oil/
    Explore at:
    doc, docx, pdf, xls, xlsxAvailable download formats
    Dataset updated
    Jul 1, 2025
    Dataset authored and provided by
    IndexBox Inc.
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 2012 - Jul 3, 2025
    Area covered
    World
    Variables measured
    Price CIF, Price FOB, Export Value, Import Price, Import Value, Export Prices, Export Volume, Import Volume
    Description

    The price of crude oil is influenced by factors such as supply and demand, geopolitical events, economic indicators, and market speculation. This article provides an overview of these factors and discusses the international price of crude oil, including the benchmarks for pricing and the current prices of Brent crude and West Texas Intermediate (WTI) crude. It also emphasizes the complexity and dynamic nature of the crude oil market and its impacts on global economies, industries, and consumers.

  9. S

    Global Oil Prices Graph

    • indexbox.io
    doc, docx, pdf, xls +1
    Updated Jul 1, 2025
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    IndexBox Inc. (2025). Global Oil Prices Graph [Dataset]. https://www.indexbox.io/search/global-oil-prices-graph/
    Explore at:
    xlsx, xls, docx, pdf, docAvailable download formats
    Dataset updated
    Jul 1, 2025
    Dataset authored and provided by
    IndexBox Inc.
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 2012 - Jul 4, 2025
    Area covered
    World
    Variables measured
    Price CIF, Price FOB, Export Value, Import Price, Import Value, Export Prices, Export Volume, Import Volume
    Description

    The global oil prices graph provides a visual representation of crude oil prices over time and is crucial for understanding market dynamics and tracking price fluctuations. This article explains key terms such as Brent Crude and WTI Crude, as well as the influence of supply and demand, geopolitical events, economic fluctuations, and weather conditions on oil prices. Analysts, investors, governments, and oil companies rely on this graph to identify trends, patterns, and major market events for decision-makin

  10. Ecuador Crude Oil: Price: Average: Petroleum WTI

    • ceicdata.com
    Updated May 15, 2023
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    CEICdata.com (2023). Ecuador Crude Oil: Price: Average: Petroleum WTI [Dataset]. https://www.ceicdata.com/en/ecuador/crude-oil-prices/crude-oil-price-average-petroleum-wti
    Explore at:
    Dataset updated
    May 15, 2023
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jul 1, 2018 - Jun 1, 2019
    Area covered
    Ecuador
    Variables measured
    Petroleum
    Description

    Ecuador Crude Oil: Price: Average: Petroleum WTI data was reported at 54.680 USD/Barrel in Jun 2019. This records a decrease from the previous number of 60.730 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Petroleum WTI data is updated monthly, averaging 75.215 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 109.890 USD/Barrel in Apr 2011 and a record low of 30.330 USD/Barrel in Feb 2016. Ecuador Crude Oil: Price: Average: Petroleum WTI data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

  11. Switzerland Brent Crude Oil Price

    • ceicdata.com
    Updated Feb 15, 2025
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    CEICdata.com (2025). Switzerland Brent Crude Oil Price [Dataset]. https://www.ceicdata.com/en/switzerland/fuel-prices/brent-crude-oil-price
    Explore at:
    Dataset updated
    Feb 15, 2025
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jul 1, 2017 - Jun 1, 2018
    Area covered
    Switzerland
    Variables measured
    Petroleum
    Description

    Switzerland Brent Crude Oil Price data was reported at 75.710 USD/Barrel in Oct 2018. This records a decrease from the previous number of 82.790 USD/Barrel for Sep 2018. Switzerland Brent Crude Oil Price data is updated monthly, averaging 25.785 USD/Barrel from Jan 1970 (Median) to Oct 2018, with 586 observations. The data reached an all-time high of 139.390 USD/Barrel in Jun 2008 and a record low of 2.230 USD/Barrel in Dec 1970. Switzerland Brent Crude Oil Price data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.P002: Fuel Prices.

  12. S

    Crude Oil Price List

    • indexbox.io
    doc, docx, pdf, xls +1
    Updated Jun 1, 2025
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    IndexBox Inc. (2025). Crude Oil Price List [Dataset]. https://www.indexbox.io/search/crude-oil-price-list/
    Explore at:
    xlsx, docx, pdf, doc, xlsAvailable download formats
    Dataset updated
    Jun 1, 2025
    Dataset authored and provided by
    IndexBox Inc.
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 2012 - Jun 23, 2025
    Area covered
    World
    Variables measured
    Price CIF, Price FOB, Export Value, Import Price, Import Value, Export Prices, Export Volume, Import Volume
    Description

    Learn about the factors that influence crude oil prices and the importance of these prices in the global economy. Explore the benchmark prices, such as Brent crude and West Texas Intermediate, and understand how supply and demand, geopolitical events, production costs, and market speculation affect the price of crude oil. Discover the impact of crude oil prices on inflation, energy costs, investment opportunities, and as macroeconomic indicators.

  13. F

    Crude Oil Prices: Brent - Europe

    • fred.stlouisfed.org
    json
    Updated Jun 18, 2025
    + more versions
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    (2025). Crude Oil Prices: Brent - Europe [Dataset]. https://fred.stlouisfed.org/series/DCOILBRENTEU
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    jsonAvailable download formats
    Dataset updated
    Jun 18, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Description

    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.

  14. S

    August Crude Oil Prices

    • indexbox.io
    doc, docx, pdf, xls +1
    Updated Jun 1, 2025
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    IndexBox Inc. (2025). August Crude Oil Prices [Dataset]. https://www.indexbox.io/search/august-crude-oil-prices/
    Explore at:
    xlsx, docx, xls, pdf, docAvailable download formats
    Dataset updated
    Jun 1, 2025
    Dataset authored and provided by
    IndexBox Inc.
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 2012 - Jun 27, 2025
    Area covered
    World
    Variables measured
    Price CIF, Price FOB, Export Value, Import Price, Import Value, Export Prices, Export Volume, Import Volume
    Description

    Learn about the various global factors that impacted crude oil prices in August, including trade tensions, geopolitical risks, economic data, production levels, and weather conditions, leading to a complex and volatile market environment for oil traders and producers.

  15. Ecuador Crude Oil: Price: Average: Oriente & Napo

    • ceicdata.com
    Updated Nov 22, 2021
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    CEICdata.com (2021). Ecuador Crude Oil: Price: Average: Oriente & Napo [Dataset]. https://www.ceicdata.com/en/ecuador/crude-oil-prices/crude-oil-price-average-oriente--napo
    Explore at:
    Dataset updated
    Nov 22, 2021
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jul 1, 2018 - Jun 1, 2019
    Area covered
    Ecuador
    Variables measured
    Petroleum
    Description

    Ecuador Crude Oil: Price: Average: Oriente & Napo data was reported at 55.342 USD/Barrel in Jun 2019. This records a decrease from the previous number of 60.840 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Oriente & Napo data is updated monthly, averaging 67.265 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 112.454 USD/Barrel in Mar 2012 and a record low of 21.744 USD/Barrel in Jan 2016. Ecuador Crude Oil: Price: Average: Oriente & Napo data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

  16. F

    Global price of WTI Crude

    • fred.stlouisfed.org
    json
    Updated Jun 26, 2025
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    (2025). Global price of WTI Crude [Dataset]. https://fred.stlouisfed.org/series/POILWTIUSDM
    Explore at:
    jsonAvailable download formats
    Dataset updated
    Jun 26, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Description

    Graph and download economic data for Global price of WTI Crude (POILWTIUSDM) from Jan 1990 to May 2025 about WTI, crude, oil, World, and price.

  17. Crude Oil Price in United States – Historical Data & Forecasts

    • intratec.us
    Updated May 30, 2025
    + more versions
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    Intratec Solutions (2025). Crude Oil Price in United States – Historical Data & Forecasts [Dataset]. https://www.intratec.us/solutions/energy-prices-markets/commodity/crude-oil-prices-by-country
    Explore at:
    Dataset updated
    May 30, 2025
    Dataset provided by
    Intratec Solutions, LLC
    Authors
    Intratec Solutions
    License

    https://www.intratec.us/docs/legal/index.pdfhttps://www.intratec.us/docs/legal/index.pdf

    Description

    Comprehensive historical data and future forecasts for Crude Oil prices in United States, crucial for market analysis and strategic planning.

  18. E

    Ecuador Crude Oil: Price: Average: Petroleum BRENT

    • ceicdata.com
    Updated Jan 15, 2025
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    CEICdata.com (2025). Ecuador Crude Oil: Price: Average: Petroleum BRENT [Dataset]. https://www.ceicdata.com/en/ecuador/crude-oil-prices/crude-oil-price-average-petroleum-brent
    Explore at:
    Dataset updated
    Jan 15, 2025
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jul 1, 2018 - Jun 1, 2019
    Area covered
    Ecuador
    Variables measured
    Petroleum
    Description

    Ecuador Crude Oil: Price: Average: Petroleum BRENT data was reported at 64.030 USD/Barrel in Jun 2019. This records a decrease from the previous number of 70.850 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Petroleum BRENT data is updated monthly, averaging 76.520 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 125.330 USD/Barrel in Mar 2012 and a record low of 30.750 USD/Barrel in Jan 2016. Ecuador Crude Oil: Price: Average: Petroleum BRENT data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

  19. Chile Commodity Prices: Avg: Crude Oil: Brent

    • ceicdata.com
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    CEICdata.com, Chile Commodity Prices: Avg: Crude Oil: Brent [Dataset]. https://www.ceicdata.com/en/chile/crude-oil-price/commodity-prices-avg-crude-oil-brent
    Explore at:
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 1, 2024 - Feb 1, 2025
    Area covered
    Chile
    Description

    Chile Commodity Prices: Avg: Crude Oil: Brent data was reported at 72.574 USD/Barrel in Mar 2025. This records a decrease from the previous number of 75.157 USD/Barrel for Feb 2025. Chile Commodity Prices: Avg: Crude Oil: Brent data is updated monthly, averaging 65.170 USD/Barrel from Jan 2000 (Median) to Mar 2025, with 303 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.

  20. F

    Global price of Brent Crude

    • fred.stlouisfed.org
    json
    Updated Apr 10, 2025
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    (2025). Global price of Brent Crude [Dataset]. https://fred.stlouisfed.org/series/POILBREUSDQ
    Explore at:
    jsonAvailable download formats
    Dataset updated
    Apr 10, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Description

    Graph and download economic data for Global price of Brent Crude (POILBREUSDQ) from Q1 1990 to Q1 2025 about crude, oil, World, and price.

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Statista (2025). Weekly oil prices in Brent, OPEC basket, and WTI futures 2020-2025 [Dataset]. https://www.statista.com/statistics/326017/weekly-crude-oil-prices/
Organization logo

Weekly oil prices in Brent, OPEC basket, and WTI futures 2020-2025

Explore at:
35 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Jul 1, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Time period covered
Jan 6, 2020 - Jun 30, 2025
Area covered
Worldwide
Description

On June 30, 2025, the Brent crude oil price stood at 66.64 U.S. dollars per barrel, compared to 65.11 U.S. dollars for WTI oil and 68.35 U.S. dollars for the OPEC basket. OPEC prices fell that week as concerns over supply constraints related to the Israel-Iran conflict eased.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.

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