Crude Oil fell to 67.30 USD/Bbl on July 18, 2025, down 0.36% from the previous day. Over the past month, Crude Oil's price has fallen 8.86%, and is down 14.42% 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 July of 2025.

On July 14, 2025, the Brent crude oil price stood at 69.18 U.S. dollars per barrel, compared to 66.98 U.S. dollars for WTI oil and 72 U.S. dollars for the OPEC basket. Brent and WTI prices fell slightly that week, while OPEC prices rose.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.

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.

Brent fell to 69.21 USD/Bbl on July 18, 2025, down 0.45% from the previous day. Over the past month, Brent's price has fallen 9.77%, and is down 16.24% 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.

In June 2025, the price for one barrel of West Texas Intermediate (WTI) crude oil averaged 68.17 U.S. dollars. This was an increase compared to the previous month which had seen the lowest figure in the past 24-month period. 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.

In June 2025, the average price of one barrel of Brent crude oil was 71.44 U.S. dollars. This was around seven U.S. dollars more than prices the previous month, which were the lowest value in the past 24-month period. 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.

This article discusses the various factors that influenced the fluctuation of crude oil prices in June, including negotiations among major oil-producing countries, concerns over COVID-19 variants, geopolitical tensions, exchange rate fluctuations, and inventory levels.

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.

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.

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

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

Learn about the June crude oil futures contract, a popular tool for investors and traders to speculate on the price movement of oil. Discover how this highly volatile commodity is influenced by various factors and how market participants can take positions on the expected future price. Find out about the contract size, trading platforms, and the use of futures contracts for hedging purposes in the oil industry.

United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma was 64.06000 $ per Barrel in June 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 142.52000 in July of 2008 and a record low of 3.32000 in April of 2020. 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 June of 2025.

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.

Urals Oil rose to 65.43 USD/Bbl on July 17, 2025, up 1.92% from the previous day. Over the past month, Urals Oil's price has fallen 8.41%, and is down 18.60% 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.

Stocks of crude oil in the United States decreased by 3.86million barrels in the week ending July 11 of 2025. This dataset provides the latest reported value for - United States Crude Oil Stocks Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of June 2025, the average annual price of Brent crude oil stood at 71.91 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.

Brent oil prices in , May, 2025 For that commodity indicator, we provide data from January 1960 to May 2025. The average value during that period was 34.47 USD per barrel with a minimum of 1.21 USD per barrel in January 1970 and a maximum of 133.87 USD per barrel in July 2008. | TheGlobalEconomy.com

In June 2025, the price of Merey crude oil – Venezuela’s reference export blend – averaged ***** U.S. dollars per barrel, down from ***** U.S. dollars per barrel the previous month. Merey crude oil has been part of the OPEC basket since January 2009. A blend of extra-heavy crude oil from the Orinoco belt and lighter grades, Venezuela’s export oil is the heaviest component in the basket, and, in turn, has historically reported the lowest average price in the OPEC basket. The 2020's oil crisis Crude oil prices worldwide dropped dramatically in the first months of 2020, the result of an unprecedented decline in demand as lockdown measures were implemented globally in an attempt to limit the spread of the coronavirus pandemic. With storage facilities filling up, WTI crude oil reached a record negative price in the third week of April. Since then, prices have seen a mostly continual recovery. Following Russia's invasion of Ukraine at the end of February 2022, prices surged to levels last seen in 2008, with reference oil blends Brent, WTI, and OPEC basket averaging at more than *** U.S. dollars per barrel in summer 2022. Venezuela’s struggling oil sector The global decline in prices brought upon by the pandemic was only the most recent blow to the South American country's oil industry. Despite holding the largest proved oil reserves in the world, Venezuela’s oil production has declined notably. In 2023, it averaged around ******* barrels per day, a third of the level registered a decade earlier. A political and economic crisis as well as resulting U.S. sanctions have led to a rise in oil stocks in the country, affecting both prices and production.

API Crude Oil Stock Change in the United States increased to 19.10 BBL/1Million in July 11 from 7.10 BBL/1Million in the previous week. This dataset provides - United States API Crude Oil Stock Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.