Crude Oil fell to 66.61 USD/Bbl on July 3, 2025, down 1.24% from the previous day. Over the past month, Crude Oil's price has risen 5.99%, but it is still 20.72% 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.

Brent fell to 68.86 USD/Bbl on July 3, 2025, down 0.36% from the previous day. Over the past month, Brent's price has risen 6.17%, but it is still 21.23% 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.

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.

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.

Interactive daily chart of Brent (Europe) crude oil prices over the last ten years. Values shown are daily closing prices.

Crude oil commodity price charts provide valuable insights into the historical price movements of crude oil, allowing market participants to analyze trends, make informed decisions, and assess the impact of various factors on oil prices. These charts serve as a vital tool for traders, investors, and analysts in the oil industry.

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.

Explore the factors influencing crude oil prices, including geopolitical tensions, OPEC decisions, and technological advancements. Understand the historical context, the role of OPEC, and how technical and fundamental analyses impact trading opportunities. Learn how oil prices affect global currencies and the influence of environmental policies on future demand.

Graph and download economic data for Crude Oil Prices: Brent - Europe from 1987-05-20 to 2025-06-30 about crude, oil, Europe, commodities, and price.

United States - Spot Crude Oil Price: West Texas Intermediate (WTI) was 62.17000 $ per Barrel in May of 2025, according to the United States Federal Reserve. Historically, United States - Spot Crude Oil Price: West Texas Intermediate (WTI) reached a record high of 133.93000 in June of 2008 and a record low of 1.17000 in February of 1946. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Spot Crude Oil Price: West Texas Intermediate (WTI) - last updated from the United States Federal Reserve on July of 2025.

The 2025 annual OPEC oil price stood at ***** U.S. dollars per barrel, as of May. 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.

Get the latest insights on price movement and trend analysis of Crude Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Explore the complexities of crude oil price charts, examining the factors influencing oil prices including geopolitical events, economic data, and policy decisions by OPEC. Understand how these charts reflect market trends, technological advancements, and environmental concerns, providing insights for traders and decision-makers.

Graph and download economic data for Spot Crude Oil Price: West Texas Intermediate (WTI) (WTISPLC) from Jan 1946 to Jun 2025 about WTI, crude, oil, price, and USA.

Crude Oil Price: Tiaka data was reported at 57.950 USD/Barrel in Jul 2019. This records an increase from the previous number of 57.850 USD/Barrel for Jun 2019. Crude Oil Price: Tiaka data is updated monthly, averaging 68.180 USD/Barrel from Jan 2008 (Median) to Jul 2019, with 139 observations. The data reached an all-time high of 122.920 USD/Barrel in Mar 2012 and a record low of 21.870 USD/Barrel in Jan 2016. Crude Oil Price: Tiaka data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.RBH003: Crude Oil Price.

In May 2025, the price for one barrel of West Texas Intermediate (WTI) crude oil averaged 62.17 U.S. dollars. This was a decrease compared to the previous month and the lowest figure in the past 24-month period amid continued weak demand outlooks. 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.

United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma was 62.17000 $ per Barrel in May of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma reached a record high of 133.88000 in June of 2008 and a record low of 11.35000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma - last updated from the United States Federal Reserve on July of 2025.

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

WTI oil prices in , May, 2025 For that commodity indicator, we provide data from January 1982 to May 2025. The average value during that period was 46.19 USD per barrel with a minimum of 11.31 USD per barrel in December 1998 and a maximum of 133.93 USD per barrel in June 2008. | TheGlobalEconomy.com

The article explores the fluctuations and events that have shaped the global economy within the crude oil price graph over the past 10 years. It examines the impact of geopolitical tensions, production changes, demand fluctuations, and the unprecedented effects of the COVID-19 pandemic. The article highlights the volatility and sensitivity of crude oil to various factors and their influence on the global economy.