Crude Oil rose to 65.49 USD/Bbl on July 23, 2025, up 0.27% from the previous day. Over the past month, Crude Oil's price has risen 1.73%, but it is still 15.60% 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.

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 rose to 68.87 USD/Bbl on July 23, 2025, up 0.41% from the previous day. Over the past month, Brent's price has risen 2.57%, but it is still 15.72% 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.

On July 21, 2025, the Brent crude oil price stood at 68.98 U.S. dollars per barrel, compared to 67.2 U.S. dollars for WTI oil and 70.65 U.S. dollars for the OPEC basket. Brent and OPEC prices fell slightly that week, while WTI 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.

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.

Heating Oil fell to 2.45 USD/Gal on July 24, 2025, down 0.16% from the previous day. Over the past month, Heating Oil's price has risen 6.48%, but it is still 0.98% 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.

The crude oil price per barrel refers to the value of a barrel of crude oil in the global market, influenced by supply and demand dynamics, geopolitical events, economic conditions, and market speculation. Fluctuations in oil prices impact sectors of the economy, transportation costs, manufacturing costs, consumer prices, and oil-producing countries' economies. Oil price benchmarks like Brent Crude and West Texas Intermediate provide indicators of global crude oil price trends, making it an important e

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

Graph and download economic data for Global price of WTI Crude (POILWTIUSDQ) from Q1 1990 to Q2 2025 about WTI, crude, oil, World, and price.

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

The price of crude oil per barrel is influenced by factors such as supply and demand, geopolitical events, and economic indicators. This article explores the fluctuations in crude oil prices, the impact on the global economy, and the role of benchmarks like Brent crude and WTI crude. It also discusses the historical volatility of oil prices, the influence of geopolitical tensions, economic indicators, market speculation, and the shale oil revolution. Understanding crude oil prices is crucial as they have si

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

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).

Urals Oil fell to 63.86 USD/Bbl on July 23, 2025, down 2.87% from the previous day. Over the past month, Urals Oil's price has fallen 1.66%, and is down 17.20% 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.

Romania RO: Crude Oil Production: Average Price per Barrel data was reported at 70.754 USD/Barrel in Feb 2025. This records a decrease from the previous number of 74.377 USD/Barrel for Jan 2025. Romania RO: Crude Oil Production: Average Price per Barrel data is updated monthly, averaging 71.818 USD/Barrel from Jan 2020 (Median) to Feb 2025, with 62 observations. The data reached an all-time high of 115.271 USD/Barrel in Jun 2022 and a record low of 16.904 USD/Barrel in Apr 2020. Romania RO: Crude Oil Production: Average Price per Barrel data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Romania – Table RO.Eurostat: Crude Oil Supply: by Energy Balance and Indicator.

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

The price of US oil per barrel today is influenced by global supply and demand, geopolitical events, economic indicators, and market speculation. Learn about the factors that impact oil prices and their effects on the global economy.

Crude Oil Price: Bonny Light: per Barrel data was reported at 64.830 USD/Barrel in 15 May 2025. This records a decrease from the previous number of 67.180 USD/Barrel for 14 May 2025. Crude Oil Price: Bonny Light: per Barrel data is updated daily, averaging 77.700 USD/Barrel from Oct 2009 (Median) to 15 May 2025, with 3619 observations. The data reached an all-time high of 139.410 USD/Barrel in 08 Mar 2022 and a record low of 7.150 USD/Barrel in 21 Apr 2020. Crude Oil Price: Bonny Light: per Barrel data remains active status in CEIC and is reported by Central Bank of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.P003: Crude Oil Price. [COVID-19-IMPACT]

Daily Brent Crude Oil Spot Prices (FOB in dollars per barrel) from the Energy Information Administration

The international crude oil price has experienced significant fluctuations over the past 10 years, influenced by factors such as global demand and supply dynamics, geopolitical events, economic conditions, and policy decisions by major oil-producing countries. This article provides an overview of the price movements, starting from an average of $111 per barrel in 2011, declining to lows of negative prices in 2020, and recovering to around $66 per barrel in 2021. The complexities of the global oil market are