Crude Oil rose to 63.73 USD/Bbl on August 22, 2025, up 0.34% from the previous day. Over the past month, Crude Oil's price has fallen 2.32%, and is down 14.83% 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 August of 2025.

On August 18, 2025, the Brent crude oil price stood at 66.54 U.S. dollars per barrel, compared to 63.42 U.S. dollars for WTI oil and 68.21 U.S. dollars for the OPEC basket. Oil prices remained largely unchanged that week as economic expectations stayed low.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.

Brent rose to 66.90 USD/Bbl on August 20, 2025, up 1.69% from the previous day. Over the past month, Brent's price has fallen 3.33%, and is down 12.03% compared to the same time last year, 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 August of 2025.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-07-21 about crude, oil, Europe, commodities, and price.

As of July 2025, the average annual price of Brent crude oil stood at 71.79 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.

United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: Europe Brent data was reported at 0.215 % in 12 May 2025. This stayed constant from the previous number of 0.215 % for 05 May 2025. United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: Europe Brent data is updated weekly, averaging 0.132 % from Feb 2020 (Median) to 12 May 2025, with 273 observations. The data reached an all-time high of 81.519 % in 11 Sep 2023 and a record low of 0.000 % in 14 Apr 2025. United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: Europe Brent data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Industrial Production.

Urals Oil rose to 63.09 USD/Bbl on August 20, 2025, up 0.96% from the previous day. Over the past month, Urals Oil's price has fallen 3.16%, and is down 13.16% 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.

Heating Oil rose to 2.32 USD/Gal on August 21, 2025, up 1.97% from the previous day. Over the past month, Heating Oil's price has fallen 5.20%, but it is still 2.35% higher than a year ago, 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 August of 2025.

United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: Europe Brent data was reported at 1.657 % in 12 May 2025. This stayed constant from the previous number of 1.657 % for 05 May 2025. United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: Europe Brent data is updated weekly, averaging 0.166 % from Feb 2020 (Median) to 12 May 2025, with 274 observations. The data reached an all-time high of 7.874 % in 11 Dec 2023 and a record low of 0.000 % in 03 Feb 2025. United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: Europe Brent data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Retail Sales.

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

In July 2025, the average price of one barrel of Brent crude oil was 71.04 U.S. dollars. This was relatively unchanged from the previous month and 14 U.S. dollars below July 2024 prices. 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 20 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.

Thailand BOT Forecast: YoY: Non-fuel Commodity Prices data was reported at -0.300 % in 2018. This records a decrease from the previous number of 7.000 % for 2017. Thailand BOT Forecast: YoY: Non-fuel Commodity Prices data is updated yearly, averaging -1.850 % from Dec 2011 (Median) to 2018, with 8 observations. The data reached an all-time high of 17.700 % in 2011 and a record low of -17.500 % in 2015. Thailand BOT Forecast: YoY: Non-fuel Commodity Prices data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.P016: Crude Oil, Non Fuel, Fresh Food and Metal Price: Forecast: Bank of Thailand.

Europe Brent and WTI (Western Texas Intermediate) Spot Prices (Annual/ Monthly/ Weekly/ Daily) from EIA U.S. (Energy Information Administration).

Data

Sources

1. • Name: Daily Europe Brent Spot Price
   • Web: https://www.eia.gov/dnav/pet/hist_xls/RBRTEd.xls
2. • Name: Weekly Europe Brent Spot Price
   • Web: https://www.eia.gov/dnav/pet/hist_xls/RBRTEw.xls
3. • Name: Monthly Europe Brent Spot Price
   • Web: https://www.eia.gov/dnav/pet/hist_xls/RBRTEm.xls
4. • Name: Annual Europe Brent Spot Price
   • Web: https://www.eia.gov/dnav/pet/hist_xls/RBRTEa.xls
5. • Name: Daily Cushing, OK WTI Spot Price
   • Web: http://www.eia.gov/dnav/pet/hist_xls/RWTCd.xls
6. • Name: Weekly Cushing, OK WTI Spot Price
   • Web: http://www.eia.gov/dnav/pet/hist_xls/RWTCw.xls
7. • Name: Monthly Cushing, OK WTI Spot Price
   • Web: http://www.eia.gov/dnav/pet/hist_xls/RWTCm.xls
8. • Name: Annual Cushing, OK WTI Spot Price
   • Web: http://www.eia.gov/dnav/pet/hist_xls/RWTCa.xls

Definitions

Brent

A blended crude stream produced in the North Sea region which serves as a reference or "marker" for pricing a number of other crude streams. source

West Texas Intermediate (WTI - Cushing)

A crude stream produced in Texas and southern Oklahoma which serves as a reference or "marker" for pricing a number of other crude streams and which is traded in the domestic spot market at Cushing, Oklahoma. source

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Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: West Texas Intermediate Cushing data was reported at 1.515 % in 12 May 2025. This stayed constant from the previous number of 1.515 % for 05 May 2025. Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: West Texas Intermediate Cushing data is updated weekly, averaging 0.275 % from Feb 2020 (Median) to 12 May 2025, with 274 observations. The data reached an all-time high of 14.397 % in 11 Dec 2023 and a record low of 0.000 % in 09 Dec 2024. Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Crude Oil: Spot Price: West Texas Intermediate Cushing data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Retail Sales.

Graph and download economic data for Global price of Palm Oil (PPOILUSDM) from Jan 1990 to Jun 2025 about oil, World, food, and price.

The American Petroleum Institute, a leading energy trade association, has been a vital hub for energy industry professionals and researchers for over a century. With a long history of promoting the exploration and production of oil and natural gas, the API has amassed an extensive repository of data on the global energy landscape. From exploration and production data to market trends and energy policy information, the API's resources provide unparalleled insight into the energy sector.

As one of the most respected and influential organizations in the energy industry, the API's data collection is unparalleled, covering topics such as energy consumption and production, refinery capacity, crude oil prices, and more. With a vast array of data at your fingertips, you can gain a deeper understanding of the complex energy landscape, analyze industry trends, and make informed business decisions with confidence.

Natural gas fell to 2.78 USD/MMBtu on August 22, 2025, down 1.53% from the previous day. Over the past month, Natural gas's price has fallen 9.56%, but it is still 27.66% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on August of 2025.

Thailand BOT Forecast: YoY: Fresh Food Prices data was reported at 1.900 % in 2017. This records a decrease from the previous number of 3.900 % for 2016. Thailand BOT Forecast: YoY: Fresh Food Prices data is updated yearly, averaging 2.900 % from Dec 2011 (Median) to 2017, with 7 observations. The data reached an all-time high of 16.000 % in 2013 and a record low of -10.900 % in 2015. Thailand BOT Forecast: YoY: Fresh Food Prices data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.P016: Crude Oil, Non Fuel, Fresh Food and Metal Price: Forecast: Bank of Thailand.

Gasoline fell to 2.16 USD/Gal on August 22, 2025, down 0.11% from the previous day. Over the past month, Gasoline's price has risen 2.06%, but it is still 5.38% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on August of 2025.