Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% 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.

On July 7, 2025, the Brent crude oil price stood at 69.62 U.S. dollars per barrel, compared to 67.93 U.S. dollars for WTI oil and 69.92 U.S. dollars for the OPEC basket. Prices rose slightly that week, following signs of an increase in demand.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.

Brent rose to 70.45 USD/Bbl on July 14, 2025, up 0.12% from the previous day. Over the past month, Brent's price has fallen 3.80%, and is down 16.98% 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 July of 2025.

Heating Oil rose to 2.47 USD/Gal on July 11, 2025, up 3.46% from the previous day. Over the past month, Heating Oil's price has risen 11.10%, but it is still 1.60% lower 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 July of 2025.

US oil price futures are contracts that allow participants to speculate on the future price of crude oil. They serve as a vital tool for risk management and investment in the global oil market. The benchmark contract for US oil price futures is WTI crude oil, and trading occurs on regulated exchanges.

Despite their widespread use as predictors of the spot price of oil, oil futures prices tend to be less accurate in the mean-squared prediction error sense than no-change forecasts. This result is driven by the variability of the futures price about the spot price, as captured by the oil futures spread. This variability can be explained by the marginal convenience yield of oil inventories. Using a two-country, multi-period general equilibrium model of the spot and futures markets for crude oil we show that increased uncertainty about future oil supply shortfalls under plausible assumptions causes the spread to decline. Increased uncertainty also causes precautionary demand for oil to increase, resulting in an immediate increase in the real spot price. Thus the negative of the oil futures spread may be viewed as an indicator of fluctuations in the price of crude oil driven by precautionary demand. An empirical analysis of this indicator provides evidence of how shifts in the uncertainty about future oil supply shortfalls affect the real spot price of crude oil.

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.

Crude oil futures live price refers to the current market value of futures contracts for crude oil. Traders, investors, and market participants use this price as a benchmark for global oil prices and to make informed decisions. Learn more about how to access and interpret the live price of crude oil futures.

Palm Oil rose to 4,175 MYR/T on July 11, 2025, up 0.68% from the previous day. Over the past month, Palm Oil's price has risen 8.72%, and is up 6.67% 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.

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

Urals Oil rose to 66.46 USD/Bbl on July 11, 2025, up 2.31% from the previous day. Over the past month, Urals Oil's price has risen 2.96%, but it is still 18.42% 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.

Brent Crude Oil Price: EA: Forward: 1 Month data was reported at 72.079 EUR/Barrel in Mar 2025. This records an increase from the previous number of 69.734 EUR/Barrel for Dec 2024. Brent Crude Oil Price: EA: Forward: 1 Month data is updated quarterly, averaging 34.532 EUR/Barrel from Sep 1985 (Median) to Mar 2025, with 159 observations. The data reached an all-time high of 103.376 EUR/Barrel in Jun 2022 and a record low of 9.999 EUR/Barrel in Dec 1998. Brent Crude Oil Price: EA: Forward: 1 Month data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.P005: European Central Bank: Crude Oil Price. [COVID-19-IMPACT]

In addition to their theoretical analysis of the joint determination of oil futures prices and oil spot prices, Alquist and Kilian (Journal of Applied Econometrics, 2010, 25(4), 539-573) compare the out-of-sample accuracy of the random walk forecast with that of forecasts based on oil futures prices and other predictors. The results of my replication exercise are very similar to the original forecast accuracy results, but the relative accuracy of the random walk forecast and the futures-based forecast changes when the sample is extended to August 2016, consistent with the results of several other recent studies by Kilian and co-authors.

The dataset includes monthly WTI crude oil spot and futures prices with the shortest maturity contracts (one-month, two-month, and three-month futures contracts), the US Ending Stocks of Crude Oil and Petroleum Products in thousands of barrels. All the datasets were sourced from US EIA, except for the three-month US treasury bill dataset sourced from the Federal Reserve Economic Data of St. Louis Federal Bank.

Annual futures contract three price for Cushing Oklahoma crude oil stood at 67.3 U.S. dollars per barrel in 2021, an increase compared to the previous years. During the period in consideration, figures peaked at over 100 U.S. dollars per barrel in 2008.

Oil shocks exert influence on macroeconomic activity through various channels, many of which imply a symmetric effect. However, the effect can also be asymmetric. In particular, sharp oil price changes "either increases or decreases" may reduce aggregate output temporarily because they delay business investment by raising uncertainty or induce costly sectoral resource reallocation. Consistent with these asymmetric-effect hypotheses, the authors find that a volatility measure constructed using daily crude oil futures prices has a negative and significant effect on future gross domestic product (GDP) growth over the period 1984-2004. Moreover, the effect becomes more significant after oil price changes are also included in the regression to control for the symmetric effect. The evidence here provides economic rationales for Hamilton's (2003) nonlinear oil shock measure: It captures overall effects, both symmetric and asymmetric, of oil price shocks on output.

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.

Daily WTI Barrel of Oil Future Prices

Snapshot img { margin: 10px !important; } The fuel oil market size will decrease by USD 84.77 billion during 2020-2024. This report provides a detailed analysis of the market by application (marine, industrial, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., Exxon Mobil Corp., JXTG Holdings Inc., PJSC LUKOIL, PT Pertamina(Persero), Qatar Petroleum, Reliance Industries Ltd., Royal Dutch Shell Plc, and SK Innovation Co. Ltd.

Market Overview

Browse TOC and LoE with selected illustrations and example pages of Fuel Oil Market

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Market Competitive Analysis

The fuel oil market is fragmented with numerous vendors that produce and supply fuel oil to customers. Vendors need to make high capital investments to remain competitive in the market. BP Plc, Chevron Corp., and Exxon Mobil Corp. are some of the major market participants. Although the rise in world energy demand will offer immense growth opportunities, the fluctuations in crude oil prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this fuel oil market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this fuel oil market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

BP Plc
Chevron Corp.
Exxon Mobil Corp.
JXTG Holdings Inc.
PJSC LUKOIL
PT Pertamina(Persero)
Qatar Petroleum
Reliance Industries Ltd.
Royal Dutch Shell Plc
SK Innovation Co. Ltd.

Fuel Oil Market: Segmentation by Application

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The primary requirement of any marine engine is to propel the ship or generate onsite power by using the energy obtained from burning fuel oil. The mega marine engines of ships burn tons of fuel every day to propel the massively loaded ships. The rise in demand for bunker fuel oil due to the growing seaborne trade and growing naval activities will drive the demand for fuel oil for marine.

However, market growth in this segment will be slower than the growth of the market in the industrial and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the fuel oil market size.

Fuel Oil Market: Segmentation by Geography

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North America will offer several growth opportunities to market vendors during the forecast period. The strong consumption of space heating fuel, growing refinery capacity, and proliferating marine trade will significantly influence fuel oil market growth in this region over the forecast period. The US is a key market for fuel oil in North America.

Fuel Oil Market: Key Drivers and Trends

The fluctuation in oil prices has affected the business of several oil and gas companies and refinancing companies. As a result, crude oil processing projects generate less revenue and many oil and gas companies suspend or postpone their exploration and production projects. Fluctuations in crude oil prices also impact investments in E&P and refining projects. Such factors will result in a slowdown in the growth of the global fuel oil market during the forecast period.

The adoption of blockchain in the oil and gas industry helps in overcoming several issues including the complexity of logistics, high fuel prices, and environmental pollution. Blockchain platforms facilitate secure and faster transactions between the entities and maintain transparency. Blockchain also helps in reducing cash cycle time and intermediary costs. These benefits will result in an increase in the adoption of blockchain to enhance the overall operational efficiency of the existing refineries. As a result of such factors, the fuel oil market will register a CAGR of (13)% during the forecast period.

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Fuel Oil Market: Key Highlights of the Report for 2020-2024

CAGR of the market

Deterministic and stochastic are two methods for modeling of crude oil and bottled water market. Forecasting the price of the market directly affected energy producer and water user.There are two software, Tableau and Python, which are utilized to model and visualize both markets for the aim of estimating possible price in the future.The role of those software is to provide an optimal alternative with different methods (deterministic versus stochastic). The base of predicted price in Tableau is deterministic—global optimization and time series. In contrast, Monte Carlo simulation as a stochastic method is modeled by Python software. The purpose of the project is, first, to predict the price of crude oil and bottled water with stochastic (Monte Carlo simulation) and deterministic (Tableau software),second, to compare the prices in a case study of Crude Oil Prices: West Texas Intermediate (WTI) and the U.S. bottled water. 1. Introduction Predicting stock and stock price index is challenging due to uncertainties involved. We can analyze with a different aspect; the investors perform before investing in a stock or the evaluation of stocks by means of studying statistics generated by market activity such as past prices and volumes. The data analysis attempt to identify stock patterns and trends that may predict the estimation price in the future. Initially, the classical regression (deterministic) methods were used to predict stock trends; furthermore, the uncertainty (stochastic) methods were used to forecast as same as deterministic. According to Deterministic versus stochastic volatility: implications for option pricing models (1997), Paul Brockman & Mustafa Chowdhury researched that the stock return volatility is deterministic or stochastic. They reported that “Results reported herein add support to the growing literature on preference-based stochastic volatility models and generally reject the notion of deterministic volatility” (Pag.499). For this argument, we need to research for modeling forecasting historical data with two software (Tableau and Python). In order to forecast analyze Tableau feature, the software automatically chooses the best of up to eight models which generates the highest quality forecast. According to the manual of Tableau , Tableau assesses forecast quality optimize the smoothing of each model. The optimization model is global. The main part of the model is a taxonomy of exponential smoothing that analyzes the best eight models with enough data. The real- world data generating process is a part of the forecast feature and to support deterministic method. Therefore, Tableau forecast feature is illustrated the best possible price in the future by deterministic (time – series and prices). Monte Carlo simulation (MCs) is modeled by Python, which is predicted the floating stock market index . Forecasting the stock market by Monte Carlo demonstrates in mathematics to solve various problems by generating suitable random numbers and observing that fraction of the numbers that obeys some property or properties. The method utilizes to obtain numerical solutions to problems too complicated to solve analytically. It randomly generates thousands of series representing potential outcomes for possible returns. Therefore, the variable price is the base of a random number between possible spot price between 2002-2016 that present a stochastic method.